Gold Silver and Oil Rallied Yesterday –Recap November 22

Gold and silver prices bounced back from the sharp falls they have had on Monday. Other commodities prices also followed and inclined yesterday: Crude oil prices ended yesterday’s trading in the green; natural gas prices also changed direction and sharply inclined on Tuesday. Many currencies including Euro and Canadian dollar appreciated against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for November 22nd:

Precious Metals Prices:

Gold price rose yesterday by 1.42% and reached $1,702.40; Silver price also sharply inclined by 5.91% to reach $33.03. During November, gold price fell by 1.3%, and silver price decreased by 3.85%. 

The Euro to US Dollar exchange rate slightly rose by 0.11% to 1.3505 – i.e. the US Dollar depreciated against the Euro. The US Dollar also depreciated against other currencies such as the Canadian dollar.

Oil and Gas Prices:

WTI oil price also changed direction and inclined by 1.05% to $97.71 per barrel; Brent oil price also increased by 2.35% to $108.95 per barrel;

Due these changes, the difference between Brent oil price and WTI oil prices rose to $11.24/bbl. During November, WTI oil price inclined by 4.9%, while Brent oil price decreased by 0.5%.

Natural gas Henry Hub future price (December delivery) slightly rose by 0.59% to $3.42/mmbtu. The Henry Hub spot price sharply inclined by 3.39% to $3.05/mmbtu; the gap between the spot and future price sharply fell to $0.37, 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):

 Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 November 22

For further reading:

Weekly Analysis and Outlook: