Crude Oil, Silver and Gold Prices Lose Value over Weekend

gold neclace

(Best Syndication News) Gold, oil, and silver prices are tumbling as markets open mixed in Europe after closing mixed in Asia (see futures charts below). Last week commodities closed higher but the trend is changing in the wee hours of Monday.

The Hang Seng Index (Hong Kong) advanced 0.23 percent, while the Nikkei 225 (Japan) and the Shanghai (China) composite indexes closed lower. The DAX (Germany) is opening higher early Monday while the FTSE 100 (England) and the CAC-40 (France) are lower.

The Nikkei was higher throughout most of Monday after positive economic news came in from the United States.

A report over the weekend that China experienced their largest trade deficit since 1989 may have soured the confidence. A significant drop in exports contributed to the February deficit.

While some investors see the deficit as a positive development, others see the deficit as a signal that global growth is slowing.

Precious Metals

April gold on the COMEX was higher on Friday, however the precious metal fell $11.30 to $1700.20 a troy ounce since the settle. Gold gained 0.10 percent on the week (see the survey #2 chart below).

May silver futures slipped 38 cents to $33.825 an ounce. The ratio between gold and silver tightened to 50.0.

Platinum and palladium were higher on Friday, but were lower on the week.

Gold and silver advanced on the Tokyo Commodity Exchange (TOCOM). Gold gained 75 yen (+1.68%) to ¥4,552 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

April light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) gained 0.77 percent on Friday. Since the settle on Friday WTI fell $1.11 to $106.29 a barrel.

Brent crude oil on the Intercontinental Exchange (ICE) added 54 cents on Friday. The ratio between the two benchmarks tightened to $18.58.

Heating oil was lower; however natural gas prices were higher. Over the last 30-day period natural gas is down more than 15 percent.

Agricultural Commodities

Cocoa was higher Friday while sugar and coffee were lower on the Coffee, Sugar and Cocoa Exchange (CSCE). Coffee was down 1.54 percent and sugar was down 2.03 percent (see the survey #1 chart below).

Corn advanced while Soybeans fell on the CBOT. Wheat gained 1.26 percent.

Feeder cattle and live cattle were lower on the CME while lean hogs were higher.

By: Tom Madison
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

3/9/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥
Change
Change Change Change Change
4,552 Gold (standard) $1,721.61 75 1.68% 1.72% 6.23% 8.85%
90.3 Silver $34.91 2 2.61% 2.61% 8.93% 14.30%
4,497 Platinum (standard) $1,700.81 91 2.07% 2.93% 11.92% 15.75%
1,890 Palladium $714.82 52 2.83% 1.61% 10.85% 22.09%
76,230 Gasoline $3.51 1,030 1.37% 3.22% 14.93% 20.24%
62,010 Crude oil $119.89 850 1.39% 3.18% 19.18% 22.99%
336 Rubber $1.85 0 -0.09% 0.78% 6.16% 5.23%
50.41 Ratio Gold/Silver -0.47 6 -0.91% -0.87% -2.47% -4.77%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
3/9/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2214.00 Aluminum 3-mo LME 0.00 0.00% -5.08% -2.12% 0.23%
125.98 Brent crude (not settled) 0.54 0.43% 1.88% 13.03% 12.25%
58.75 Coal 0.60 1.03% -0.84% -4.39% -20.96%
3.86 Copper HG 0.07 1.77% -0.95% -0.78% 13.32%
107.40 Crude oil (WTI) 0.82 0.77% 0.66% 7.87% 23.73%
2.27 Ethanol ZE CBOT 0.02 0.89% 0.27% 3.14% -16.11%
1711.50 Gold GC 12.80 0.75% 0.10% -1.20% 1.69%
3.26 Heating Oil (HO) -0.01 -0.17% 1.94% 6.30% 6.81%
2.32 Natural gas NG HH 0.05 2.29% -6.44% -15.67% -37.24%
708.20 Palladium PA 10.80 1.55% -0.37% 2.67% 14.24%
1684.90 Platinum PL 28.20 1.70% -0.40% 3.98% 8.74%
3.33 RB RBOB Gasoline 0.02 0.56% 1.84% 13.86% 17.97%
34.21 Silver SI 0.38 1.13% -0.91% 1.25% 6.45%
690.00 Steel Hot-Roll Coil 0.00 0.00% -0.43% -4.83% 3.76%
50.70 UxC Uranium U3O8 -0.80 -1.55% -2.50% -2.97% -4.34%
3/9/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
370.5 Average All 3.82 1.04% -0.19% 0.89% 6.03%
698.9 Metals Average 8.57 1.24% -0.22% 1.48% 6.41%
43.3 Energy Average 0.29 0.68% 0.83% 7.02% 6.19%
50.0 Ratio Gold/Silver Prices -0.19 -0.37% 1.02% -2.41% -4.47%
-26.6 Difference Plat-Gold 15.40 -36.67% 46.96% -76.21% -80.07%
1.02 Ratio Plat/Gold -0.01 -0.93% 0.50% -4.98% -6.48%
1.2 Ratio Brent / WTI Prices 0.00 -0.34% 1.22% 4.78% -9.28%
$18.58 Difference Brent - CL -0.28 -1.48% 9.62% 56.13% -26.94%

