Precious metals start week with gains as crude oil prices decline

Precious metals start week with gains as crude oil prices decline

ISTANBUL
Precious metals start week with gains as crude oil prices decline

Precious metal prices opened the week with gains on Nov. 9, while global crude oil benchmarks extended their downward trend.

Spot gold rose 1.16 percent to $4,117.79 per ounce, bringing its weekly gain to 4.3 percent, according to early market data on Nov. 9.

Silver climbed 1.62 percent to $52.72 per ounce, marking a 4.14 percent advance over the past week.

In energy markets, international benchmark Brent crude fell 1.5 percent to $96.84 per barrel, widening its weekly loss to 7.43 percent.

West Texas Intermediate (WTI) crude oil slipped 0.98 percent to $89.94 per barrel, down 6.59 percent on a weekly basis.

Heating oil edged down 0.10 percent to $4.33 per gallon, while gasoline declined 0.57 percent to $2.76 per gallon.

Meanwhile, European natural gas rose 1.03 percent to 86.48 euros ($96.5) per megawatt-hour, though prices remained 8.86 percent lower for the week.