Major commodities were traded mostly up on the last business day of the week: the prices of Brent oil fell while WTI oil rose again on Friday; natural gas Henry Hub future (short term delivery) also increased yesterday; silver and gold prices slightly increased on Friday; the Euro changed direction and fell against the USD on Friday. Moreover, several other currencies such as the Aussie dollar also depreciated against the US dollar.
Here is a summary of the daily changes of precious metals and energy commodities for March 8th, 2013:
Forex and Bullion Markets:
On Friday, gold increased by 0.11% to $1,576.9; silver rose by 0.49% to $28.92. During the month, gold declined by 0.05%; silver rose by 1.86%.
On Friday, the Euro/USD tumbled down by 0.78% to 1.3005; the U.S Dollar depreciated against a few currencies such as Australian dollar by 0.31%.
WTI oil price rose again by 0.43% to $91.95 per barrel; Brent oil decreased by 0.27% to $110.85 per barrel;
Thus, the gap between Brent and WTI contracted again to $18.90/bbl. During the month, WTI inched down by 0.11%; Brent oil decreased by 0.48%.
Finally, the Henry Hub future (short term delivery) rallied again yesterday by 1.31% to reach $3.63/mmbtu.
A Summary for March 8th:
The table below includes: closing rates, daily percent changes, and daily shifts:
For further reading:
- Will The Gold Market Continue to Cool Down?
- Gold and Silver Outlook for March 4-8
- Weekly Outlook of Financial Markets for March 4-8
- Gold and Silver Outlook for March
- Gold and Silver Yearly Outlook For 2013