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Why do PM's always seem to drop on Fridays?

PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
in Precious Metals
Is there a reason why PM's always seem to drop on Fridays?image

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

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Good question... while I have no inside information, I just suspected people sold off on Friday so there was no 'event' over the weekend to cause a loss in value.... I know, weak, but no other explanation. Cheers, RickO
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭


    << <i>Good question... while I have no inside information, I just suspected people sold off on Friday so there was no 'event' over the weekend to cause a loss in value.... I know, weak, but no other explanation. Cheers, RickO >>



    You could be right but I would think that a bad event would be just as likely as a good event over the weekend.

    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

  • cohodkcohodk Posts: 19,141 ✭✭✭✭✭
    Because they are in downtrends there will be more down days than up days. Fridays are guilty by association.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Good question... while I have no inside information, I just suspected people sold off on Friday so there was no 'event' over the weekend to cause a loss in value.... I know, weak, but no other explanation. Cheers, RickO >>



    image

    That makes more sense than most other possibilities. Or is it just a coincidence?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    This Friday will be different

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>This Friday will be different >>



    Really? Who's cb are you using for that unlikely scenario?.... Judging from your previous "prophecies," it must be yours.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    The general rule is in an ongoing down market people are conditioned to expect bad news. The Friday before a weekend that could easily spell more bad news for the trading vehicle of choice, people are inclined to dump on Fridays due to fear of bad news, and them not being able to get out without a loss on Monday morning. Also some traders just make it a rule to not carry over the weekend.

    As Derry pointed out, that negative Friday trend does and will reverse, and when you first see the change then take note as an additional indicator of a potential general trend direction change.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • derrybderryb Posts: 36,825 ✭✭✭✭✭


    << <i>

    << <i>This Friday will be different >>



    Really? Who's cb are you using for that unlikely scenario?.... Judging from your previous "prophecies," it must be yours.image >>


    Price is based on futures contracts down the road - way beyond this Saturday and Sunday.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

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