Gold Silver and Oil Tumbled Down on Friday – Recap November 2nd

Many commodities were down on the final day of the week following the publication of the U.S non-farm payroll report and the recent crude oil and natural gas EIA weekly updates: WTI oil and Brent oil declined on Friday; the prices of silver and gold also fell for the second consecutive day; natural gas Henry Hub future (November delivery) also tumbled down on Friday; the Euro sharply depreciated against the USD on Friday. Some other currency pairs including the Aussie dollar also fell against the USD.

Here is a summary of the daily developments of precious metals and energy commodities for November 2nd, 2012:

Forex and Bullion Markets:

On Friday, gold declined by 2.35% to $1,675.2; Silver also fell by 4.31% to $30.86. During the week, gold decreased by 2.1%; silver, by 3.7%.

On Friday, the Euro/USD also declined by 0.86% to 1.2832; further, the U.S Dollar appreciated against several other currencies including Aussie dollar by 0.62%.

Energy Commodities:

WTI oil price also decreased yesterday by 2.3% to $84.86 per barrel; Brent oil also decreased by 2.3% to $105.68 per barrel;

Due to these changes, the difference between Brent and WTI contracted to $19.44/bbl. During the week, WTI declined by 4.6%; Brent oil, by 1.6%.

Finally, the Henry Hub future (November delivery) also fell by 3.92% to $3.55/mmbtu; the gap between the spot remained in contango.

A Summary for November 2nd:

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

Gold Silver Crude oil Natural gas 2012 November 2

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