Gold and silver prices closed the week with very dramatic falls; the recent
announcement by CME of a raise in margins requirements for gold and silver
trading didnt help precious metals traders. Gold and silver prices suffered the
sharpest single day drop since 1983 (according to Bloomberg). Crude oil prices
slightly declined yesterday; natural gas prices (Henry Hub) had a mixed trend.
Here is a summary of the price movements of precious metals and energy
commodities for September 23rd: Precious Metals prices: Gold price sharply
plummeted yesterday by 5.85% to $1,639; it fell back to its price level from
August 1st; Silver price also plummeted by 17.71% to $30.10 – the lowest price
level since February 11th, 2011. During September, gold prices decreased by
10.5% and silver price lost 27.9% of its value. The EURO to US Dollar exchange
rate bounced back yesterday and slightly inclined by 0.27% to 1.3501 i.e. the
USD depreciated against the EURO. The USD also depreciated yesterday against
other currencies including the AUD and CAD. During September, the EURO to US
Dollar declined by 6.04%. Oil and Gas prices: WTI spot oil price slightly
declined yesterday by 0.85% to $79.58 per barrel; Brent oil
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