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 Replies: 34 / Views: 4,603 |
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Pillar of the Community
United States
5856 Posts |
I've noticed when watching the PM charts that prices often spike or plummet dramatically right at 10:00 AM EST, after which time they usually correct. In fact, gold and silver just started spiking a little while ago today (at 10:00).
Does anybody know what's going on? Is there some overseas market that opens (or closes) at that time?
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Pillar of the Community
United States
1450 Posts |
Well,Bernanke was on the Hill again today at 10 AM. Moderated a bit from what he said yesterday. Maybe that caused the move up.
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Pillar of the Community
United States
1554 Posts |
I agree Barryg, for months now and almost every day this happens.
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Valued Member
United States
404 Posts |
Are all the overnight trades going through in the first hour causing the heart beats?
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Pillar of the Community
United States
1450 Posts |
I know the European stock markets close at 12:30 eastern time. Maybe their commodities markets are closing at 10 am,eastern. Just a thought
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Pillar of the Community
United States
3670 Posts |
I would agree with the above thoughts....
It is like why do I always look at a clock at 3:33, or 11:11....
Not weird when I look at the clock at those other random grouping of numbers, but for some odd reason our brains pick out 2:22, repetitive patterns and try an place some real importance on it, but in the end it is just another weird coincidences this world produces every day by the truck loads....
Just our own perception of things in the end. With us closing in on 7 billion population fast, more an more coincidences will enviably occur, as in the end we are all creatures of habit, with many similarities an daily patterns....
Edited by Silverhawk74
03/01/2012 7:00 pm
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Pillar of the Community
United States
4008 Posts |
10 AM is the classic cartel raid time. It happens over and over at this very same time, so is not any kind of a surprise. At that time, the bullion banks dumped 50 million ounces of paper gold and 225 million ounces of paper silver in less than 30 minutes. That much volume stuffed into the market in that short of time HAS to drop the price. It is definitely a supply and demand situation, so when the supply increases very quickly, demand drops just as fast and with it so do the prices. Banks holding large amounts of naked shorts WANT the price to fall so they can cover those shorts at MUCH lower prices. This has worked very well for years now but an interesting trend has emerged in the last year or so. Every time this is tried now, lots of buyers come in to scoop up any available gold or silver metal which puts upward pressure on PM prices. The paper pushers may have forced down the PM prices but they could not hold them down for very long. When they did this in the past, prices would fall and stay down for days or even weeks at a time. When they do it now, the prices fall for a day or two but then pop right back up. Their game is not working as well as it once did thanks to rising PM ownership and higher demand in Asia and other places.
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Pillar of the Community
 United States
5856 Posts |
Well, it's a little before 10:00 and PM prices have just started plummeting. Maybe it's a coincidence, though, since prices also dipped sharply at around 6:00 AM before rising a bit around 8:00 AM. I guess we'll see if anything happens in another 10 minutes or so...
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Pillar of the Community
United States
1554 Posts |
Thanks Ed B for the info and barryg for bringing up this topic, it dropped as usual at 10am today. I've seen this happening daily and thought it was an unusual occurance!
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Pillar of the Community
United States
5856 Posts |
Well, it looks like today the prices started dropping sharply just before 10, but soon afterwards there was a surge upwards.
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Pillar of the Community
United States
2424 Posts |
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Pillar of the Community
United States
1554 Posts |
SDcoinguy, We are talking about a daily occurence not a one day JPMorgan thing.
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Valued Member
United States
264 Posts |
@SDCoinGuy, thanks for the link. The level of detail was something rarely seen on the web. I also liked the image inside and decided to share it with everyone... ... want to buy, popcorn running out...   |
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Pillar of the Community
United States
2764 Posts |
If the article SDcoinguy provided is true then it seemed like the Silver/Gold market can be manipulate easily by a few large Bank..... we are at the mercy of their games!
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Pillar of the Community
United States
667 Posts |
When you are a small player you are always at the mercy of the big players. It doesn't matter what you are talking about.
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Pillar of the Community
United States
4008 Posts |
Exactly so, MK. It's like they say about playing poker: if you can't tell who the mark is, it is you!  The only advantage we have is nimbleness. If we can be quick enough, we can jump in, grab a few crumbs, and jump back out before those big jaws snap shut. |
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Replies: 34 / Views: 4,603 |
Posted 03/01/2012 12:39 pm
