Gold and Silver Prices Continued to Freefall –Daily Recap October 20

Gold and silver prices continued their descent and sharply declined yesterday; this was the fourth straight day in which gold price declined; crude oil prices traded yesterday with mixed trend as WTI oil price fell and Brent oil slightly rose; natural gas prices changed direction and moderately inclined. Here is a summary of the price movements of precious metals and energy commodities for October 20th:

Precious Metals prices:

Gold price sharply decreased by 2.07% and reached $1,612; Silver price also fell by 3.18% to reach $30.28. During October, gold price declined by 0.6% and silver price increased by 0.7%. 

The Euro to US Dollar exchange rate slightly rose yesterday by 0.14% to 1.378 – i.e. the USD depreciated against the Euro. Furthermore, the USD appreciated yesterday against other currencies including the CAD and AUD.

Oil and Gas prices:

WTI oil price decreased yesterday by 0.94% to $85.30 per barrel; Brent oil price on the other hand inclined by 1.11% to $110.87 per barrel;

Due these changes, the difference between Brent and WTI rose to $25.57/bbl. During October, WTI oil price rose by 4.2%, and Brent oil price increased by 5.2%.

Natural gas Henry Hub future price (November delivery) inclined by 1.11% to $3.63/mmbtu. The Henry Hub spot price also increased by 0.28% to $3.60/mmbtu; the gap between the spot and future price was $0.03, 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 20

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 Monthly Analysis and Outlook: