Gold Silver and Oil Started the week Rising –Daily Recap October 24

Major commodities sharply rose on the first day of the week: Gold and silver prices inclined for the second straight business days; crude oil prices sharply inclined – the sharpest gain in a single day since October 5th; natural gas prices also finished the trading day rising. Here is a summary of the price movements of precious metals and energy commodities for October 24th:

Precious Metals prices:

Gold price increased by 0.99% and reached $1,652; Silver price also rose by 1.45% to reach $31.64. During October, gold price inclined by 1.8% and silver price increased by 5.2%. 

The Euro to US Dollar exchange rate slightly rose yesterday by 0. 24% to 1.393 – i.e. the USD depreciated against the Euro. Furthermore, the USD depreciated against other currencies including the AUD and CAD.

Oil and Gas prices:

WTI oil price sharply inclined yesterday by 4.53% to $91.17 per barrel; Brent oil price also rose by 1.24% to $112.15 per barrel;

Due these changes, the gap between Brent and WTI shrunk to $20.98/bbl. During October, WTI oil price rose by 11.4%, and Brent oil price increased by 6.4%.

Natural gas Henry Hub future price (November delivery) slipped by 0.55% to $3.61/mmbtu. The Henry Hub spot price on the other hand increased by 1.41% to $3.60/mmbtu; the gap between the spot and future price was $0.01, 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 24

For further reading:

 Monthly Analysis and Outlook: