In many, many cases, physical delivery of commodities like gold, silver and nickel to perform obligations under futures contracts does not involve changing the physical location of the product. It often means only a change of ownership. The gold or silver stays in the same warehouse, which may be in Switzerland, or in London, or in the USA, or in South Africa, and the only thing that changes is a ledger entry that identifies the owner. But these articles suggest that a physical transfer may be happening: https://tinyurl.com/250131BBJPMAU This is a gift link. A Bloomberg subscription is not required. The link expires in seven days. https://www.theguardian.com/business/2025/feb/01/jpmorgan-gold-bullion-trump-tariffs
I've learned (believed) to never trust someone who says they have the product!! Gold/silver coins is the way to go. It will be interesting if any of this comes up missing (fake)... Was thinking of the savings and loan crisis...You would hand the branch manager $1,000. in cash. They would print you your receipt...Then the money went straight into their pockets!! Bill Gates became the richest man in the world by lying about having DOS...
I noticed you didnt mention physical ownership and physical location in Saudi or Dubai or Bahrain. Saudi buying massive amounts of gold ..with oil money. And I doubt Goldman is ever involved in physical delivery of Gold..unless the Fed is coming to and End? However..Goldman hates Trump with every breath. So, this story could be just the beginning of an attempt to break the markets very badly...break Trump very badly. Trump talking about and beginning to act on ending both the CIA and the FBI. This will certainly bring in Goldman..as an Axe on Trumps market and economy. I dont mind or care ..I both trade long and short. I can trade ''full on short''..no problem. And I havent voted since 2000...I mean look at the candidates since 2000 on both sides!