Major commodities declined during the second day of August after there weren’t any changes in the monetary policy of the major Central Banks including FOMC and ECB: crude oil price (WTI) fell while Brent oil edged up on Thursday; gold and silver prices continued to fall; natural gas Henry Hub (August delivery) and spot price also tumbled down. The Euro declined again on Thursday. Several exchange rates including the Canadian dollar also decreased against USD.
Here is a summary of the daily changes in precious metals and energy commodities for August 2nd, 2012:
Forex and Bullion Markets:
Gold fell by 1.03% to $1,590.7; Silver also declined by 1.96% and reached $27. During the week, gold decreased by 2%; silver, by 1.8%.
The Euro/USD also declined by 0.37% to 1.218; further, the U.S Dollar also depreciated against many other currencies such as Canadian dollar by 0.19%.
WTI oil price declined yesterday by 2% to $87.13 per barrel;
Brent oil on the other hand rose by 0.53% to $106.39 per barrel;
Following these changes, the difference between Brent and WTI rose to $19.26/bbl. During the week, WTI decreased by 3.3% and Brent oil by 1.4%.
Finally, the Henry Hub future (August delivery) tumbled down by 7.89% to $2.92/mmbtu; the Henry Hub spot also decreased to $3.15/mmbtu; the difference between the spot and future fell to -$0.23, backwardation.
A Summary for August 2nd:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: