Major commodities took a plunge yesterday after they had demonstrated a mixed trend in recent days: Gold and silver prices slightly declined; crude oil prices sharply decreased after they had inclined a day earlier; natural gas prices slipped as well. Here is a summary of the price movements of precious metals and energy commodities for October 19th:
Precious Metals prices:
Gold price slightly decreased by 0.35% and reached $1,647; Silver price also fell by 1.74% to reach $31.28. During October, gold price inclined by 1.5% and silver price increased by 4.0%.
The US Dollar to CAD exchange rate rose yesterday by 0.63% to 1.0205 – i.e. the USD appreciated against the CAD. Furthermore, the USD appreciated yesterday against other currencies including the AUD.
Oil and Gas prices:
WTI oil price changed direction again and decreased yesterday by 2.52% to $86.11 per barrel; Brent oil price sharply declined as well by 2.69% to $109.65 per barrel;
Due these changes, the difference between Brent and WTI declined to $23.54/bbl. During October, WTI oil price rose by 5.2%, and Brent oil price increased by 4.0%.
Natural gas Henry Hub future price (November delivery) inclined by 1.13% to $3.59/mmbtu. The Henry Hub spot price on the other hand decreased by 1.10% to $3.59/mmbtu; the gap between the spot and future price was nullified.
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 19
- Oil Prices – Daily Outlook October 19
- Weekly Outlook for October 17-21
Monthly Analysis and Outlook: