Paper gold churns in the west while real gold moves quietly east.

Comex physical inventories
declining.

Mauldin Economics offers data.  Monetized gold is trading actively in the West while gold metal is moving into Asia.  Western bullion deposits have been declining with metal going to Switzerland, apparently to be processed and sold onwards eastwards.  This eastward pattern was there centuries earlier,   Mauldin quotes Gurumurthy that gold is a third of family wealth in India compared to 3% in the West where States both Socialist and Capitalist expropriated all private gold during the last century.

GLD ETF is listed on the NYSE and on three large Asian exchanges as well.  Despite the East's love affair with gold, only 1/350th to 1/700th of the paper gold sales are happening in the Asian markets. They prefer the real thing.

Other interesting material
waiting at the link.
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