Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Central Fund of Canada (AMEX: CEF) dropped 13% in intraday trading today on heavy volume after futures prices for silver plummeted.

So what: About half of Central Fund of Canada's assets are in silver, with much of the remainder in gold. The price of silver fell more than 13% in Asian markets before U.S. markets opened on Monday morning, with no apparent catalyst for the sell-off.

Now what: The price of silver has been on a tear, increasing 5.5% last week and more than 50% year to date to a 31-year high. Along with gold, many investors view silver as a hedge against inflation and/or a weakening dollar. Silver's spectacular run has brought valid warnings that its price could come crashing down.

Interested in more info on Central Fund of Canada? Add it to your watchlist by clicking here.

Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.