Gold Started October Rising| Oil Keeps Falling–Daily Recap October 3

Gold and silver prices started the first week of October rising after they didn’t perform well in September (and that was an understatement); crude oil prices, on the other hand, sharply declined on the first business day of October; natural gas prices also continued their downward trend of September and fell yesterday. Here is a summary of the price movements of precious metals and energy commodities for October 3rd:

Precious Metals prices:

Gold price sharply inclined yesterday by 2.18% to $1,657; Silver price, also increased by 2.37% to $30.80.

The EURO to US Dollar exchange rate sharply declined yesterday by 1.58% to 1.3176- i.e. the USD sharply appreciated against the EURO. The USD also appreciated yesterday against other currencies including the AUD and CAD.

Oil and Gas prices:

WTI oil price sharply fell yesterday by 2.01% to $77.61 per barrel; Brent oil price decreased by 3.06% to $101.07 per barrel;

Due these changes, the difference between Brent and WTI decreased to $23.46/bbl.

Natural gas Henry Hub future price (November delivery) declined by 1.36% to $3.62/mmbtu. The Henry Hub spot price also declined by 2.72% to $3.57/mmbtu; the gap between the spot and future price rose to $0.05/mmbtu, i.e. contango.

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):

Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 October 3


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