Silver and WTI Oil Prices Rallied –Recap April 17th

Precious metals prices continued to change direction with an unclear trend; this pattern both gold and silver have been experiencing in recent weeks. In the crude oil market WTI oil price sharply rose while Brent oil prices declined and the gap between the two continue to close. Natural gas prices rallied yesterday. Finally, the Euro continued to zigzag; this time it rose against the U.S. dollar; other currencies such as the Canadian dollar also slightly appreciated against the USD.

Here is a summary of the changes in precious metals and energy commodities for April 17th, 2012:

Precious Metals:

Gold price fell by 0.55% to $1,651.1; Silver price rose by 0.9% and reached $31.67. During April, gold declined by 1.24% and silver by 2.49%.

The Euro/USD rose yesterday by 0.49% to 1.3143; alternatively, the U.S Dollar appreciated against other exchange rates such as the Aussie dollar.

Oil and Gas:

WTI price increased by 1.33% to $104.2 per barrel; Brent oil however fell by 2.33% to $118.75 per barrel;

Following these changes, the gap between Brent and WTI oil prices settled at $14.55/bbl – the smallest gap since February 2012. During the month, WTI rose by 1.15% while Brent oil declined by 4.1%.

The Henry Hub future (May delivery) rose by 2.02% to $2.02/mmbtu; the Henry Hub spot price rose to $1.88/mmbtu; the difference between the spot and future reached $0.14/mmbtu, i.e. Contango.

A Summary of Changes for April 17th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 April 17

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