Commodities Changed Direction and Fell –Daily Recap October 13

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):

Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 October 13


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 Monthly Analysis and Outlook: