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Notice the big drop in basis starting around midnight (London time). It falls from over 7% to under 2%.
To refresh: Basis = Future (bid) - Spot (ask)
For the first two and half hours, the spot price is not moving. So, the only way the basis can drop is if the price of the September silver future is dropping. In other words, selling of futures. But while that was going on, there was enough buying of spot