The financial markets continued to rally following the news from Europe including: the ECB cutting the rate by 0.25 percent points to 1.25% and the chance of Greece canceling the Referendum. Yesterday major commodities prices rallied: gold and silver prices finished trading in the green; crude oil prices also inclined. Natural gas (future) prices also slightly rose. Here is a summary of the price movements of precious metals and energy commodities for November 3rd:
Precious Metals prices:
Gold price sharply inclined yesterday by 2.05% and reached $1,765.10; Silver price also increased by 1.64% to reach $34.50. During the week, gold price rose by 1.0% but silver price decreased by 2.2%.
The Euro to US Dollar exchange rate slightly rose to 1.3823 – i.e. the USD depreciated against the Euro. Furthermore, the USD depreciated against other currencies including CAD and AUD.
Oil and Gas prices:
WTI oil price rose by 1.69% to $94.07 per barrel; Brent oil price also inclined by 1.36% to $111.02 per barrel;
Due these changes, the gap between Brent and WTI slightly fell to $16.95/bbl. During the week, WTI oil price rose by 0.8%, and Brent oil price increased by 0.2%.
Natural gas Henry Hub future price (December delivery) increased by 1.07% to $3.78/mmbtu. The Henry Hub spot price remained unchanged at $3.40/mmbtu; the gap between the spot and future price rose to $0.38, 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:
- Gold & Silver Prices – Daily Outlook November 3
- Oil Prices – Daily Outlook October 31
- Weekly Outlook for October 31 – November 4
Previous Reports:
[...] about Italy are well expressed in long term but also in short term yields, which are skyrocketing.Lior Cohen analyzes the recent rises in gold and silver.Kathy Lien compares the situation in the euro-zone [...]