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Ed Steer: How the London fix has suppressed gold prices since 1975
From Sprott Money, Toronto
Tuesday, May 5, 2026
Originally published by [GATA board member] Ed Steer on November 4, 2024, this article examines longstanding distortions in gold pricing and the structural imbalance between paper and physical markets.
We are reposting it today because the core observations remain highly relevant, particularly the discussion around the "London bias," price management between the AM and PM fixes, and the broader implications for true price discovery.
... Dispatch continues below ...
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As ongoing market activity continues to reflect similar patterns in global gold and silver flows, the underlying thesis -- that paper market activity has distorted true price discovery in gold and silver -- still resonates in today's environment.
... For the remainder of the analysis:
https://www.sprottmoney.com/blog/gold-manipulation-london-bias-1970-2024
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