Gold and Silver Prices Changed Direction and Inclined –September 27

Gold and silver prices changed direction and made a comeback from the last few days’ sharp declines. It seems that the corrections related to the CME margin hike on gold and silver contracts was completed; crude oil prices continued to rise and also sharply inclined yesterday; natural gas prices (Henry Hub) also finished yesterday rising. Here is a summary of the price movements of precious metals and energy commodities for September 27th:

Precious Metals prices:

Gold price bounced back from the last few days’ falls and finished yesterday with a 3.62% to $1,652; Silver price also increased by 5.20% to $31.54. During September, gold prices decreased by 9.8% and silver price shed 24.5% of its value.

The EURO to US Dollar exchange rate inclined yesterday by 0.24% to 1.3533 – i.e. the USD depreciated against the EURO. The USD also depreciated yesterday against other currencies including the AUD and CAD. During September, the EURO to US Dollar fell by 5.82%.

Oil and Gas prices:

WTI oil price made a comeback and sharply inclined yesterday by 5.25% to $84.45 per barrel; Brent oil price also increased by 1.58% to $108.95 per barrel; during September the WTI oil price declined by 4.9% and Brent oil price fell by 6.5%.

Due these changes, the difference between Brent and WTI sharply fell and reached $24.50/bbl.

Natural gas Henry Hub future price (October delivery) inclined by 1.32% to $3.83/mmbtu. The Henry Hub spot price also sharply rose by 3.43% to $3.92/mmbtu; the gap between the spot and future price sharply fell to -$0.09, i.e. backwardation. During September, natural gas spot price (Henry Hub) shed 1.3% 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 27


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