Gold and silver prices sharply inclined yesterday for the second straight day; crude oil prices also sharply increased; natural gas spot price on the other hand changed direction again and sharply declined. Here is a summary of the price movements of precious metals and energy commodities for October 6th:
Precious Metals prices:
Gold price sharply inclined yesterday by 1.54% to $1,653; Silver price, even more than gold price, added 6.33% to its value to close at $32.01. During October, gold price rose by 1.9%, and silver price increased by 6.4%.
The Euro to US Dollar exchange rate inclined yesterday by 0.37% to 1.3437 – i.e. the USD depreciated against the EURO. The USD also depreciated yesterday against other currencies including the AUD and CAD.
Oil and Gas prices:
WTI oil price sharply inclined yesterday by 3.65% to $82.59 per barrel; Brent oil price increased by 2.67% to $105.90 per barrel;
Due these changes, the difference between Brent and WTI slightly fell to $23.31/bbl. During October, WTI oil price rose by 0.9%, and Brent oil price increased by 0.5%.
Natural gas Henry Hub future price (November delivery) inclined by 0.84% to $3.60/mmbtu. The Henry Hub spot price on the other hand sharply declined by 3.59% to $3.49/mmbtu; the gap between the spot and future price sharply inclined to $0.11/mmbtu, 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):
For further reading:
- Gold & Silver Prices – Daily Outlook October 6
- Oil Prices – Daily Outlook October 6
- Weekly Outlook for October 3-7
Monthly Analysis and Outlook: