Gold and silver prices continue their rally, but at a slower pace than in the beginning of the week; Crude oil prices keep on seeking direction and as have bounced back from their recent sharp downward trend at the beginning of August; natural gas spot price (Henry Hub) declined for the fourth straight business day.
Here is a summary of the price movements of precious metals and energy commodities for August 17th:
Precious Metals prices:
Gold price increased yesterday by 0.49% to $1,793; Silver price also inclined by 1.33% to $40.38.
During August, gold prices increased by 10%, and silver price inclined by only 0.7%.
The EURO/ USD slightly inclined yesterday by 0.12%, as the USD depreciated against the EURO. During August the EURO/USD slightly rose by 0.2% compared to its initial level at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price continues to seek direction as this energy commodity finished yesterday with a 1.07% increase to reach $87.58 per barrel; during August the WTI spot oil price declined by 8.5%. Brent spot price also slightly increased by 0.88% to $110.65 per barrel.
Due to these changes, the difference between Brent and WTI slightly inclined to $23.07/bbl.
Natural gas Henry Hub future price (September delivery) very moderately declined by 0.25% to $3.93/mmbtu. The Henry Hub spot price also declined by 1.49% to $3.97/mmbtu; the gap between the spot and future price inclined to -$0.04, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 6.8%.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
For further reading:
Monthly Analysis and Outlook: