Gold and silver prices slightly declined for the second straight day; WTI oil price continued to rally, while Brent oil price moderately declined; natural gas (Henry Hub) spot price changed direction and rose yesterday. Major currencies were traded slightly up against the US dollar including the Euro and the Australian dollar. Here is a summary of the price developments of precious metals and energy commodities for December 22nd:
Precious Metals Prices:
Gold price slightly slipped on Thursday by 0.19% and reached $1,610.60; Silver price also decreased by 0.69% to reach $29.05. During December, gold price declined by 8%, and silver price by 11.45%.
The Euro changed direction and moderately appreciated again against the U.S dollar by 0.03% to 1.3051. The U.S Dollar also appreciated against other currencies such as the Canadian dollar.
Oil and Gas Prices:
WTI oil price rose yesterday by 0.97% to $99.48 per barrel; Brent oil price on the other hand declined by 0.07% to $108.86 per barrel;
Due to these changes, the gap between Brent oil price and WTI oil prices sharply fell to $9.38/bbl. During the month, WTI oil price declined by 0.9%, and Brent oil price by 2.2%.
Natural gas Henry Hub future price (January delivery) rose yesterday by 0.32% to $3.17/mmbtu. The Henry Hub spot price also increased by 1.65% to $3.08/mmbtu; the difference between the spot and future price declined to $0.09, 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: