Just like the rigging of the London interbank rate, the price of gold may also have been manipulated for years, Ned Naylor-Leyland, investment director at Cheviot, tells CNBC.

Naylor-Leyland says he expects to hear allegation in coming months that gold was also manipulated as the Libor-fixing scandal has brought down “more scrutiny and more investigation” to markets.

Chris Powell, secretary and treasurer of the Gold Anti-Trust Action Committee, told CNBC last month that, “as central banks are interested in supporting government bonds and the dollar and keeping interest rates low, they continue to manipulate the gold market."

Editor's Note: The Truth About the Economy — Government Documents Lead to Eerie Conclusion

A two-year investigation into the manipulation of silver in the U.S. is ongoing. “Although there is a lot of evidence that it is taking place, nothing has come out of the investigation yet,” Naylor-Leyland said.

"Gold and silver reflect the true value of money the same way interest rates do," he says.

"It is effectively an intervention in two ways; one would be the fact that for central banks, gold and silver going up doesn't make their currency look any good, and secondly a number of the big commercial banks have very large short positions which they like to manage and make easy money from," he told CNBC.

The focus on the Libor-fixing scandal may be turning from the big banks to regulators, The New York Times reports.

U.S. and U.K. politicians are questioning whether regulators let banks report false rates leading up and in the aftermath of the 2008 financial crisis.

Congress Monday requested information about the Federal Reserve Bank of New York’s role at the time, the Times reported, citing people close to the matter.

Barclays agreed to pay $450 million in fines for fixing Libor and other key rates and authorities are considering action against more than 10 big banks, including Citigroup and JPMorgan, according to the Times.

Editor's Note: The Truth About the Economy — Government Documents Lead to Eerie Conclusion