Huge short squeeze developing?, page-16

Sergeant

Comex-CME may only deliver a tiny proportion of the gold settled globally, but the trade in Comex gold futures determines the US dollars spot price globally. That is a fact, like it or not. And regardless of your views on "paper gold" and what you think the price should be, this isn't going to change any time soon. Get over it.

If you don't understand why a premium must be paid for gold in India, you haven't been paying attention.