Major commodities prices changed direction and started the week with moderate falls; many currencies including Euro, CAD and AUD depreciated against the US dollar; gold and silver prices moderately declined; crude oil prices also changed direction and slipped; natural gas prices continue their free fall and sharply declined again. Here is a summary of the price movements of precious metals and energy commodities for November 14th:
Precious Metals Prices:
Gold price moderately declined yesterday by 0.54% and reached $1,778.40; Silver price also declined by 1.90% to reach $34.02. During November, gold price rose by 3.1%, while silver price moderately decreased by 0.96%.
The Euro to US Dollar exchange rate declined to 1.3634 – i.e. the USD appreciated against the Euro. Furthermore, the USD appreciated against the Australian dollar and Canadian dollar.
Oil and Gas Prices:
WTI oil price fell by 0.86% to $98.14 per barrel; Brent oil price also declined by 1.41% to $112.16 per barrel;
Due these changes, the gap between Brent and WTI slipped to $14.02/bbl. During November, WTI oil price rose by 5.3%, and Brent oil price increased by 2.4%.
Natural gas Henry Hub future price (December delivery) sharply decreased by 3.35% to $3.46/mmbtu. The Henry Hub spot price also sharply fell by 4.27% to $3.14/mmbtu; the gap between the spot and future price slightly inclined to $0.32, 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:
- Weekly Outlook for 14-18 November
- Gold and Silver Prices Weekly Outlook for November 14-18
- Crude Oil Prices – Weekly Outlook November 14-18
- Natural Gas Prices Outlook – November 14-18
Monthly Analysis and Outlook: