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Updated 01:48 22/09/20

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Gold Price Manipulation?

Duncan Richardson, News Editor
10 Jul 2015, 9:48 a.m.

More and more people are questioning if the gold and silver price are manipulated lower.

Over the last two weeks the gold price has actually fallen despite the events in Greece and meltdown of the Chinese stock market. The complete opposite to what conventional wisdom would expect i.e. gold and silver prices rise during economic and political turmoil.

For instance Greece’s future in the Eurozone is in doubt and there is speculation that they will be forced to return to the drachma. If they do exit the euro and default on their debts will Spain, Italy and Portugal follow?

Normally during periods of uncertainty the gold price would take off. So far this has not happened and gold just can’t find a bid. In terms of U.S. dollars the gold price is close to a 5 year low.

Is it possible the gold price is being manipulated? In February, the U.S. Department of Justice launched an investigation into precious metal manipulation. In total ten banks are being investigated including Deutsche Bank, Barclays and JPMorgan. Financial regulators in Switzerland and the UK have also launched their own investigations.

If the price is being manipulated lower it can only last for so long. The price manipulators will eventually run out of metal and market forces will once again dictate the price. Many within the gold community are becoming more and more convinced the gold price is being suppressed and the latest price action only adds fuel to the flames.

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