Gold and Silver Prices Continued to Decline –Recap November 10

With all the news items pouring in from Europe regarding the political changes in Greece and Italy, the financial markets were unstable and shifted directions throughout the day; by the end of the business day: gold and silver prices decline, while crude oil prices bounced back and sharply increased. Natural gas prices shifted direction and moderately fell. Here is a summary of the price movements of precious metals and energy commodities for November 10th:

Precious Metals Prices:

Gold price decreased yesterday by 1.79% and reached $1,759.60; Silver price also declined by 0.74% to reach $34.11. During November, gold price rose by 2.0% while silver price decreased by 0.72%. 

The Euro to US Dollar exchange rate slightly inclined to 1.3606 – i.e. the USD depreciated against the Euro. Furthermore, the USD depreciated against the Canadian dollar and Australian dollar.

Oil and Gas Prices:

WTI oil price bounced back and rose by 2.13% to $97.78 per barrel; Brent oil price also inclined by 0.45% to $112.73 per barrel;

Due these changes, the gap between Brent and WTI sharply declined to $14.95/bbl. During November, WTI oil price rose by 4.9%, and Brent oil price increased by 2.9%.

Natural gas Henry Hub future price (December delivery) moderately decreased by 0.11% to $3.65/mmbtu. The Henry Hub spot price also fell by 1.69% to $3.48/mmbtu; the gap between the spot and future price sharply inclined to $0.17, 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 10

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