Gold and silver prices continue to zigzag and slightly inclined yesterday, after they had declined a day earlier; crude oil prices also sharply inclined; natural gas spot price also changed direction and inclined yesterday. Here is a summary of the price movements of precious metals and energy commodities for October 5th:
Precious Metals prices:
Gold price inclined yesterday by 0.75% to $1,628; Silver price, also increased by 0.87% to $30.10. During October, gold price rose by 0.4%, and silver price slightly increased by 0.1%.
The AUD to US Dollar exchange rate sharply inclined yesterday by 0.91% to 0.966 – i.e. the USD sharply depreciated against the AUD. The USD also depreciated yesterday against other currencies including the YEN and CAD.
Oil and Gas prices:
WTI oil price sharply rose yesterday by 5.30% to $79.68 per barrel; Brent oil price moderately increased by 0.95% to $103.15 per barrel;
Due these changes, the difference between Brent and WTI sharply fell to $23.47/bbl.
Natural gas Henry Hub future price (November delivery) declined by 1.92% to $3.57/mmbtu. The Henry Hub spot price on the other hand inclined by 1.97% to $3.62/mmbtu; the gap between the spot and future price sharply fell to -$0.05/mmbtu, i.e. backwardation.
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 Prices – Daily Outlook October 5
- Oil Prices – Daily Outlook October 4
- Weekly Outlook for October 3-7
Monthly Analysis and Outlook: