Gold Silver and Oil Prices Sharply Fell –Daily Recap September 28

Gold and silver prices shifted direction again and after they had inclined on Tuesday, they fell again on Wednesday, along with the rest of the financial markets including US stock market. Crude oil prices sharply declined as well; natural gas prices (Henry Hub) also finished yesterday falling. Here is a summary of the price movements of precious metals and energy commodities for September 28th:

Precious Metals prices:

Gold price changed direction again and sharply fell by 2.08% to $1,618; Silver price also decreased by 4.45% to $30.13. During September, gold prices decreased by 11.7% and silver price shed 27.9% of its value.

The EURO to US Dollar exchange rate slightly slipped yesterday by 0.31% to 1.3533 – i.e. the USD appreciated against the EURO. The USD sharply appreciated yesterday against other currencies including the AUD and CAD. During September, the EURO to US Dollar fell by 5.75%.

Oil and Gas prices:

WTI oil price also sharply declined yesterday by 3.53% to $81.21 per barrel; Brent oil price decreased by 3.96% to $105.20 per barrel; during September the WTI oil price declined by 8.6% and Brent oil price fell by 9.7%.

Due these changes, the difference between Brent and WTI slipped and reached $23.99/bbl.

Natural gas Henry Hub future price (October delivery) declined by 0.78% to $3.80/mmbtu. The Henry Hub spot price also fell by 1.02% to $3.88/mmbtu; the gap between the spot and future price slightly rose to -$0.08, i.e. backwardation. During September, natural gas spot price (Henry Hub) shed 2.3% of its price.

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 September 28


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