Gold and silver prices continue to zigzag and after they had inclined on Tuesday, yesterday they changed direction and moderately declined; Crude oil prices on the other hand continued to rally; natural gas (Henry Hub) spot price also changed direction and decreased yesterday. Major currencies were traded at mixed trend with the Euro falling against the US dollar, while the Australian dollar and Canadian dollar slightly rising against the U.S dollar. Here is a summary of the price developments of precious metals and energy commodities for December 21st:
Precious Metals Prices:
Gold price slightly decreased on Wednesday by 0.25% and reached $1,613.60; Silver price also decreased by 0.97% to reach $29.25. During December, gold price declined by 7.8%, and silver price by 10.84%.
The Euro changed direction and depreciated again against the U.S dollar by 0.28% to 1.3047. The U.S Dollar on the other hand appreciated against other currencies such as the Australian dollar.
Oil and Gas Prices:
WTI oil price inclined yesterday by 1.34% to $98.52 per barrel; Brent oil price also inclined by 1.22% to $108.94 per barrel;
Due to these changes, the gap between Brent oil price and WTI oil prices reached $10.42/bbl. During the month, WTI oil price declined by 1.8%, and Brent oil price by 2.1%.
Natural gas Henry Hub future price (January delivery) rose yesterday by 1.28% to $3.16/mmbtu. The Henry Hub spot price on the other hand decreased by 1.30% to $3.03/mmbtu; the difference between the spot and future price inclined to $0.13, 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: