Crude oil continued to trade down for the second consecutive day, while precious metals changed direction and sharply increased during yesterday’s trading: silver added 4.5% to its value while gold only 0.76%. The Euro slightly appreciated again against the US Dollar; the same goes for other major currencies (e.g. Canadian dollar). Here is a summary of the developments of precious metals and energy commodities for February 28th, 2012:
Precious Metals:
Gold price increased on Tuesday by 0.76% to $1,788.4; Silver price sharply rose by 4.5% and reached $37.21. During February, gold increased by 2.8% and silver by 11.85%.
The Euro/USD was traded up by 0.46% to 1.3458; the U.S Dollar depreciated against other exchange rates such as the Canadian dollar.
Oil and Gas:
WTI price sharply decreased by 1.85% to $106.55 per barrel; Brent oil fell by 1.84% to $122.45 per barrel;
Due to these changes, the difference between Brent and WTI oil prices decreased to $15.90/bbl. During the month, WTI rose by 8.2% and Brent by 10.4%.
The Henry Hub future price (March delivery) sharply fell by 3.08% to $2.52/mmbtu; the Henry Hub declined to $2.42/mmbtu; the difference between the spot and future reached $0.10/mmbtu, i.e. Contango.
A Summary of Changes for February 28th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: