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):
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