Gold and silver prices changed direction and much like other commodities’ prices, they have closed yesterday’s trading day falling. Crude oil prices also slightly declined; natural gas spot prices sharply fell, while the future price (short term) slightly increased. Here is a summary of the price movements of precious metals and energy commodities for October 13th:
Precious Metals prices:
Gold price shed 0.84% of its value to reach $1,668; Silver price, also declined by 3.42% to reach $31.67. During October, gold price inclined by 2.8% and silver price increased by 5.3%.
The Euro to US Dollar exchange rate slipped yesterday by 0.10% to 1.3778 – i.e. the USD appreciated against the Euro. On the other hand, the USD depreciated yesterday against the more risk currencies including the AUD and CAD.
Oil and Gas prices:
WTI oil price decreased yesterday by 1.25% to $84.23 per barrel; Brent oil price also fell by 0.26% to $112.15 per barrel;
Due these changes, the difference between Brent and WTI sharply inclined to $27.92/bbl. During October, WTI oil price rose by 2.9%, and Brent oil price increased by 6.4%.
Natural gas Henry Hub future price (November delivery) inclined by 1.46% to $3.54/mmbtu. The Henry Hub spot price on the other hand shed 3.39% of its value to $3.42/mmbtu; the gap between the spot and future price sharply rose to $0.12/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 13
- Oil Prices – Daily Outlook October 12
- Weekly Outlook for October 10-14
Monthly Analysis and Outlook: