Gold and silver prices sharply fell yesterday and thus continued the correction they had started this week. The US stock markets bounced back and gained some of the losses they endured during recent days. Crude oil prices soon followed and sharply inclined as well. Natural gas spot price (Henry Hub) moderately inclined. Here is a summary of the price movements of precious metals and energy commodities for September 7th:
Precious Metals prices:
Gold price sharply fell yesterday by 2.97% to $1,817; Silver price also decreased by 0.57% to $41.63. During September, gold prices decreased by 0.8%, and silver price by 0.3%.
The EURO to US Dollar exchange rate changed direction after five consecutive days of falls; yesterday it rose by 0.71% to 1.4098 – i.e. the USD depreciated against the EURO. During September, the EURO to US Dollar declined by 1.89%.
Oil and Gas prices:
WTI Spot oil price sharply inclined by 3.86%; it settled at $89.34 per barrel; Brent spot price also increased by 2.25% to $116.19 per barrel; during September the WTI spot oil price inclined by 0.6% and Brent oil by 0.8%.
Due to these changes, the difference between Brent and WTI slipped to $26.85/bbl.
Natural gas Henry Hub future price (October delivery) remained unchanged at $3.94/mmbtu. The Henry Hub spot price slightly inclined by 0.51% to $3.95/mmbtu; the gap between the spot and future price remained at $0.01, i.e. contango. During September, natural gas spot price (Henry Hub) fell by 1.3%.
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: