Silver and Gold Ended the Week Falling –Recap March 2nd

Gold and silver prices continue to zigzag as they have declined on the last trading day of the week; crude oil prices also sharply fell on Friday after they had risen for two consecutive days; natural gas future price moderately increased. The Euro sharply depreciated again against the US Dollar.

Here is a summary of the developments of precious metals and energy commodities for March 2nd, 2012:

Precious Metals:

Gold price decreased on Friday by 0.72% to $1,709.8; Silver price sharply fell by 3.19% and reached $34.53. During the week, gold decreased by 3.7% and silver by 2.5%. 

The Euro/USD was traded down by 0.85% to 1.3198; the U.S Dollar appreciated against other exchange rates including the Canadian dollar.

Oil and Gas:

WTI price sharply decreased by 1.97% to $106.70 per barrel; Brent oil also decreased by 1.57% to $124.39 per barrel;

Due to these changes, the difference between Brent and WTI oil prices increased to $17.69/bbl. During the week, WTI slipped by 2.5% and Brent by 1.8%.

The Henry Hub future price (April delivery) edged up by 0.81% to $2.48/mmbtu; the Henry Hub fell to $2.36/mmbtu; the difference between the spot and future reached $0.12/mmbtu, i.e. Contango.

A Summary of Changes for March 2nd:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 2

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