Silver and Gold Bounced Back on Thursday –Recap March 1st

Gold and silver prices bounced back and rose on Thursday after their dive on Wednesday; crude oil prices continued their rally and rose again for the second consecutive day; natural gas future price sharply fell on Thursday. The Euro slightly depreciated again against the US Dollar.

Here is a summary of the developments of precious metals and energy commodities for March 1st, 2012:

Precious Metals:

Gold price slightly increased on Thursday by 0.64% to $1,722.2; Silver price sharply rose by 2.94% and reached $35.66. During the week, gold decreased by 1% while silver increased by 0.7%. 

The Euro/USD was traded down by 0.11% to 1.3311; the U.S Dollar depreciated against other exchange rates including the Aussie dollar.

Oil and Gas:

WTI price sharply increased by 1.65% to $108.84 per barrel; Brent oil also increased by 2% to $126.37 per barrel;

Due to these changes, the difference between Brent and WTI oil prices increased to $17.53/bbl. During the week, WTI slipped by 0.6% and Brent by 0.2%.

The Henry Hub future price (April delivery) sharply fell by 5.75% to $2.46/mmbtu; the Henry Hub remained at $2.44/mmbtu; the difference between the spot and future reached $0.02/mmbtu, i.e. Backwardation.

A Summary of Changes for March 1st:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 1

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