Physical Gold - Paper Gold has MASSIVE Divergence

I personally do not trust the true inventories backing various "paper" gold instruments......I went all physical many months ago.
 
Quote from AMT4SWA:

Sorry but that inventory (when was it last audited???) is not all for sale.
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If you pay the full price to take delivery on your long gold contracts the gold in the warehouses is available to you or anyone else.

Obviously, some of the gold in COMEX approved warehouses is held by industrial users and investors and not for sale.

There are also other non-COMEX approved warehouses that hold stores of gold.

The warehouse data is as of 10/07/08. Do you have some reason to believe that the COMEX approved warehouses lie to the COMEX about how much gold they have?
 
Quote from SethArb:

lease rates exploded recently

http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/10/08/borrowing-gold.aspx
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"More likely, it is a combination of a physical shortage of gold, along with those who hold long positions allocating it to ensure that it can be recovered if the bank that holds it fails, he added."


This is the same reasoning that I am in all physical gold for my gold position.....I have NO trust in any of the institutions which broker "paper" gold trading. :D
 
Quote from jeb9999:

The warehouse data is as of 10/07/08. Do you have some reason to believe that the COMEX approved warehouses lie to the COMEX about how much gold they have?
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Yes I do......just my opinion based on some gold brokers I pay attention to. Also, it has a lot to do with those who CONTROL the availability for delivery.......if a mass of "paper" holders all want their gold after some significant "event", will they actually be able to get their hands on it??? :)
 
Quote from Daal:

I rather have electronic gold, selling coins is a pain. plus bid ask spread is tighter
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Up until the point it is undeliverable. :eek:

:p
 
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