Gold, Silver and Oil Rallied on Wednesday – Recap December 12th

Many commodities prices rose on the third business day of the week following the recent FOMC decision to expand QE3 and purchase long term treasuries at a rate of $45 billion per month: WTI and Brent oil prices increased again yesterday; the prices of gold and silver also rose on Wednesday; natural gas Henry Hub future (short term delivery) continue to fall on Wednesday; the Euro rose again against the USD on Wednesday. Many other currency pairs including the Aussie dollar also appreciated against the USD.

Here is a summary of the daily developments of precious metals and energy commodities for December 12th, 2012:

Forex and Bullion Markets:

On Wednesday, gold rose by 0.48% and reached $1,716.6; Silver also increased by 2.3% to $33.71. During the month, gold increasedby 0.33%; silver, by 1.5%.

On Wednesday,the Euro/USD increased again by 0.56% to 1.3077; the U.S Dollar also depreciated against some other currencies such as Aussiedollar by 0.26%.

Energy Commodities:

WTI oil price rose again by 1.14% to $86.77 per barrel; Brent oil also rose by 1.38% to $109.5 per barrel;

Thus, the gap between Brent and WTI widen again to $22.73/bbl. During the month, WTI decreased by 2.4%; Brent oil, by 1.6%.

Finally, the Henry Hub future (short term delivery) fell again by 0.88% to $3.38/mmbtu.

A Summary for December 12th:

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

Gold Silver Crude oil Natural gas 2012 December 12

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