Gold and Silver Kept on Rising –Recap January 5

Gold and silver prices continued their upward trend and finished yesterday rising; crude oil prices changed direction and ended up yesterday dropping; natural gas prices also declined. Major currencies such as Euro and Australian dollar sharply depreciated against the U.S dollar. Here is a summary of the price developments of precious metals and energy commodities for January 5th, 2012:

Precious Metals Prices:

Gold price increased on Thursday by 0.46% to $1,620.10; Silver price also rose by 0.68% to reach $29.30. During January, gold price increased by 3.4%, and silver price by 4.95%. 

The Euro/USD sharply fell yesterday by 1.21% to 1.2788; the U.S Dollar appreciated against other currencies such as the Australian dollar.

Oil and Gas Prices:

WTI oil price changed direction and declined yesterday by 1.37% to $101.81 per barrel; Brent oil price also decreased by 1.16% to $112.10 per barrel;

Due to these changes, the gap between Brent oil price and WTI oil prices slightly rose to $10.29/bbl. During January, WTI oil price increased by 3.0%, and Brent oil price by 4.2%.

Natural gas Henry Hub future price (February delivery) sharply declined by 3.87% to $2.98 /mmbtu. The Henry Hub spot price also fell to $2.91 /mmbtu; the difference between the spot and future price declined to $0.07, i.e. Contango.

A Summary of Yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in prices and indexes in USD (except for USD/CAD, in which the change is in Canadian dollar):

 Gold price and Silver prices Crude oil prices, Natural gas spot price 2012  January 5

For further reading:

Weekly Analysis and Outlook: