Gold and silver prices changed direction and after sharply declining throughout the week they have bounced back and closed the week rising; crude oil prices continued to trade with mixed trend as WTI oil price inclined and Brent oil slipped; natural gas prices changed also direction and sharply declined. Here is a summary of the price movements of precious metals and energy commodities for October 21st:
Precious Metals prices:
Gold price sharply increased by 1.44% and reached $1,636; Silver price also rose by 3.01% to reach $31.19. During October, gold price inclined by 0.9% and silver price increased by 3.7%.
The Euro to US Dollar exchange rate sharply rose yesterday by 0.84% to 1.3896 – i.e. the USD depreciated against the Euro. Furthermore, the USD depreciated against other currencies including the CHF, CAD and AUD.
Oil and Gas prices:
WTI oil price sharply increased yesterday by 2.25% to $87.22 per barrel; Brent oil price on the other hand slightly declined by 0.08% to $110.78 per barrel;
Due these changes, the gap between Brent and WTI shrunk to $23.56/bbl. During October, WTI oil price rose by 6.5%, and Brent oil price increased by 5.1%.
Natural gas Henry Hub future price (November delivery) remained unchanged at $3.63/mmbtu. The Henry Hub spot price on the other hand decreased by 1.39% to $3.55/mmbtu; the gap between the spot and future price was $0.08, 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: