Many major commodities prices continued to decline yesterday following the sharp falls they had experienced on Wednesday: Gold price moderately declined while silver price slightly rose; crude oil prices decreased again; natural gas spot prices (Henry Hub) also declined. Major currencies such as the Euro slightly appreciated against the US dollar. Here is a summary of the price developments of precious metals and energy commodities for December 15th:
Precious Metals Prices:
Gold price declined on Thursday by 0.61% and reached $1,577.20; Silver price on the other hand increased by 1.17% to reach $29.27. During December, gold price declined by 9.9%, and silver price by 10.76%.
The Euro changed direction and appreciated against the US dollar by 0.26% to 1.3016. The US Dollar also depreciated against currencies such as the Australian dollar.
Oil and Gas Prices:
WTI oil price declined yesterday by 1.14% to $93.87 per barrel; Brent oil price also declined by 0.13% to $103.84 per barrel;
Due these changes, the difference between Brent oil price and WTI oil prices rose to $9.97/bbl. During the month, WTI oil price declined by 6.5%, and Brent oil price by 6.7%.
Natural gas Henry Hub future price (January delivery) remained unchanged at $3.13/mmbtu. The Henry Hub spot price declined by 0.97% to $3.05/mmbtu; the difference between the spot and future price rose to $0.08, i.e. Contango.
A Summary of Yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes in USD (except for USD/CAD, in which the change is in Canadian dollar):
For further reading:
Weekly Analysis and Outlook: