Gold & silver finished the week with sharp gains – September 2

Gold and silver prices bounced back from Thursday’s light falls and ended the week with sharp gains, in part due to the recent disappointing US labor report; on the other hand, crude oil prices declined yesterday, probably, in part due to falls in the stock markets; natural gas spot price (Henry Hub) changed direction and sharply dropped yesterday. Here is a summary of the price movements of precious metals and energy commodities for September 2nd:

Precious Metals prices:

Gold price sharply inclined yesterday by 2.61% to $1,876; Silver price also rose by 3.70% to $43.07. During August-September, gold prices increased by 15.1%, and silver price by 7.4%.

The EURO to US Dollar exchange rate decreased for the fourth straight business day, yesterday by 0.38% – i.e. the USD appreciated against the EURO. During August-September, the EURO to US Dollar slightly fell by 1.27%.

Oil and Gas prices:

WTI Spot oil price changed direction and declined by 2.79%; it settled at $86.45 per barrel; Brent spot price also fell by 1.49% to $112.96 per barrel; during August-September the WTI spot oil price declined by 9.7% and Brent oil by 3.3%.

Due to these changes, the difference between Brent and WTI rose to $26.51/bbl.

Natural gas Henry Hub future price (October delivery) sharply fell by 4.44% to $3.87/mmbtu. The Henry Hub spot price also declined by 1.91% to $4.10/mmbtu; the gap between the spot and future price widen to -$0.23, i.e. backwardation. During August-September, natural gas spot price (Henry Hub) fell by 3.8%.

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):

Current Gold price and Silver prices Crude spot oil prices, Natural gas spot price 2011 September 2


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