Ever heard of the ‘London Fix’ for gold and silver?

When they said ‘the fix was in’ it meant this, that the price was decided in secret, by a small group of men, a cartel, a gang, who had a monopoly.

Goolge that

 

The silver “fix”, a global benchmark for spot silver prices, will cease to operate after Aug. 14, the company that administers the process said on Wednesday, amid increasing regulatory scrutiny of price-setting in bullion markets.

Source: London silver fix to be scrapped from August