Major commodities trade up on Thursday: WTI oil and Brent oil rallied yesterday; this rally came after the WTI oil price had declined in the previous three days; gold and silver also bounced back and rose on Thursday; natural gas Henry Hub future (October delivery) and spot price hiked again on Thursday; the Euro changed direction and appreciated against the USD on Thursday. Many other currency pairs including the Aussie dollar/USD also rallied.
Here is a summary of the daily developments of precious metals and energy commodities for September 27th, 2012:
Forex and Bullion Markets:
On Thursday, gold rose by 1.53% to $1,780.5; Silver also rose by 2.14% to reach $34.67. During the month, gold increased by 5.5%; silver, by 10.25%.
On Thursday, the Euro/USD also increased by 0.32% to 1.2914; further, the U.S Dollar also depreciated against several other currencies including Aussie dollar by 0.68%.
WTI oil price increased yesterday by 2.08 % to $91.85 per barrel;
Brent oil also rose by 2.25% to $113.36 per barrel;
Following these changes, the difference between Brent and WTI rose to $21. 51/bbl. During the month, WTI declined by 4.79%; Brent oil, by 1.8%.
Finally, the Henry Hub future (October delivery) rose again by 2.8% to $3.3/mmbtu; the Henry Hub spot also hiked to $3.02/mmbtu; the gap between the spot remained at $0.28, i.e. contango.
A Summary for September 27th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: