Gold Oil and Silver Declined Again–Recap May 22nd

Gold and silver prices continued their descent with no clear end in sight. Furthermore other commodities prices including crude oil also declined; natural gas future changed direction and hiked. The Euro sharply fell against the USD. Other exchange rates also tumbled down against the USD such as Australian dollar.

Here is a summary of the daily changes in precious metals and energy commodities for May 22nd, 2012:

Precious Metals:

Gold declined again by 0.76% to $1,576.6; Silver also traded down by 0.5% and reached $28.18. During the month, gold decreased by 5.26% and silver by 9.15%.

The Euro/USD tumbled down by 1.04% to 1.2684; furthermore, the U.S Dollar also sharply appreciated against other currencies such as the Australian dollar.

Energy Commodities:

WTI oil price resumed its descent and declined yesterday by 0.98% to $91.66 per barrel; Brent oil also decreased by 0.92% to $109.29 per barrel;

Following these changes, the gap between Brent and WTI settled $17.63/bbl. During the month, WTI decreased by 12.6% and Brent oil by 8.7%.

The Henry Hub future (June delivery) changed direction again and this time hiked by 3.83% to $2.71/mmbtu; the Henry Hub spot on the other hand fell to $2.55/mmbtu; the gap between the spot and future rose to $0.16/mmbtu, i.e. Contango.

A Summary for May 22nd:

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

 Gold Silver Crude oil Natural gas 2012 may 22

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