Gold and silver prices sharply fell on the first day of the week after they had moderately inclined on Friday. Other commodities prices also declined yesterday: Crude oil was traded down, and natural gas spot prices continued to free-fall and sharply decreased yesterday. Many currencies including Australian dollar and Canadian dollar sharply depreciated against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for November 21st:
Precious Metals Prices:
Gold price sharply fell yesterday by 2.70% and reached $1,678.60; Silver price also declined by 4.01% to reach $31.19. During November, gold price fell by 2.7%, and silver price decreased by 9.22%.
The Euro to US Dollar exchange rate slightly fell by 0.26% to 1.3490 – i.e. the US Dollar appreciated against the Euro. The US Dollar also sharply appreciated against other currencies such as the Australian dollar.
Oil and Gas Prices:
WTI oil price declined again by 0.74% to $96.69 per barrel; Brent oil price also decreased by 1.35% to $106.45 per barrel;
Due these changes, the difference between Brent oil price and WTI oil prices slightly fell to $9.76/bbl. During November, WTI oil price inclined by 3.8%, while Brent oil price decreased by 2.80%.
Natural gas Henry Hub future price (December delivery) bounced back and rose by 2.41% to $3.40/mmbtu. The Henry Hub spot price on the other hand sharply fell by 2.32% to $2.95/mmbtu; the gap between the spot and future price sharply rose to $0.45, i.e. it is still in 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 21-25 November
- Gold and Silver Prices Weekly Outlook for November 21-25
- Crude Oil Prices – Weekly Outlook November 21-25
- Natural Gas Prices Outlook – November 21-25