Following thanksgiving the trading in the U.S. was renewed for black Friday in which gold and silver were traded down. Crude oil were traded with a mixed trend as Brent oil slightly declined and WTI oil price rose; natural gas future price (Henry Hub) sharply increased. Major currencies such as Euro and Australian dollar depreciated against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for November 25th:
Precious Metals Prices:
Gold price declined on Friday by 0.61% and reached $1,688.50; Silver price also fell by 2.73% to reach $31.09. During November, gold price fell by 2.1%, and silver price decreased by 9.5%.
The Euro sharply depreciated against the US dollar by 0.81% to 1.3239. The US Dollar also appreciated against other currencies such as the Australian dollar.
Oil and Gas Prices:
WTI oil price slightly rose by 0.94% to $96.77 per barrel; Brent oil price on the other hand declined by 0.43% to $106.77 per barrel;
Due these changes, the difference between Brent oil price and WTI oil prices slipped to $10.00/bbl. During November, WTI oil price inclined by 3.8%, while Brent oil price decreased by 2.5%.
Natural gas Henry Hub future price (December delivery) rose again by 2.31% to $3.54/mmbtu. The Henry Hub spot price didn’t change and remained at $2.83/mmbtu as it the spot wasn’t traded; the difference between the spot and future price sharply inclined again to $0.71, 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: