Gold and Silver Bounced Back on Wednesday –Recap March 7th

Gold and silver prices bounced back from the recent tumble during; crude oil prices also rallied yesterday; on the other hand, natural gas future price resumed its downward trend. The Euro slightly appreciated again against the US Dollar.

Here is a summary of the developments of precious metals and energy commodities for March 7th, 2012:

Precious Metals:

Gold price increased on Wednesday by 0.71% to $1,683.8; Silver price also sharply rose by 2.45% and reached $33.59. During March, gold decreased by 1.6% and silver by 3.05%. 

The Euro/USD was traded up by 0.29% to 1.3149; the U.S Dollar depreciated against many other exchange rates such as the Canadian dollar.

Oil and Gas:

WTI price also sharply increased by 1.39% to $106.16 per barrel; Brent oil also increased by 1.11% to $124.11 per barrel;

Due to these changes, the gap between Brent and WTI oil prices contracted to $17.95/bbl. During the month, WTI slipped by 0.8% while Brent oil edged up by 0.2%.

The Henry Hub future (April delivery) sharply fell by 2.54% to $2.30/mmbtu; the Henry Hub spot price also declined to $2.24/mmbtu; the difference between the spot and future reached $0.06/mmbtu, i.e. Contango.

A Summary of Changes for March 7th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 7

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