Gold and Silver Ended the Week Rising –Recap March 9th

Gold and silver prices finished the week in the green along with other major commodities prices such as crude oil prices. The U.S. employment report showed an increase of 227k in February. This new may have been among the key factors in dragging down the Euro and other currencies against the U.S. dollar. Even natural gas future price rose on Friday.

Here is a summary of the changes in precious metals and energy commodities for March 9th, 2012:

Precious Metals:

Gold price rose on Friday by 0.75% to $1,711.5; Silver price also increased by 1.13% and reached $34.21. During March, gold increased by 0.01% and silver fell by 1.24%. 

The Euro/USD was traded sharply down by 1.14% to 1.3123; the U.S Dollar appreciated against many other exchange rates such as the Canadian dollar.

Oil and Gas:

WTI price also rose by 0.77% to $107.40 per barrel; Brent oil also increased by 0.2% to $125.83 per barrel;

Due to these changes, the gap between Brent and WTI oil prices contracted to $18.43/bbl. During the month, WTI traded up by 0.3% while Brent oil edged up by 1.6%.

The Henry Hub future (April delivery) sharply rose by 2.2% to $2.32/mmbtu; the Henry Hub spot price on the other hand declined to $2.21/mmbtu; the difference between the spot and future reached $0.11/mmbtu, i.e. Contango.

A Summary of Changes for March 9th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 9

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