Remember Last Summer...22 Dec 2020 11:38
...when I talked about daily patterns in the gold & silver price? Well, having tailed-off somewhat in the intervening months, it is now back with a vengeance.
I've been observing it consistently for the last few weeks. Most of the time, whilst the moves are consistent & predictable, they do not occur in sufficient magnitude for the likes of us to trade them, by the time we've paid dealing costs on both sides, etc. However, I do not doubt that the bullion banks have been...well...making bank.
Well, now the swings are sufficiently wide that these moves can be traded by the likes of you & I. Take this-morning, for example. You may recall that I pointed out that the moves usually take place between 6-8am UK time. This-morning was a little different, but between 5am (which was not the peak price) & 8am, silver fell from £19.65 to £19.10; a move of around 3%.
Just something to keep an eye on. You can bet that most days, metal prices will take a dive between 6-8 am (UK time). If there are any traders out there, you might want to take advantage of it (but maybe watch it first for a bit, in case Sod's Law strikes now that I've pointed it out :) ). I'm not a trader, but having spotted this in July & August & done nothing (but could've made a tidy sum) I'm now tempted.
GLA.