The price of precious metals, such as gold and silver, has been a hot topic of debate in recent years. Some people believe that the prices are rigged by large banks and other financial institutions, while others believe that the prices are determined by supply and demand.

There is some evidence to suggest that the price of precious metals may be rigged. For example, in 2020, a handful of JPMorgan Chase traders were convicted of spoofing the metals price between 2008 and 2016. Spoofing is a type of market manipulation that involves placing fake orders with the intention of canceling them before they are executed. This can create the illusion of buying or selling pressure, which can artificially affect the price of an asset.

In addition, there have been a number of lawsuits filed against major banks alleging that they have manipulated the price of precious metals. These lawsuits are still pending, but they have raised concerns about the integrity of the precious metals market.

However, there is also evidence to suggest that the price of precious metals is not rigged. For example, the price of gold has been relatively stable in recent years (bar the few volatile swings), even though there have been a number of major economic events, such as the global financial crisis and the COVID-19 pandemic. This suggests that the price of gold is not being manipulated by large banks, but is instead determined by supply and demand.

Ultimately, it is difficult to say definitively whether or not the price of precious metals is rigged. There is some evidence to suggest that it may be, but there is also evidence to suggest that it is not. More research is needed to determine the true extent of any market manipulation.

In the meantime, we should be aware of the potential for market manipulation when investing in precious metals. We should also do our own research and choose a reputable broker or dealer.

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