Gold and silver prices sharply fell yesterday– September 15

Gold and silver prices sharply fell yesterday; the news of ECB to offer US dollar based loans to European banks may have helped push gold and silver prices down. Crude oil prices slightly inclined.  Natural gas spot price (Henry Hub) continues to rise. Here is a summary of the price movements of precious metals and energy commodities for September 15th:

Precious Metals prices:

Gold price sharply declined yesterday by 2.47% to $1,781; Silver price also decreased by 2.55% to $39.50. During September, gold prices decreased by 2.7% and silver price lost 5.4% of its value.

The EURO to US Dollar exchange rate inclined again, yesterday by 0.89% to 1.3877 – i.e. the USD depreciated against the EURO. During September, the EURO to US Dollar declined by 3.42%.

Oil and Gas prices:

WTI Spot oil price changed direction and inclined yesterday by 0.55%; it settled at $89.40 per barrel; Brent spot price on the other hand increased by 0.19% to $114.55 per barrel; during September the WTI spot oil price slightly inclined by 0.7% while Brent oil fell by 1.7%.

Due to these changes, the difference between Brent and WTI sharply inclined to $25.15/bbl.

Natural gas Henry Hub future price (October delivery) sharply fell by 3.72% to $3.88/mmbtu. The Henry Hub spot price on the other hand inclined by 0.75% to $4.04/mmbtu; the gap between the spot and future price sharply fell to -$0.16, i.e. backwardation. During September, natural gas spot price (Henry Hub) rose by 1.8%.

A summary of yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in prices and indexes in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Current Gold price and Silver prices Crude spot oil prices, Natural gas spot price 2011 September 15


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Monthly Analysis and Outlook: