Yes. Manipulated by JP Morgan and others. Google "JP Morgan and silver manipulation" and you'll find plenty online about it.
Some believe the manipulation is also done by per Fed Reserve. If the "official" market price for gold and silver is low, depressed by trades of paper rather than physical, it can make the devalued dollar appear stronger than it really is while the Fed Reserve prints more indefinitely (QE4, 5, 6, etc.). As an added "bonus," depressing the price makes it easier for China to buy more of it.
The sad thing is that some individual investors are duped into selling precious metals in their possession based upon the depressed price of a rigged paper market.
As a practical matter, when you start looking for real precious metals to buy, you'll discover the true market price you'll pay to get physical gold/silver. There's a premium for actually owning it versus having a piece of paper saying you own it.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Maguire_-_There_Is_Absolutely_No_Physical_Gold_For_Sale.html
Former Assistant Treasury Secretary Paul Craig Roberts tells King World News today that the smashing of gold and silver prices is a Federal Reserve campaign to defend the U.S. dollar against a hyperinflationary scenario. "The exchange value of the dollar is threatened," Roberts says, "and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it's an act of desperation because they've got to establish in people's minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies."
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Former_US_Treasury_Official_-_Fed_Orchestrated_Smash_In_Gold.html
Bingo!...the powers that be can manipulate the price of PM’s but they cant control demand....If gold went to $1000 id expect the “premium” to be at least $300-$400 per ounce to produce “sellers”