Gold Silver and Oil Dwindled on Tuesday– Recap October 2nd

Several commodities changed direction and traded down on the second day of the week: WTI oil and Brent oil declined yesterday; gold and silver also changed direction and fell on Tuesday; natural gas Henry Hub future (October delivery) and spot price continued their upward trend and rose on Tuesday; the Euro appreciated again against the USD on Tuesday. Several other currency pairs including the Aussie dollar fell again the USD.

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

Forex and Bullion Markets:

On Tuesday, gold decreased by 0.43% to $1,775.6; Silver also declined by 0.81% to reach $34.67. During the month, gold increased by 0.1%; silver, by 0.27%.

On Tuesday, the Euro/USD also increased by 0.23% to 1.292; on the other hand, the U.S Dollar appreciated against several other currencies including Aussie dollar by 0.93%.

Energy Commodities:

WTI oil price declined yesterday by 0.64 % to $91.89 per barrel;

Brent oil also decreased by 0.66% to $111.40 per barrel;

Following these changes, the difference between Brent and WTI slipped to $19.51/bbl. During the month, WTI declined by 0.33%; Brent oil, by 1.6%.

Finally, the Henry Hub future (November delivery) rose again by 1.44% to $3.53/mmbtu; the Henry Hub spot also rose to $3.2/mmbtu; the gap between the spot reached to $0.29, i.e. contango.

A Summary for October 2nd:

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

Gold Silver Crude oil Natural gas 2012 October 2

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