Bullion and Nat Gas Started the Week Falling–Recap July 16th

Major commodities didn’t do much during the first day of the week. Crude oil prices including both WTI and Brent continued their rally on Monday; gold and silver rates changed direction and after they had increased on Friday, on Monday they edged down. Natural gas Henry Hub (August delivery) also declined but the spot price increased. The Euro edged up again against the USD. Several other currencies rates including the Aussie dollar also increased against USD.

Here is a summary of the daily changes in precious metals and energy commodities for July 16th, 2012:

Forex and Bullion Markets:

Gold edged down by 0.03% to $1,591.6; Silver also decreased by 0.18% and reached $27.32. During July, gold decreased by 0.79% and silver by 1.05%.

The Euro/USD edged up by 0.18% to 1.2271; further, the U.S Dollar declined against several currencies such as Aussie dollar by 0.22%.

Energy Commodities:

WTI oil price increased again yesterday by 1.53% to $88.43 per barrel;

Brent oil also rose by 1.73% to $104.4 per barrel;

Following these developments, the gap between Brent and WTI rose to $15.97/bbl. During the month, WTI increased by 4.08% and Brent oil by 7.6%.

Finally, the Henry Hub future (August delivery) decreased by 2.44% to $2.8/mmbtu; the Henry Hub spot increased to $2.92/mmbtu; the difference between the spot and future fell to -$0.12, Backwardation.

A Summary for July 16th:

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

 Gold Silver Crude oil Natural gas 2012 July 16

For further reading: