Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/329599 
Year of Publication: 
2020
Citation: 
[Journal:] ACRN Journal of Finance and Risk Perspectives (JOFRP) [ISSN:] 2305-7394 [Volume:] 9 [Issue:] 1 [Year:] 2020 [Pages:] 177-197
Publisher: 
ACRN Oxford Research Network, Oxford
Abstract: 
Accusations of price manipulation in the silver and gold markets have emerged in recent years. In an effort to increase transparency, the London spot price "fixing" mechanism was recently changed from an opaque negotiation process among a small number of dealer banks to a more observable auction platform system with more participants and public reporting. This change in the price fixing process raises questions about whether manipulation was occurring prior to the fix change and whether any perceived manipulation has since been reduced. Our results suggest that the changes to the price fixing process have impacted volatilities and prices within the silver and gold markets which could be an indicator of manipulation prior to the change.
Subjects: 
Futures markets
Gold
Price Fixing
Spot markets
Silver
JEL: 
G13
G14
G15
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-sa Logo
Document Type: 
Article

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