Gold and Silver Continued Their Rally–Recap March 8th

Gold and silver prices continued their rally as they have risen in the past couple of days. Crude oil also trade up yesterday; on the other hand, natural gas prices continued their decline. The Euro sharply appreciated again against the US Dollar as ECB left the rate unchanged at 1% and U.S. jobless claims slightly rose to 362k.

Here is a summary of the developments of precious metals and energy commodities for March 8th, 2012:

Precious Metals:

Gold price increased on Thursday by 0.88% to $1,698.7; Silver price also rose by 0.73% and reached $33.83. During March, gold decreased by 0.7% and silver by 2.34%. 

The Euro/USD was sharply traded up by 0.95% to 1.3274; the U.S Dollar depreciated against many other exchange rates such as the Aussie dollar.

Oil and Gas:

WTI price also slightly rose by 0.4% to $106.58 per barrel; Brent oil also increased by 1.18% to $125.58 per barrel;

Due to these changes, the gap between Brent and WTI oil prices expanded to $19.05/bbl. During the month, WTI slipped by 0.5% while Brent oil edged up by 1.4%.

The Henry Hub future (April delivery) sharply declined again by 1.3% to $2.27/mmbtu; the Henry Hub spot price also declined to $2.22/mmbtu; the difference between the spot and future reached $0.05/mmbtu, i.e. Contango.

A Summary of Changes for March 8th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 8

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