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DG365FD46564GFH654FU898 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 didn’t 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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