Major commodities started December with light changes; after the sharp gains most commodities had on November 30th, they had shifted mainly to red: Gold and silver prices slightly slipped. Crude oil prices also slightly declined. Natural gas spot price (Henry Hub) started the month falling as well. Major currencies such as Euro slightly appreciated against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for December 1st:
Precious Metals Prices:
Gold price slightly declined on Thursday by 0.60% and reached $1,739.80; Silver price also slipped by 0.14% to reach $32.76. During the week, gold price rose by 1.5%, and silver price increased by 1.5%.
The Euro appreciated against the US dollar by 0.12% to 1.3462. The US Dollar on the other hand depreciated against currencies such as the Australian dollar and Canadian dollar.
Oil and Gas Prices:
WTI oil price changed direction and slightly declined yesterday by 0.16% to $100.20 per barrel; Brent oil price also fell by 1.77% to $109.35 per barrel;
Due these changes, the difference between Brent oil price and WTI oil prices slightly fell to $9.15/bbl. During the week, WTI oil price inclined by 2.0%, while Brent oil price remained unchanged.
Natural gas Henry Hub future price (January delivery) inclined by 2.82% to $3.65/mmbtu. The Henry Hub spot price fell by 1.63% to $3.49/mmbtu; the difference between the spot and future price rose to $0.16, 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:
Weekly Analysis and Outlook: