Gold and Silver Shifted to Red –Daily Recap October 4

Gold and silver prices changed direction again and sharply declined yesterday; WTI crude oil price also sharply declined, while Brent oil price bounced back; natural gas spot price continued its downward trend and fell yesterday. Here is a summary of the price movements of precious metals and energy commodities for October 4th:

Precious Metals prices:

Gold price sharply declined yesterday by 2.52% to $1,616; Silver price, also decreased by 2.37% to $30.80.

The EURO to US Dollar exchange rate also changed direction and inclined yesterday by 1.31% to 1.3348 – i.e. the USD sharply depreciated against the EURO. The USD also depreciated yesterday against other currencies including the GBP, AUD and CAD.

Oil and Gas prices:

WTI oil price sharply fell yesterday by 2.50% to $75.67 per barrel; Brent oil price on the other hand increased by 1.10% to $102.18 per barrel;

Due these changes, the difference between Brent and WTI sharply increased to $26.51/bbl.

Natural gas Henry Hub future price (November delivery) slightly inclined by 0.55% to $3.64/mmbtu. The Henry Hub spot price declined by 0.56% to $3.55/mmbtu; the gap between the spot and future price rose to $0.09/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 4


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