Gold and silver prices changed direction again and fell yesterday for the first time since August 24th; crude oil prices continued to climb as they rose for the third straight business days; natural gas spot price (Henry Hub) on the other hand kept falling.
Here is a summary of the price movements of precious metals and energy commodities for August 29th:
Precious Metals prices:
Gold price slightly declined yesterday by 0.32% to $1,791; Silver price also slightly fell by 0.98% to $40.60. During August, gold prices increased by 9.8%, and silver price by only 1.2%.
The EURO to US Dollar exchange rate increased by 0.08% – i.e. the USD depreciated against the EURO. During August, the EURO to US Dollar slightly rose by 0.78%.
Oil and Gas prices:
WTI Spot oil price inclined by 2.23%; it settled at $87.27 per barrel; during August, the WTI spot oil price declined by 8.8%. Brent spot price also rose by 1.06% to $113.09 per barrel.
Due to these changes, the difference between Brent and WTI declined to $25.82/bbl.
Natural gas Henry Hub future price (September delivery) fell by 2.54% to $3.83/mmbtu. The Henry Hub spot price also declined by 1.26% to $3.91/mmbtu; the gap between the spot and future price widen again to -$0.08, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 8.2%.
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):
For further reading:
Monthly Analysis and Outlook: