November Started with Falls for Gold and Silver –Recap November 1

November started off with losses for major commodities: gold and silver prices started trading with sharp falls that turned by the end of the day to just light falls for gold price; crude oil prices also slightly declined. Natural gas prices ended started November with very sharp falls. Here is a summary of the price movements of precious metals and energy commodities for November 1st:

Precious Metals prices:

Gold price declined yesterday by 0.78% and reached $1,711.8; Silver price sharply decreased by 4.72% to reach $32.73. During the week, gold price fell by 2.0% and silver price decreased by 7.2%. 

The Euro to US Dollar exchange rate also sharply declined again to 1.3703 – i.e. the USD sharply appreciated against the Euro. Furthermore, the USD appreciated against other currencies such as CAD and AUD.

Oil and Gas prices:

WTI oil price slipped by 1.07% to $92.19 per barrel; Brent oil price also declined by 0.56% to $108.91 per barrel;

Due these changes, the gap between Brent and WTI slightly inclined to $16.72/bbl. During the week, WTI oil price fell by 1.2%, and Brent oil price decreased by 1.7%.

Natural gas Henry Hub future price (December delivery) sharply decreased by 3.56% to $3.79/mmbtu. The Henry Hub spot price also fell by 3.83% to $3.52/mmbtu; the gap between the spot and future price remained at $0.27, 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 November 1

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