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Just Wonder'in Why Gold Drops in the Morning most days.....

jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
in Precious Metals
Why does gold seem to drop like clockwork every day at 9:00 AM? Why not 10:00 AM or 2:00 PM? Why doesn't it ever seem to drop in Asia?

Why 9:00 AM EDT? I mean, what's so special about the same time, almost every day?

It appears that transparency isn't an issue, because it's so flagrant.

Practically everyone knows that the gold banks massively short the gold market, and yet nobody wants to audit them publically.

If it weren't for worldwide demand coming out of BRIC and other sovereign countries, the pog would indeed be fiat - established by decree, just like the dollar.

Are the Geithner clones at Goldman and JP Morgan simply Type 1 personalities who can't vary their schedules?
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • PerryHallPerryHall Posts: 46,238 ✭✭✭✭✭
    Doesn't the New York market open at 9:00?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The US gold futures market opens at 8:20 am followed by the main markets at 9:30 am. The sell downs typically show by noon but seem to be more prevalent from 9 am to 11 am. Charts show that over a number of years the morning US pog is (statistically) significantly lower than the afternoon's price. While there are certainly plenty of mornings that the POG rises, they are far fewer in quantity than the drops. It just might have something to do with the fact that over the past several years that the commercial COT interest is always heavily skewed short to long.....all while the pog has been on an uptrend.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    Looks as if it overslept today ... got cranked up several hours laterimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The 12:00 to 1:00 lunch sell down, while not as popular as the morning hit, is still is a valuable weapon in the PPT arsenal. Sell when the traders are out having lunch and can't defend their positions....catch them sleeping or when they are grogged out from having inundated themselves with MSG and fast food. The PPT goes to lunch at 1:01 and sometimes sleeps in following a weekend of partying hard at Jeckyll Island....lol.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Wolf359Wolf359 Posts: 7,657 ✭✭✭
    Well it's pretty obvious. Silver came crashing down at 1:00. In 5 minutes, all the gains were gone. Same patterns, week after week. The trend is up,
    but the shorts keep it down.
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  • metallbarrenmetallbarren Posts: 135
    Most government reports come out around that time. Things like unemployment and housing data are released at 9am eastern and help steer prices.
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  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    The 12:00 to 1:00 lunch sell down, while not as popular as the morning hit, is still is a valuable weapon in the PPT arsenal.

    Maybe they read this forum and decided to screw around with my post today!image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭


    << <i>Most government reports come out around that time. Things like unemployment and housing data are released at 9am eastern and help steer prices. >>




    Dont be so logical.image

    It is much more important for the "PPT" to manipulate the POG by $10. LOL
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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