Gold and Silver Rallied Before FOMC Meeting –Recap April 24th

Gold and silver prices bounced back on Tuesday following their decline a day earlier. This may change today in anticipation for the upcoming statement of the recent FOMC meeting. Crude oil (WTI) also traded up, while Brent oil edged down. Natural gas future price changed direction and tumbled down yesterday. Finally, the Euro changed direction again and rose against the U.S. dollar; other currencies such as the Canadian also appreciated vs. the USD.

Here is a summary of the developments in precious metals and energy commodities for April 24th, 2012:

Precious Metals:

Gold price increased by 0.69% to $1,643.8; Silver price also rose by 0.71% and reached $30.82. During April, gold declined by 1.68% and silver by 5.14%.

The Euro/USD edged up yesterday by 0.31% to 1.3197; furthermore, the U.S Dollar also depreciated against other exchange rates such as the Canadian dollar.

Energy Commodities:

WTI oil price also increased by 0.49% to $103.16 per barrel; Brent oil on the other hand decreased by 0.22% to $118.42 per barrel;

Following these changes, the difference between Brent and WTI oil prices reached $15.26/bbl. During the month, WTI edged up by 0.14% and Brent oil declined by 4.4%.

The Henry Hub future (May delivery) tumbled by 1.99% to $1.97/mmbtu; the Henry Hub spot price rose to $1.99/mmbtu; the gap between the spot and future was $0.02/mmbtu, i.e. Contango.

A Summary of Changes for April 24th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 April 24

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