Gold and silver prices fell for the second straight day: gold price is still up in August, but silver price is currently below its initial price level; crude oil prices have ended a five day drop and bounced back from the sharp fall they recorded on Thursday; natural gas spot price (Henry Hub) ended the week with falls.
Here is a summary of the price movements of precious metals and energy commodities for August 5th:
Precious Metals prices:
Gold price decreased yesterday by 0.43% to $1,651; Silver price also sharply declined on Friday by 3.09% reaching $38.21.
During August, gold prices increased by 1.3%, but silver price fell by 4.7%.
The EURO/ USD changed direction again sharply rose yesterday by 1.34%, as the USD depreciated against the EURO. During August the EURO/USD fell by 0.8% compared to its initial level at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price changed direction as well and moderately inclined by 0.29% to $86.88 per barrel; during August the WTI spot oil price declined by 9.2%. Brent spot price also increased by 2.24% to $109.76 per barrel.
Due to these rises, the difference between Brent and WTI rose to $22.88/bbl.
Natural gas Henry Hub future price (September delivery) remained unchanged at $3.94/mmbtu. The Henry Hub spot price fell by 4.99% to $4.00/mmbtu; the gap between the spot and future price reached -$0.06, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 6.1%.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
For further reading:
Monthly Analysis and Outlook: