Major energy commodities were traded mostly down on the third business day of the week: the prices of Brent oil and WTI oil changed course and decreased on Wednesday; natural gas Henry Hub future (short term delivery) also fell yesterday; silver rose while gold prices remained unchanged on Wednesday; the Euro also fell against the USD on Wednesday. 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 6th, 2013:
Forex and Bullion Markets:
On Wednesday, gold remained at $1,574.9; silver increased again by 0.7% to $28.78. During the month, gold declined by 0.18%; silver rose by 1.35%.
On Wednesday, the Euro/USD decreased by 0.65% to 1.2967; the U.S Dollar appreciated against a few currencies such as Australian dollar by 0.25%.
WTI oil price changed course and fell by 0.43% to $90.43 per barrel; Brent oil also decreased by 0.49% to $111.06 per barrel;
Thus, the gap between Brent and WTI contracted to $20.63/bbl. During the month, WTI decreased by 1.76%; Brent oil inched down by 0.29%.
Finally, the Henry Hub future (short term delivery) also fell yesterday by 1.67% to reach $3.47/mmbtu.
A Summary for March 6th:
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