Gold and Silver Prices Ended the Week Falling –Recap November 4

Following the positive news from the U.S. of the employment expanding by 80k in October there was a light recitation to this news by the financial markets as all eyes were set towards Greece canceling the Referendum. Yesterday major commodities prices traded with mixed trends: gold and silver prices ended the week with moderate falls; crude oil prices on the other hand slightly inclined. Natural gas (future) prices also slightly rose. Here is a summary of the price movements of precious metals and energy commodities for November 4th:

Precious Metals prices:

Gold price declined yesterday by 0.51% and reached $1,756.10; Silver price also decreased by 1.20% to reach $34.08. During November, gold price rose by 1.8% but silver price decreased by 0.8%. 

The Euro to US Dollar exchange rate slightly slipped to 1.3792 – i.e. the USD appreciated against the Euro. Furthermore, the USD sharply appreciated the Canadian dollar following the disappointing Canadian labor report.

Oil and Gas prices:

WTI oil price slightly rose by 0.20% to $94.26 per barrel; Brent oil price also inclined by 1.38% to $112.55 per barrel;

Due these changes, the gap between Brent and WTI increased to $18.29/bbl. During November, WTI oil price rose by 1.1%, and Brent oil price increased by 2.8%.

Natural gas Henry Hub future price (December delivery) increased by 0.27% to $3.78/mmbtu. The Henry Hub spot price rose by 2.65% to $3.49/mmbtu; the gap between the spot and future price fell to $0.29, 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 4

For further reading: