Gold and Silver Continued to Trade Up –Recap February 2

Gold and silver prices continued their rally as they have finished yesterday’s trading rising. Crude oil (WTI) continued its downward trend while Brent oil rose; the gap between the two has risen to its highest level since November 9th 2011. Natural gas future price changed direction again and sharply rose yesterday. The Euro and many other currencies slightly fell yesterday against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 2nd, 2012:

Precious Metals:

Gold price rose again on Thursday by 0.56% to $1,759.3; Silver price also traded up by 1.09% to $34.18. During the week, gold rose by 1.4% and silver by 1.1%. 

The Euro/USD slightly decreased by 0.12% to 1.3144; the U.S Dollar also appreciated against other currencies such as the British Pound.

Oil and Gas:

WTI price traded down again by 1.28% to $96.36 per barrel; Brent oil on the other hand increased by 1.26% to $111.97 per barrel;

Due to these changes, the difference between Brent and WTI oil prices sharply rose to $15.61/bbl. During the week, WTI slipped by 3.2%, and Brent rose by 1.1%.

The Henry Hub future price (March delivery) changed direction again and sharply rose by 7.14% to $2.55/mmbtu; the Henry Hub spot fell to $2.30/mmbtu; the difference between the spot and future sharply rose to $0.25, i.e. Contango.

A Summary of Changes for February 2nd:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 2

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