Silver and Gold Tumbled Down–Recap March 14th

Gold and silver prices tumbled down yesterday and thus they have both reached their lowest level in 2012. This means the rally of bullion prices during January was whipped clean. Crude oil prices also declined; natural gas future price also resumed its downward trend. The Euro also sharply fell against the U.S. dollar.

Here is a summary of the changes in precious metals and energy commodities for March 14th, 2012:

Precious Metals:

Gold price sharply declined by 3.03% to $1,642.9; Silver price also decreased by 4.17% and reached $32.18. During March, gold decreased by 4% and silver by 7.1%.

The Euro/USD was traded sharply down by 0.93% to 1.3033; furthermore, the U.S Dollar appreciated against many other exchange rates such as the Australian dollar.

Oil and Gas:

WTI price also traded down by 1.2% to $105.43 per barrel; Brent oil also decreased by 0.98% to $125.06 per barrel;

Due to these changes, the gap between Brent and WTI oil prices slightly expanded to $19.63/bbl. During the month, WTI traded down by 1.5% while Brent oil edged up by 0.9%.

The Henry Hub future (April delivery) slightly fell by 0.65% to $2.28/mmbtu; the Henry Hub spot price declined to $2.10/mmbtu; the difference between the spot and future reached $0.18/mmbtu, i.e. Contango.

A Summary of Changes for March 14th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 14

For further reading: