Yesterday, most of the major commodities finished the day with rises, including the precious metals and energy commodities.
Here is a summary of the main price changes in energy commodities and precious metals for May 24th:
Precious Metals prices:
Gold price continued to rise as it inclined yesterday by 0.52% and reached 1,523$.
Silver price also inclined by 3.51% and reached 36.13$.
During May, gold prices decreased by 2.1% and silver price fell by 25.7%.
The EURO/ USD bounced back and rose yesterday by 0.37%, as the USD depreciated against the EURO. During May the EURO/USD lost 4.8% of its value.
Oil and Gas prices:
Spot oil price (WTI) continue to zigzag as it rose yesterday by 1.89% and reached 99.09$/b; during May the WTI spot oil price fell by 12.6%.
Brent spot price also inclined by 2.14% and reached 112.42$/b.
As a result, the difference between Brent and WTI inclined to 13.33$/b.
Natural gas price (Henry Hub spot) also increased sharply by 3.51% and reached 4.39$/mmbtu – the highest price level since May 5th.
The Henry Hub future price on the other hand moderately declined by 0.23% to 4.34$/mmbtu; as a result the spread between future and spot price declined to -0.05$/mmbtu, i.e. backwardation.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Oil prices Monthly outlook –May 2011