Gold and silver prices renewed their rally as they have inclined yesterday; crude oil prices moderately moved yesterday with no clear direction; natural gas prices also demonstrated a mixed trend with the future price (short term) sharply fell, while the spot price slightly increased. Here is a summary of the price movements of precious metals and energy commodities for October 12th:
Precious Metals prices:
Gold price sharply inclined yesterday by 1.30% to $1,682; Silver price, also added 2.47% to its value to reach $32.79. During October, gold price inclined by 3.7% and silver price increased by 9.0%.
The Euro to US Dollar exchange rate sharply inclined yesterday by 1.11% to 1.3792 – i.e. the USD depreciated against the Euro. The USD also depreciated yesterday against other currencies including the AUD and CAD.
Oil and Gas prices:
WTI oil price slightly decreased yesterday by 0.28% to $85.57 per barrel; Brent oil price on the other hand increased by 0.76% to $110.18 per barrel;
Due these changes, the difference between Brent and WTI rose to $24.61/bbl. During October, WTI oil price rose by 8.0%, and Brent oil price increased by 4.5%.
Natural gas Henry Hub future price (November delivery) sharply declined by 3.59% to $3.49/mmbtu. The Henry Hub spot price on the other hand added 0.57% to its value and settled at $3.54/mmbtu; the gap between the spot and future price plummeted 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):
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For further reading:
- Gold & Silver Prices – Daily Outlook October 12
- Oil Prices – Daily Outlook October 12
- Weekly Outlook for October 10-14
Monthly Analysis and Outlook: