Sunday, July 11, 2010

The Sunday Night Thing

Lately, over the last few months, I've noticed that gold and silver tend to go up on Sunday nights (Monday morning in Asia) and then get beaten down when the US markets take over at 10am EST. Now maybe this is just anecdotal, but it seems to confirm the idea that Asians are slowly accumulating gold and silver while the Western banks seek to suppress the metals in order to keep the paper ponzi going. Almost like clockwork, the best time of the week to buy metals is Monday afternoon or Tuesday morning. I will be watching the price action tonight and early Monday morning to see if I am right.

If the market progresses as it normally does, the gold price will rise a few dollars in Asia, then retreat through the day in the West, barring some major equities move.

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