Gold and silver prices continued their downward trend they have started during the second part of last week. Yesterday, however they have declined by a moderate rate. Crude oil prices bounced back form the falls of last week and slightly inclined yesterday; natural gas prices (Henry Hub) also gained back some of last week’s losses. Here is a summary of the price movements of precious metals and energy commodities for September 26th:
Precious Metals prices:
Gold price declined yesterday by 2.74% to $1,594; Silver price slightly decreased by 0.42% to $29.98. During September, gold prices decreased by 12.9% and silver price shed 28.2% of its value.
The EURO to US Dollar exchange rate inclined yesterday by 0.24% to 1.3533 – i.e. the USD depreciated against the EURO. The USD also depreciated yesterday against other currencies including the AUD and CAD. During September, the EURO to US Dollar fell by 5.82%.
Oil and Gas prices:
WTI spot oil price bounced back and inclined yesterday by 0.83% to $80.24 per barrel; Brent oil price also increased by 0.58% to $107.26 per barrel; during September the WTI spot oil price declined by 9.6% and Brent oil price fell by 7.9%.
Despite these changes, the difference between Brent and WTI nearly didn’t change and reached $27.02/bbl.
Natural gas Henry Hub future price (October delivery) rose by 2.16 to $3.78/mmbtu. The Henry Hub spot price inclined by 1.34% to $3.79/mmbtu; the gap between the spot and future price slipped to -$0.01, i.e. backwardation. During September, natural gas spot price (Henry Hub) shed 4.5% of its price.
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 Price – Daily Outlook 26 September
- Oil Prices – Daily Outlook September 26
- Gold vs. U.S. Treasuries – Which is the True Safe Haven?
Monthly Analysis and Outlook: