Where has all the Gold Gone?

The total amount of gold available for delivery on the COMEX has fallen to a record low. There are now up to 50 owners for every ounce of gold available for delivery.

The total amount of gold available for delivery in COMEX warehouses currently totals around 774,000 ounces, or 24 tons; 29 tons were requested for delivery in July. With the August delivery date coming up someone should start getting worried.

It would appear that buying gold nowadays does not actually mean you own the asset.

Meanwhile, it would appear as if the Federal Reserve also has trouble finding physical gold:

Of course, if you’re worried about where you gold ‘investment’ is being kept, you could always put it in you pocket.

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