Oil and Gold Fell on Tuesday – Recap May 7th

Major commodities prices mostly trade down on the second business day of the week: the prices of Brent and WTI oil changed direction and fell on Tuesday; natural gas Henry Hub future (short term delivery) sharply decreased yesterday; silver and gold prices also fell on Tuesday; the Euro slightly rose against the USD on Tuesday. On the other hand, several currencies such as the Aussie dollar depreciated against the U.S dollar.

Here is a summary of the daily developments of precious metals and energy commodities as of May 7th, 2013:

Forex and Precious Metals Markets:

On Tuesday, gold fell by 1.31% to $1,448; silver decreased by 0.61% to $23.79. During the month, gold slipped    by 1.59%; silver, by 1.47%.

On Tuesday, the Euro/USD slightly rose by 0.02% to 1.3079; conversely, the U.S Dollar appreciated against several currencies such as Aussie  dollar by 0.67%.

Energy Commodities:

WTI oil price also fell by 0.56% to $95.62 per barrel; Brent oil also decreased by 1.01% to $104.4 per barrel;

Thus, the gap between Brent and WTI contracted to $8.78/bbl. During the month, WTI rose by 2.31%; Brent oil, by 1.98%.

Finally, the Henry Hub future (short term delivery) sharply fell yesterday by 2.27% and settled at $3.92/mmbtu.

A Summary for May 7th:

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

Gold Silver Crude oil Natural gas 2012 May 7

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