Gold and Silver Recorded Big Gains Yesterday –Daily Recap October 25

The precious metals market heated up again as gold and silver prices sharply inclined for the third straight business days; WTI oil price sharply rose, while Brent oil slipped resulting in the gap between the two energy prices shrinking; natural gas prices inclined yesterday. Here is a summary of the price movements of precious metals and energy commodities for October 25th:

Precious Metals prices:

Gold price sharply increased by 2.91% and reached $1,700 – the highest price level since September 22nd; Silver price also rose by 4.45% to reach $33.05. During October, gold price inclined by 4.8% and silver price increased by 9.9%. 

The Euro to US Dollar exchange rate moderately declined yesterday by 0.16% to 1.3908 – i.e. the USD appreciated against the Euro. Furthermore, the USD appreciated against other currencies including the AUD and CAD.

Oil and Gas prices:

WTI oil price rose yesterday by 2.00% to $92.99 per barrel; Brent oil price on the other hand slipped by 0.12% to $112.01 per barrel;

Due these changes, the gap between Brent and WTI further shrunk to $19.02/bbl. During October, WTI oil price rose by 13.6%, and Brent oil price increased by 6.3%.

Natural gas Henry Hub future price (November delivery) increased by 1.39% to $3.66/mmbtu. The Henry Hub spot price also increased by 0.56% to $3.62/mmbtu; the gap between the spot and future price was $0.04, 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 25

For further reading:

 Monthly Analysis and Outlook: