[steveab]

“...gold has been sold that doesn’t exist if the owners of the gold ask for it.”

So, if there are more call contracts, and everyone of them wanted delivery, than the physical supply somebody is SOL, right? Which would make someone that has already taken delivery of gold very wealthy, more than $1770.00 per ounce. Hate to be the gold mine that has sold its future deposit 10 times over.

[South40]

Firstly, I consider gold to be a terrible investment, today, anyway, as it does not offer dividends. With that said, there is no doubt that some, many and perhaps even most current gold investors will be disappointed if and when they should demand their gold only to discover it has been oversold. And of course those who have taken physical possession (as I have) will fare better and for obvious reasons. That's the way ponzi schemes work; some make out and some get hosed.

I bought gold in the 1980s; I invested $10k and I paid about $325/oz. While I could cash in now and enjoy a rough profit of $44,000, I’m waiting until it peaks. When will that be and could it go even higher if those holding certificates demand their gold? Decisions, decisions…