Gold Silver and Natural Gas Tumbled Down –Recap June 7th

Precious metals have changed direction and after Bernanke kept the Fed’s policy unchanged and didn’t hint of any future plans to introduce any additional monetary stimulus plans gold and silver tumbled down. Crude oil prices also declined on Thursday. Furthermore, the price of natural gas (future) also plunged. The Euro slightly depreciated against the USD. Several other exchange rates such as the Aussie dollar also depreciated.

Here is a summary of the daily changes in precious metals and energy commodities for June 7th, 2012:

Forex and Bullion Markets:

Gold tumbled down by 2.83% to $1,588; Silver also traded sharply down by 3.25% and reached $28.53. During the month, gold rose by 1.52% and silver by 2.78%.

The Euro/USD edged down by 0.17% to 1.256; furthermore, the U.S Dollar also appreciated against several currencies such as Aussie dollar by 0.33%.

Energy Commodities:

WTI oil price declined yesterday by 0.24% to $84.82 per barrel;

Brent oil trade down by 1.62% to $99.10 per barrel;

Following these changes, the difference between Brent and WTI settled at $14.28/bbl. During the month, WTI declined by 1.98% and Brent oil by 2.9%.

Finally, the Henry Hub future (July delivery) plunged by 6.2% to $2.27/mmbtu; the Henry Hub spot fell to $2.32/mmbtu; the difference between the spot and future fell to $0.05/mmbtu, Backwardation.

A Summary for June 7th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold Silver Crude oil Natural gas 2012 June 7

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