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Gold and silver prices are sensitive to many economic and geopolitical factors. We can say that the gold and silver are 'indirectly' priced. The LBMA conducts the electronic auctions to set the old, silver, and other precious metals' prices twice a day. The London Gold Fix is the globally acknowledged benchmark for gold prices in trading and contracts. There are other aspects of this gold and silver price manipulation. Please refer to the latest TraderMade Blog: 'How Gold and Silver Prices are Determined' to learn more on this.