In the United States, an investigation has been completed against a JP Morgan bank trader related to manipulations in the precious metals market. Against the backdrop of a serious lawsuit in the gold market, obvious manipulations are no longer observed. The cost of precious metal only benefits from this.
Since the beginning of this 2019, the price of gold and silver has shown a significant increase. For example, gold growth amounted to + 17%, and now the precious metal is trading at around $ 1,500 per ounce. The cost of silver rose by about the same to almost $ 18 per ounce. At the same time, new price records were reached several times during the year. The main drivers of price growth in the precious metals market were numerous crisis phenomena (USA / China, Brexit, Middle East).
Undoubtedly, these were decisive factors for the price rally in the precious metals market. However, there is one more important factor that is usually not voiced by analysts. It is associated with the manipulation of gold and silver prices by large investment banks.