After the sharp gains recorded on Thursday to major commodities, Friday ended with a slower trading day as major commodities prices slightly changed: crude oil prices slipped; gold price slightly declined while silver price rose again. On the other hand natural gas prices recorded very sharp rises especially to natural gas price (future price). Here is a summary of the price movements of precious metals and energy commodities for October 28th:
Precious Metals prices:
Gold price nearly didn’t change yesterday and slipped by 0.03% and reached $1,747.2; Silver price on the other hand slightly rose by 0.50% to reach $35.29. During October, gold price rose by 7.7% and silver price increased by 17.3%.
The Euro to US Dollar exchange rate changed direction and slipped yesterday to 1.4147 – i.e. the USD appreciated against the Euro. Furthermore, the USD appreciated against other currencies such as CAD and AUD.
Oil and Gas prices:
WTI oil price continue to zigzag and yesterday fell by 0.68% to $93.32 per barrel; Brent oil price also declined by 2.13% to $110.83 per barrel;
Due these changes, the gap between Brent and WTI shrunk to $17.51/bbl. During October, WTI oil price rose by 14.0%, and Brent oil price increased by 5.1%.
Natural gas Henry Hub future price (November delivery) sharply increased by 4.26% to $3.92/mmbtu. The Henry Hub spot price slightly increased by 1.11% to $3.63/mmbtu; the gap between the spot and future price sharply rose to $0.29, 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):
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