Gold and silver prices bounced back yesterday and erased most of loses they have had at the beginning of the week. The US stock markets on the other hand fell. Crude oil prices followed and moderately declined as well. Natural gas spot price (Henry Hub) continued to make a comeback with light gains. Here is a summary of the price movements of precious metals and energy commodities for September 8th:
Precious Metals prices:
Gold price rose yesterday by 2.20% to $1,857; Silver price also increased by 2.16% to $42.53. During September, gold prices increased by 1.4%, and silver price by 1.8%.
The EURO to US Dollar exchange rate changed direction again and sharply fell yesterday by 1.53% to 1.3883 – i.e. the USD appreciated against the EURO. During September, the EURO to US Dollar declined by 3.38%. This drop is after the ECB decided to keep its interest rates unchanged at 1.5%.
Oil and Gas prices:
WTI Spot oil price fell by 0.32%; it settled at $89.05 per barrel; Brent spot price also decreased by 1.63% to $114.30 per barrel; during September the WTI spot oil price inclined by 0.3% and Brent oil fell by 0.8%.
Due to these changes, the difference between Brent and WTI slipped again to $25.25/bbl.
Natural gas Henry Hub future price (October delivery) rose by 1.02% to $3.98/mmbtu. The Henry Hub spot price slightly inclined again by 0.51% to $3.97/mmbtu; the gap between the spot and future price remained at $0.01, i.e. contango. During September, natural gas spot price (Henry Hub) fell by 0.7%.
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):
For further reading:
Monthly Analysis and Outlook:
- Gold and silver prices outlook for September 2011
- Oil prices Monthly outlook – September 2011
- Natural gas prices outlook for September 2011