Is the Price of Gold Manipulated?
Is the price of gold, and possibly silver, manipulated? The available evidence answers “yes” as it applies to decades past. The pattern strongly suggests that it is still happening today.
Overall, the manipulation has been to suppress the price of gold, where the suppression of silver’s price is one tactic employed to achieve a lower gold price.
In my column three weeks ago, I pointed out that a significant amount of trading in the gold market was not transparent. That provides the opportunity to manipulate the price of gold. But the important questions to answer are who has the legal authority, the financial clout and the monetary incentive to want to suppress the price of gold.
The answer to all three of these questions is the U.S. government.
The price of gold was fixed versus the U.S. dollar for much of this country’s history, almost 200 years. It wasn’t until Aug. 15, 1971, that the fixed ratio between gold and the U.S. dollar was severed.
But, in 1933, President Franklin
