Major commodities prices were traded down again on the third day of the week: WTI and Brent oil declined yesterday; the prices of silver and gold also fell on Wednesday; natural gas Henry Hub future (November delivery) changed direction again and tumbled down on Wednesday; the Euro slightly depreciated against the USD on Wednesday. Several other currency pairs including the Aussie dollar rose against the USD.
Here is a summary of the daily developments of precious metals and energy commodities for October 24th, 2012:
Forex and Bullion Markets:
On Wednesday, gold declined by 0.46% to $1,701.6; Silver also decreased by 0.46% to $31.62. During the month, gold decreased by 4.08%; silver, by 8.55%.
On Wednesday, the Euro/USD declined by 0.09% to 1.2974; alternatively, the U.S Dollar depreciated against some other currencies including Aussie dollar by 0.87%.
WTI oil price decreased again yesterday by 1.15% to $85.33 per barrel; Brent oil also declined by 0.41% to $108.64 per barrel;
Due to these changes, the difference between Brent and WTI rose to $23.31/bbl. During the month, WTI fell by 7.44%; Brent oil, by 4.1%.
Finally, the Henry Hub future (November delivery) fell by 2.54% to $3.45/mmbtu; the Henry Hub spot increased to $3.44/mmbtu; the gap between the spot reached to $0.01, i.e. contango.
A Summary for October 24th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: