Asked in Consumer Law for California

Q: have banks munipulated the price of silver?

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1 Lawyer Answer
Adam Savett
Adam Savett
Answered
  • Consumer Law Lawyer
  • Allentown, PA

A: Yes, depending on what form of silver you are discussing and on what markets.

There have been guilty pleas from individual traders:

https://www.justice.gov/opa/pr/former-precious-metals-trader-pleads-guilty-attempted-commodities-price-manipulation

https://www.justice.gov/usao-ct/pr/former-precious-metals-trader-pleads-guilty-commodities-fraud-and-spoofing-conspiracy

There are also various private antitrust class and individual actions alleging manipulation of various commodities markets, including silver, such as In re: London Silver Fixing, Ltd., Antitrust Litigation (Case Number 1:14-md-02573, S.D.N.Y.)

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