Following the publication of another disappointing U.S employment report, the financial markets closed the week on a negative note: The Euro sharply fell again against the USD. Major commodities rates also declined including the Aussie dollar. Crude oil prices including both WTI and Brent tumbled down on Friday. Gold and silver prices also sharply decreased yesterday. Natural gas Henry Hub (August delivery) also plummeted.
Here is a summary of the daily changes in precious metals and energy commodities for July 6th, 2012:
Forex and Bullion Markets:
Gold fell by 1.9% to $1,578.9; Silver also sharply decreased by 2.71% and reached $26.92. During the month, gold decreased by 1.58% and silver by 2.51%.
The Euro/USD also declined by 0.82% to 1.229; further, the U.S Dollar rose against several currencies such as Aussie dollar by 0.74%.
WTI oil price tumbled down yesterday by 3.18% to $84.45 per barrel;
Brent oil also decreased by 1.49% to $98.2 per barrel;
Following these developments, the difference between Brent and WTI reached $13.75/bbl. During the month, WTI fell by 0.6% and Brent oil rose by 1.2%.
Finally, the Henry Hub future (August delivery) plunged by 5.44% to $2.78/mmbtu; the Henry Hub spot increased to $2.94/mmbtu; the difference between the spot and future reached -$0.16, Backwardation.
A Summary for July 6th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: