Speedometer boucing

Had the same problems along with a very loud sound while driving...it turned out that it required more than lube... the gear was shot, so we disconnected...now I have to guess how fast I am going!
 
Try spraying the full length of the cable housing with Gibbs a few times over several days. That stuff penetrates pretty well.
 
Remove the inner cable and soak it in solvent to remove all old lube. Clean the old lube from the ID of cable housing. Relube the inner cable with a mix of light oil and graphite, and reassemble the cable to the speedo head, and turtle.
 
I had a similar problem with my 46 merc, removed the speedo gauge and lubed it with a few drops of oil,there is a small lead plug that needs to be removed to do it,that fixed the problem
 
If the cable isn't the problem there is a good chance the bushings in the speedo have worn to the point where the drum that the needle is attached to is contacting the spinning part that makes it work. I forget which side has the magnet but basically there are 2 parts that are very close to each other and when the bushings get worn, they can make contact and the needle will jump. I think this possibility is what the #2 post was probably alluding to.
 
I don't know what speedometer you have or for what car but they are mostly all rotating magnet with a drag cup as deuce roadster mentioned. Sometimes lubricating the magnet rotor shaft will do the trick and sometimes it won't. Many of the old Ford types have a way to access the oiler wick for that shaft but not all do. There are folks that rebuild speedometers of all types out there but I don't know who to suggest. It helps to know make & model plus any info about the subcontractor that originally made it can help too. Several companies made them for Ford back in the day.
 
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