Crude oil prices recovered from the sharp decline they had experienced on Wednesday and slightly rose yesterday. Gold price continued to decline while silver price moderately rose. Major currencies such as Euro and AUD changed direction and slightly appreciated against the U.S dollar, while the GBP depreciated against the U.S. dollar. Here is a summary of the price developments of precious metals and energy commodities for December 29th:
Precious Metals Prices:
Gold price declined on Thursday by 1.48% and reached $1,540.90; Silver price on the other hand slightly increased by 0.30% to reach $27.32. During December, gold price declined by 12%, and silver price by 16.73%.
The Euro changed direction again and slightly appreciated against the U.S dollar by 0.15% to 1.2961. The U.S Dollar also appreciated against other currencies such as the Canadian dollar.
Oil and Gas Prices:
WTI oil price changed direction as well and slightly rose yesterday by 0.29% to $99.65 per barrel; Brent oil price also increased by 0.06% to $108.33 per barrel;
Due to these changes, the gap between Brent oil price and WTI oil prices slightly fell to $8.68/bbl. During the month, WTI oil price declined by 0.7%, and Brent oil price by 2.7%.
Natural gas Henry Hub future price (January delivery) sharply fell by 3.19% to $3.03/mmbtu. The Henry Hub spot price also decreased by 3.25% to $2.98 /mmbtu; the difference between the spot and future price slightly inclined to $0.5, 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:
Weekly Analysis and Outlook: