Gold and silver prices halted their rally and lost some ground yesterday after gold price inclined for six straight business days and silver price for seven; crude oil prices continued their recovery and rose yesterday; natural gas spot price (Henry Hub) also bounced back and inclined.
Here is a summary of the price movements of precious metals and energy commodities for August 23rd:
Precious Metals prices:
Gold price changed direction and decreased yesterday by 1.62% to $1,861; Silver price also declined by 2.39% to $42.33.
During August, gold prices increased by 14.1%, and silver price by 5.5%.
The EURO to US Dollar exchange rate continues to zigzag as it inclined yesterday by 0.58% – i.e. the USD depreciated against the EURO. During August, the EURO to US Dollar slightly rose by 0.30%.
Oil and Gas prices:
WTI Spot oil price inclined again by 1.37%; it settled at $85.27 per barrel; during August the WTI spot oil price declined by 10.9%. Brent spot price also rose by 1.32% to $110.30 per barrel.
Due to these changes, the difference between Brent and WTI inclined to $25.03/bbl.
Natural gas Henry Hub future price (September delivery) inclined by 2.57% to $3.99/mmbtu. The Henry Hub spot price also rose by 1.01% to $4.01/mmbtu; the gap between the spot and future price shrank to -$0.02, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 5.9%.
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: