Where's the Gold?

JB Slear, a gold and silver broker based in Arizona specialises in helping high net worth clients take physical delivery of gold and silver futures contracts. He said "we're finding more restrictions being applied to overseas buyers, one Comex warehouse will not allow overseas deliveries."

Slear tells his clients that they may have to wait more than two weeks to take delivery as delays and complications in the process have become increasingly commonplace. In some cases this has fueled concern that stockpiles are running out.

However he says "I find it interesting that the Comex numbers don't show any movement at all as far as deliveries are concerned. I have spoken to three of the warehouses and each facility confirms the fact that the metals are being moved out, and in size. Seems curious that the warehouse numbers reported through Comex, are not showing any reductions."
As reported by Rob MacKinlay of Investegate Company News.

Meta: