Gold Price Slightly Slipped | Oil Prices Declined – September 21

Major commodities changed direction again and yesterday most of the commodities prices declined. The major announcement came yesterday as the FOMC decided to purchase additional long term securities at $400 billion by the end of June 2012.  Gold price slightly declined, while silver price inclined; crude oil prices changed direction and dropped as well; natural gas spot price (Henry Hub) also declined yesterday. Here is a summary of the price movements of precious metals and energy commodities for September 21st:

Precious Metals prices:

Gold price slightly decreased yesterday by 0.06% to $1,808; Silver price on the other hand fell by 1.52% to $40.47. During September, gold prices decreased by 1.3% and silver price lost 3.1% of its value.

The EURO to US Dollar exchange rate also slightly fell yesterday by 0.94% to 1.3573 – i.e. the USD appreciated against the EURO. During September, the EURO to US Dollar declined by 5.54%.

Oil and Gas prices:

WTI spot oil price declined yesterday by 1.15% to $85.75 per barrel; Brent oil price slightly decreased by 0.89% to $111.05 per barrel; during September the WTI spot oil price declined by 3.4% and Brent oil price fell by 4.7%.

Due to these changes, the difference between Brent and WTI nearly didn’t change and settled at $25.30/bbl.

Natural gas Henry Hub future price (October delivery) declined by 1.84% to $3.73/mmbtu. The Henry Hub spot price also declined by 1.04% to $3.79/mmbtu; the gap between the spot and future price slipped to -$0.06, i.e. backwardation. During September, natural gas spot price (Henry Hub) fell by 4.5%.

A summary of yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in prices and indexes in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Gold price and Silver prices Crude oil prices, Natural gas spot price 2011 September 21


 For further reading:

 Monthly Analysis and Outlook: