The Presidential elections are over with President Obama was voted into a second term in office. The recent elections may have contributed to the sharp gains in commodities prices. Many commodities were traded sharply up again on the second day of the week: WTI oil and Brent oil hiked on Tuesday; the prices of silver and gold also sharply rose for the second consecutive business day; natural gas Henry Hub future (November delivery) also rallied on Tuesday; the Euro slightly appreciated against the USD on Tuesday. Some other currency pairs including the Aussie dollar also rose against the USD.
Here is a summary of the daily developments of precious metals and energy commodities for November 6th, 2012:
Forex and Bullion Markets:
On Tuesday, gold increased by 1.89% to $1,715.0; Silver also increased by 2.89% to $32.03. During November, gold edged down by 0.24%; silver, by 0.89%.
On Tuesday, the Euro/USD also rose by 0.16% to 1.2815; further, the U.S Dollar depreciated against some other currencies including Aussie dollar by 0.67%.
WTI oil price also hiked yesterday by 3.04% to $88.71 per barrel; Brent oil also rose by 3.57% to $111.07 per barrel;
Due to these shifts, the gap between Brent and WTI expanded to $24.83/bbl. During the month, WTI increased by 2.2%; Brent oil, by 2.9%.
Finally, the Henry Hub future (December delivery) also increased by 1.97% to reach $3.62/mmbtu.
A Summary for November 6th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: