Gold and Silver Bounced Back with Light Gains –Recap November 15

Major commodities prices rallied yesterday after they had declined on Monday: gold and silver prices moderately inclined; crude oil prices also changed direction and rose; natural gas prices on the other hand continue to decline. Many currencies including Euro, CAD and AUD continued to depreciate against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for November 15th:

Precious Metals Prices:

Gold price moderately rose yesterday by 0.21% and reached $1,782.20; Silver price also slightly inclined by 1.27% to reach $34.46. During November, gold price rose by 3.3%, while silver price moderately increased by 0.30%. 

The Euro to US Dollar exchange rate declined again by 0.69% to 1.354 – i.e. the USD appreciated against the Euro. Furthermore, the US Dollar appreciated against the Australian dollar and Canadian dollar.

Oil and Gas Prices:

WTI oil price also rallied and added 1.25% to its value and reached $99.37 per barrel; Brent oil price also inclined by 0.37% to $112.57 per barrel;

Due these changes, the difference between Brent oil and WTI oil prices fell again to $13.20/bbl. During November, WTI oil price rose by 6.6%, and Brent oil price increased by 2.8%.

Natural gas Henry Hub future price (December delivery) decreased by 1.73% to $3.40/mmbtu. The Henry Hub spot price also moderately declined by 0.32% to $3.13/mmbtu; the gap between the spot and future price fell to $0.27, 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 November 15

For further reading:

Weekly Analysis and Outlook: