Normally the big moves are when the NYMEX opens so what made it plummet between 2 & 3pm NYT? here is what reuters say http://uk.reuters.com/article/2011/02/24/uk-markets-global-idUKTRE71N6WA20110224 - Gold slipped and crude oil prices dropped sharply from 2-1/2-year highs on Thursday on speculation Libyan leader Muammar Gaddafi had been shot, but other markets barely reacted to the rumour. we are in for a super roller coaster ride if the market moves on rumours like this any other ideas why the prices dropped?
prices dropped because the rate of change in the destabilising process in Northern Africa is not as high as what the bulls paid for.
Join the dots http://www.zerohedge.com/article/ice-hikes-oil-margins-second-time-week http://2.bp.blogspot.com/-2sCrwp9xhcg/TWa-jEuJSmI/AAAAAAAAAG4/zKxZh15zivE/s1600/snapshot-444.png
Gaddaffi shot?!? There the manipulators have their solution. Just shoot all the looney tunes dictators in oil rich countries, install someone regime friendly and the POG drops - ooops they do that already don't they. Silly me.
if Gaddafi being shot makes a difference then can we assume the price of lead and brass affects the silver price ?