Gold and Silver Ended the week Rising –Daily Recap October 21

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):

 Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 October 21

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