Survey #1:

Friday Survey #1 One-Day One-Day 1 Week 30-Day 100-Day
3/9/2012 Commodity $ Change % Change % Change % Change % Change
19,100.00 Nickel 3-mo B 0.00 0.00% -3.29% N/A N/A
2,037.00 Zinc 3-mo B 0.00 0.00% -3.23% N/A N/A
2,214.00 Aluminum 3-mo B 0.00 0.00% -5.08% -2.12% 0.23%
125.35 Brent Crude 0.39 0.31% 1.37% 12.46% 11.69%
2,386.00 Cocoa 7.00 0.29% 2.05% 1.06% -11.04%
185.75 Coffee -2.90 -1.54% -7.70% -14.64% -22.43%
3.859 Copper 0.04 0.97% -1.24% -0.59% 13.27%
643 Corn X 100 8.75 1.38% -1.61% 0.12% 0.67%
88.8 Cotton -1.45 -1.61% 0.65% -7.50% -12.89%
585 CRB Com Index 1.50 0.26% -2.17% -1.85% -2.17%
107.42 Crude oil 0.32 0.30% 0.86% 7.68% 24.30%
157.23 Feeder cattle -1.07 -0.68% -2.76% 1.70% 9.00%
1,708.50 Gold GC 3.60 0.21% -0.18% -1.50% 2.24%
87.8 Lean hogs 0.37 0.42% -2.82% 0.54% -2.42%
126.25 Live cattle -0.33 -0.26% -2.88% -1.71% 2.49%
2.42 Natural gas 0.04 1.68% -6.20% -12.64% -40.83%
188.5 Orange juice -1.50 -0.79% -1.10% -11.02% 12.54%
717 Palladium 0.00 0.00% 0.00% 3.86% 15.01%
1,687.00 Platinum 13.70 0.82% -0.74% 3.83% 8.39%
34.34 Silver SI 0.39 1.15% -1.27% 1.09% 6.75%
1,337.00 Soybeans X 100 -0.50 -0.04% 0.49% 9.75% 5.40%
23.61 Sugar -0.49 -2.03% -5.75% -2.48% -15.32%
3.2317 Unleaded gasoline 0.01 0.43% 2.26% 10.40% 17.58%
643 Wheat X 100 8.00 1.26% -4.53% -0.69% 3.17%
3/9/2012 Commodity Type Change One-Day 1 Week 30-Day 100-Day
593.81 Average (All) -Alum 1.64 0.28% -1.17% 0.93% 0.50%
59.61 Energy 0.19 0.32% 1.07% 9.91% 16.03%
123.76 Livestock * -0.34 -0.28% -2.82% 0.24% 3.69%
686.96 Agricultural 2.11 0.31% -0.09% 1.42% -4.41%
830.14 Metals Minus Aluminum 3.55 0.43% -0.38% 1.55% 6.80%
0.28 Daily % Change (All) -Alum -0.74 -72.68% 223.27% -151.44% -66.42%

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