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):
For further reading:
- Gold & Silver Prices – Daily Outlook October 20
- Oil Prices – Daily Outlook October 19
- Weekly Outlook for October 17-21
Monthly Analysis and Outlook: