Gold and Silver Bounced Back on Friday –Recap November 18

Gold and silver prices bounced back on Friday after they had sharply declined a day earlier; Brent oil price also followed and slightly rose, while WTI oil price continued to decline; natural gas prices also kept their downward trend yesterday. Many currencies including Euro and Canadian dollar also rallied and slightly appreciated against the US dollar. Here is a summary of the price movements of precious metals and energy commodities for November 18th:

Precious Metals Prices:

Gold price slightly rose yesterday by 0.28% and reached $1,725.10; Silver price also rallied by 2.91% to reach $32.49. During November, gold price didn’t change, and silver price decreased by 5.43%. 

The Euro to US Dollar exchange rate slightly rose by 0.50% to 1.3525 – i.e. the US Dollar depreciated against the Euro. The US Dollar also depreciated against other currencies such as the Canadian dollar.

Oil and Gas Prices:

WTI oil price decreased again by 1.43% to $97.41 per barrel; Brent oil price on the other hand slightly inclined by 0.05% to $107.91 per barrel;

Due these changes, the difference between Brent oil price and WTI oil prices rose again to $10.50/bbl. During November, WTI oil price inclined by 4.5%, while Brent oil price decreased by 1.5%.

Natural gas Henry Hub future price (December delivery) sharply decreased by 2.64% to $3.32/mmbtu. The Henry Hub spot price also sharply fell by 3.21 to $3.02/mmbtu; the gap between the spot and future price slightly rose to $0.30, 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):

 Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 November 18

For further reading:

Monthly Analysis and Outlook: