LBMA Media Centre

This is a dedicated area of the LBMA website devoted to keeping you up to date with the latest news updates, as well as past and present Press Releases, Publications and Speeches.

Latest News

Find out what the LBMA and its committees are currently doing.

Read More


LBMA webinars with all the latest market developments.

Read More


LBMA publications past and present including articles from the Alchemist.

Read More

Media Library

LBMA’s Media Library, view all our content here.

Read More

Gold and Silver Manipulation: What Can Be Empirically Verified?

Tuesday, January 26, 2016

A new independent and scientific study was released on 24 January 2016 entitled ‘Gold and Silver Manipulation: What Can Be Empirically Verified?’ 

The study examined the issue of gold and silver price manipulation, in particular price suppression and says that there is no evidence of systemic price suppression in gold and silver.

Undertaken by the distinguished academics Jonathan Batten of Monash University Business School, Monash University, Melbourne, Brian Lucey of Trinity School of Business, Trinity College, Dublin and Faculty of Economics, University of Ljubljana and Maurice Peat of the University of Sydney Business School, Sydney. The academics sampled precious metals data at five minute intervals collected from Thomson Reuters Tick History for the period 1 January 2010 to 30 April 2015. Their findings reveal there is no evidence to support the notion of price suppression.

Please read the study in full here. (Please follow the prompts and choose either the ‘Download This Paper’ or ‘Open PDF in Browser’ to read the study.) The study contact author is Brian Lucey and he can be reached at

Press Release