Silver prices continue rising – daily recap 29th Dec

Silver prices continue to show strength as Silver future prices nearing 31 USD, and settled on 30.7 USD/ t. oz., a 1.26% increase.

Silver prices continue its rally as it rose by a total of 8.5% from the beginning of the month until yesterday.

Current Gold prices, much like Silver prices, also increased yesterday, however much more moderately, and it rose by 0.08% and settled on 1,414 USD/t. oz.

Natural gas prices continue to change with no apparent trend for this week:

The Natural gas spot price (Henry Hub) continue its rally as it rose for the second straight day, yesterday by 1.7%, while the Nymex Henry Hub Future (February delivery) fell by 0.3%, after it rose by 4.45% the day before.

New York City Gate Spot: after the storm in the Northeast of the U.S. subsided, the New York City Gate Spot continue to free fall after it had risen by a whopping 41% and reaching 10.2 $/MMBTU a 3 $/MMBTU rise at the beginning of the week; yesterday, it fell for the second day, this time by 32% and reached 4.98 $/MMBTU, and thus completing a 5.22 $/MMBTU fall.

I have explained here in the past the erratic behavior of the New York City gate spot, you can review it again in this link.

According to Bloomberg, they speculate that Gasoline future prices will drop substantially as 2011 will commence because of the expected decline in demand for Gasoline as the production of refineries on the rise (as refineries repairs and maintenance ended), and as Gasoline supplies are high.

Later on today the EIA (Energy information Administration) will publish later on today its weekly report about crude oil stocks and consumption in the passing week. To see my review on last week’s review about the EIA on crude oil stocks click here.

Crude oil price: after a couple of days in which it showed inclinations, yesterday it has cooled down a bit and moderately declined by less than half percent.

A summary of yesterday’s Prices Changes:

The following table presents the main descriptive data from last business day – December 29th, for precious metals, energy commodities and exchange rates. The table includes: settled prices, daily percent change, and quantitative change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Natural gas prices, Crude oil prices, Gold prices Silver prices Daily Recap Dec 29

For further reading: