Tuesday, September 05, 2006

silver odd datapoint

So far it's just a peculiar datapoint, but it tends to support the position of certain hard currency fanatics.

I've been watching the daily numbers for silver on Kitco. An interesting pattern has developed.

Every day, between 10 and 11 am eastern (New York) time, the silver spot prices plunge appreciably - within a 30 minute time frame, and often inside ten minutes. Today, for example, it plunged from about $13.50 at 10:20 (a price it'd been orbitting for most of the morning) to about $12.99 by 10:50. Some days it climbs from the drop, some days it stays with the drop, and sometimes it drops further, but every day there's been a plunge near the 10:30 time.

Just something that's making me go "hmmm".


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