Actually, it is irrelevant, the Comex doesn't have any "orders," they're merely the exchange, the "orders" come from longs who actually want to take delivery and pay in full.
Why is it so hard for people to understand that 99.99+% of all trades are entered into by people who have no intention of ever making or taking delivery and are liquidated long before delivery is an issue?
As usual, December came and went with no clamor for delivery beyond the routine few. 85 million deliverable ounces in Comex warehouses speaks for itself.
Like I said, this same sort of Comex garbage circulates every time gold prices are relatively high. The rest of the time, the nut-cakes circulate conspiracy theories about how evil forces are holding prices down.
I thought you would say that. So the central thesis of the article is correct, despite your sneering insults. The Comex running a fractional system, and doesn’t really have all the gold they claim to have, and this doesn’t bother you. Fine. Glad you admit it. The fact that it doesn’t bother you is a separate issue, “irrelevant” to you, but at least you are admitting they ain’t got all the gold.