The major energy commodities prices changed direction and rose on the fourth day of the week: WTI oil and Brent oil hiked yesterday; gold and silver increased again on Thursday; natural gas Henry Hub future (November delivery) also recovered and increased on Thursday; the Euro sharply appreciated against the USD on Thursday. Many other currency pairs including the Aussie dollar also rose the USD.
Here is a summary of the daily developments of precious metals and energy commodities for October 4th, 2012:
Forex and Bullion Markets:
On Thursday, gold increased by 0.94% to $1,796.5; Silver also rose by 1.18% to reach $35.1. During the month, gold increased by 1.3%; silver, by 1.5%.
On Thursday, the Euro/USD also increased by 0.87% to 1.3017; further, the U.S Dollar depreciated against several other currencies including Aussie dollar by 0.24%.
WTI oil price bounced back yesterday by 4.05 % to $91.71 per barrel;
Brent oil also increased by 3.86% to $112.19 per barrel;
Following these shifts, the difference between Brent and WTI rose to $20.48/bbl. During the month, WTI declined by 0.52%; Brent oil, by 0.9%.
Finally, the Henry Hub future (November delivery) rose by 0.29% to $3.41/mmbtu; the Henry Hub spot also increase to $3.25/mmbtu; the gap between the spot reached to $0.16, i.e. contango.
A Summary for October 4th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading:
- Gold And Silver | Outlook October 1-5
- Financial Markets Outlook for October 1-5
- Gold and Silver Outlook for October
- Crude Oil Prices – Weekly Outlook October 1-5