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There is a lot of nonsense being written about the gold market. One myth is persistent:  the Comex — London’s 'paper gold market' — is thought to be on the brink of collapse. For example, Zero Hedge, in one of their articles, stated that “there is now an unprecedented 228 ounces of paper claims” (futures contracts) in circulation for every troy ounce of physical gold 'in the Comex vaults." Myth or reality?

The Myth

THE TOTAL AMOUNT OF GOLD STORED BY COMEX RELATIVE TO THE AMOUNT OF OUTSTANDING FUTURES CONTRACTS TO THE COMEX (1 ON 4.9 IS "COVERED").

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