Oil and Aussie Dollar Rallied on Wednesday – Recap January 16th

Major commodities were traded in an unclear direction on the third business day of the week: the price of Brent oil and WTI oil bounced back and rallied yesterday; the prices of gold and silver remained virtually unchanged on Wednesday; natural gas Henry Hub future (short term delivery) changed direction and fell yesterday; the Euro slipped against the USD on Wednesday. On the other hand, several other currency pairs such as the Aussie dollar appreciated against the USD.

Here is a summary of the daily developments of precious metals and energy commodities for January 16th, 2013:

Forex and Bullion Markets:

On Wednesday, gold inched down by 0.04% and reached $1,683.2; silver increased by 0.05% to $31.52. During the month, gold rose   by 0.5%; silver, by 4.45%.

On Wednesday,the Euro/USD declined again by 0.14% to 1.3287; the U.S Dollar depreciated against some currencies such as Aussie  dollar by 0.08%.

Energy Commodities:

WTI oil price bounced back and rose by 1.03% to $94.24 per barrel; Brent oil increased by 0.28% to $110.61 per barrel;

Thus, the difference between Brent and WTI narrowed to $16.37/bbl. During the month, WTI increased by 2.6%; Brent oil declined by 0.5%.

Finally, the Henry Hub future (short term delivery) changed direction and declined yesterday by 0.58% to $3.44/mmbtu.

A Summary for January 16th:

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

Gold Silver Crude oil Natural gas 2012 January 16

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