Gold Silver and Oil Tumbled Down on Monday– Recap September 24th

Major commodities changed direction and tumbled down on the first day of the week: WTI oil and Brent oil started the week on a negative note as both oil prices fell; gold and silver also declined; natural gas Henry Hub future (October delivery) fell while spot price bounced back on Monday; the Euro depreciated against the USD on Monday. Many other currency pairs including the Aussie dollar/USD also traded down.

Here is a summary of the daily developments of precious metals and energy commodities for September 24th, 2012:

Forex and Bullion Markets:

On Monday, gold fell by 0.75% to $1,764; Silver also declined by 1.89% to reach $33.98. During the month, gold increased by 4.56%; silver, by 8.08%.

On Monday, the Euro/USD also decreased by 0.39% to 1.2931; further, the U.S Dollar also appreciated against several other currencies including Aussie dollar by 0.3%.

Energy Commodities:

WTI oil price also changed direction and declined yesterday by 1.06% to $91.63 per barrel;

Brent oil also decreased by 1.67% to $110.41 per barrel;

Following these falls, the difference between Brent and WTI slipped to $18.78/bbl. During the month, WTI fell by 5.02%; Brent oil, by 4.4%.

Finally, the Henry Hub future (October delivery) fell by 1.73% to $2.84/mmbtu; the Henry Hub spot rose to $2.82/mmbtu; the gap between the spot contracted to $0.02, i.e. contango.

A Summary for September 24th:

The table below includes: closing prices, daily percent changes, and daily changes:

Gold Silver Crude oil Natural gas 2012 September 24

For further reading: