Gold and silver prices changed direction and sharply fell on Wednesday. This fall coincided with the sharp drop of other commodities prices and U.S stock market indexes following the recent U.S durable goods report that showed growth. Crude oil prices also sharply declined; natural gas future sharply rose, while the spot price declined again yesterday. The Euro didn’t move against the USD while other currencies such as Aussie dollar decreased against the U.S. dollar.
Here is a summary of the changes in precious metals and energy commodities for March 28th, 2012:
Gold price sharply fell by 1.61% to $1,660.5; Silver price also decreased by 2.41% and reached $31.83. During March, gold decreased by 2.97% and silver by 8.11%.
The Euro/USD remained virtually unchanged yesterday at 1.3317; alternatively, the U.S Dollar also depreciated against other exchange rates such as the Aussie dollar.
Oil and Gas:
WTI oil traded sharply down by 1.79% to $105.41 per barrel; Brent oil decreased by 0.75% to $125.04 per barrel;
Due to these changes, the difference between Brent and WTI oil prices reached $19.63/bbl. During the month, WTI fell by 1.55% while Brent oil rose by 0.9%.
The Henry Hub future (April delivery) sharply increased by 3.17% to $2.28/mmbtu; the Henry Hub spot price sharply declined to $2.03/mmbtu; the difference between the spot and future reached $0.25/mmbtu, i.e. Contango.
A Summary of Changes for March 28th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: