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:
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:
For further reading: