Today we had first day notice and what a surprise. We had a massive 1,391,000 million oz of gold stand or 43.26 tonnes of gold. I have been following the gold and silver comex data from the mid 1970's and I have never seen anything like this before. You will recall that this past December we had only 10 tonnes of gold delivered upon. Generally December is the biggest delivery month of the year. The comex is not a physical market. If one needs physical they generally head over to London at the LBMA and purchase the metal over there. The high amounts standing may mean that our gentlemen from Eastern persuasion are having difficulty finding metal and thus they are heading over to our neck of the woods to obtain this very valuable commodity.
Looks like various countries are getting nervous about paper money, and want something with true value, and stored in their country, not at the Federal Reserve or in London. Just look at Germany and the large amounts they recently withdrew from the Fed, London and Paris.
Here's an interesting article from rewnowned "Gold Guru" James Turk dealing with the subject: (change puctuation where needed)