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):
For further reading:
- Gold & Silver Prices – Daily Outlook October 25
- Oil Prices – Daily Outlook October 25
- Weekly Outlook for October 24-28
Monthly Analysis and Outlook: