What does "they" refer to in this sentence?

I don’t understand the pronoun "they" and the subject of "are" in the following sentence.

Silver prices yesterday jumped 13% to an eight-year high after some online investors suggested dumping money into silver would hurt big banks they believe are artificially suppressing prices.

Can I interpret "big banks ~" to the following?
big banks (that) online investors believe (that) bankers are artificially suppressing prices.