Gold and silver prices made a correction to the sharp falls they have endured in the past several days as they finished the week with sharp gains; crude oil prices ended the week falling; natural gas spot price (Henry Hub) changed direction and sharply declined yesterday. Here is a summary of the price movements of precious metals and energy commodities for September 16th:
Precious Metals prices:
Gold price sharply increased yesterday by 1.87% to $1,814; Silver price also inclined by 3.37% to $40.83. During September, gold prices decreased by 0.9% and silver price lost 2.2% of its value.
The EURO to US Dollar exchange rate also changed direction and fell yesterday by 0.58% to 1.3796 – i.e. the USD appreciated against the EURO. During September, the EURO to US Dollar declined by 3.99%.
Oil and Gas prices:
WTI Spot oil price changed direction again and declined yesterday by 1.61%; it settled at $87.96 per barrel; Brent spot price slightly fell by 0.15% to $114.38 per barrel; during September the WTI spot oil price slightly declined by 1.0% while Brent oil fell by 1.8%.
Due to these changes, the difference between Brent and WTI sharply inclined to $25.15/bbl.
Natural gas Henry Hub future price (October delivery) fell by 1.80% to $3.81/mmbtu. The Henry Hub spot price sharply declined by 4.95% to $3.84/mmbtu; the gap between the spot and future price sharply rose to -$0.03, i.e. backwardation. During September, natural gas spot price (Henry Hub) fell by 3.3%.
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):
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For further reading:
Monthly Analysis and Outlook: