There seems to be a divergence of prices of paper gold and physical gold. Author has yet to go to his gold dealer to verify but according to other contributors to this blog and other reputable websites, there seem to be a big shortage in the physical gold market. Part of the explanation is because of the lack of coin minting in the recent years, and the other part is demand from the "safe haven" trade + retails.
Here are a few good links:
Jim Sinclair - Oct 19 2008 - The Bullion Market Versus The Paper Gold Market - An Explanation
SeekingAlpha - Oct 15 2008 - Countdown of manipulated gold price running out
Guardian UK - Oct 13 2008 - How to buy Gold?
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