Gold and silver prices ended August on a positive note as they have both moderately inclined; on the other hand, crude oil prices changed direction again and ended the month with moderate falls; natural gas spot price (Henry Hub) also changed direction and bounced back yesterday with very sharp rises. Here is a summary of the price movements of precious metals and energy commodities for August 31st:
Precious Metals prices:
Gold price slightly inclined yesterday by 0.1% to $1,831; Silver price also rose by 0.73% to $41.77. During August, gold prices increased by 12.3%, and silver price by only 4.1%.
The EURO to US Dollar exchange rate decreased by 0.51% – i.e. the USD appreciated against the EURO. During August, the EURO to US Dollar slightly slipped by 0.13%.
Oil and Gas prices:
WTI Spot oil price moderately declined by 0.1%; it settled at $88.81 per barrel; Brent spot price also fell by 0.32% to $115.22 per barrel; during August the WTI spot oil price declined by 7.2% and Brent oil by only 1.4%.
Due to these changes, the difference between Brent and WTI inclined to $26.41/bbl.
Natural gas Henry Hub future price (September delivery) sharply inclined by 3.58% to $4.05/mmbtu. The Henry Hub spot price also inclined by 3.63% to $4.00/mmbtu; the gap between the spot and future price remained at $0.05, i.e. contango. 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 prices and indexes in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
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