Gold and silver price changed direction again and slightly declined on the first day of the week; crude oil prices also started the week slipping; natural gas spot prices on the other hand sharply inclined. Here is a summary of the price movements of precious metals and energy commodities for October 17th:
Precious Metals prices:
Gold price shed 0.38% off its value and reached $1,676; Silver price, also declined by 1.09% to reach $31.82. During October, gold price inclined by 3.3% and silver price increased by 5.8%.
The Euro to US Dollar exchange rate decreased yesterday by 1.04% to 1.3737 – i.e. the USD appreciated against the Euro. Furthermore, the USD appreciated yesterday against other currencies including the AUD and GBP.
Oil and Gas prices:
WTI oil price slightly decreased yesterday by 0.48% to $86.38 per barrel; Brent oil price sharply fell by 3.31% to $111.68 per barrel;
Due these changes, the difference between Brent and WTI declined to $25.30/bbl. During October, WTI oil price rose by 5.5%, and Brent oil price increased by 5.9%.
Natural gas Henry Hub future price (November delivery) slightly fell by 0.27% to $3.69/mmbtu. The Henry Hub spot price on the other hand sharply increased by 6.59% to $3.72/mmbtu; the gap between the spot and future price sharply fell to -$0.03/mmbtu, i.e. backwardation.
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 17
- Oil Prices – Daily Outlook October 17
- Weekly Outlook for October 17-21
Monthly Analysis and Outlook: