Major commodities were traded mostly down on the third business day of the week: the prices of Brent oil and WTI oil declined on Wednesday; natural gas Henry Hub future (short term delivery) increased yesterday; silver and gold prices changed course and fell on Wednesday; the Euro slightly depreciated again against the USD on Wednesday. Conversely, several other currencies such as the Canadian dollar also depreciated against the US dollar.
Here is a summary of the daily shifts of precious metals and energy commodities for March 13th, 2013:
Forex and Bullion Markets:
On Wednesday, gold edged down by 0.21% to $1,588; silver also declined by 0.72% to $28.93. During the month, gold rose by 0.68%; silver, by 1.9%.
On Wednesday, the Euro/USD slipped by 0.57% to 1.2961; the U.S Dollar appreciated against a few currencies such as Australian dollar by 0.25%.
WTI oil price declined by 0.02% to $92.52 per barrel; Brent oil also fell by 1.03% to $108.52 per barrel;
Thus, the gap between Brent and WTI contracted again to $16/bbl. During the month, WTI rose by 0.51%; Brent oil decreased by 2.57%.
Finally, the Henry Hub future (short term delivery) changed course and rallied yesterday by 0.96% to reach $3.68/mmbtu.
A Summary for March 13th:
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 11-15
- Weekly Outlook of Financial Markets for March 11-15
- Gold and Silver Outlook for March
- Gold and Silver Yearly Outlook For 2013