Gold Silver and Oil Bounced Back on Thursday–Recap May 24th

Gold and silver prices, along with other commodities, changed direction and rose during yesterday trading. Crude oil was also traded up. On the other hand the price of natural gas future changed direction and tumbled down. The Euro continued to depreciate again against the USD. Some other exchange rates rose against the USD such as Australian dollar.

Here is a summary of the daily changes in precious metals and energy commodities for May 24th, 2012:

Precious Metals:

Gold changed direction and rose by 0.41% to $1,559.8; Silver also decreased by 2.32% and reached $28.16. During the month, gold decreased by 6.27% and silver by 9.22%.

The Euro/USD declined by 0.41% to 1.2533; on the other hand, the U.S Dollar depreciated against several currencies such as the Australian dollar.

Energy Commodities:

WTI oil price rose yesterday by 0.9% to $90.41 per barrel; Brent oil also increased by 0.53% to $107.84 per barrel;

Following these developments, the difference between Brent and WTI settled $17.43/bbl. During the month, WTI decreased by 13.79% and Brent oil by 9.9%.

On the other hand the Henry Hub future (June delivery) changed direction and fell by 3.28% to $2.65/mmbtu; the Henry Hub spot traded up to $2.67/mmbtu; the difference between the spot and future fell to $0.02/mmbtu, i.e. Backwardation.

A Summary for May 24th:

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

 Gold Silver Crude oil Natural gas 2012 may 24

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