Mainholm
No one who has any choice delivers COMEX gold contracts!
Delivering or taking delivery of COMEX gold contracts is inconvenient (for location), untimely and expensive. Large traders don't do it unless the absolutely have to (mainly for retail clients). Large traders contract bilateral EFT contracts directly which allow them to deliver at any location they chose, on any date they chose, without paying CME delivery fees. All they have to do is novate the futures leg of the trade to CME for cash clearing.
The volumes of these transactions are reported every day buy CME (7,511 contracts on the 23rd alone, which will be more that CME will settle for the whole month of August).
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Source: http://www.cmegroup.com/trading/metals/precious/gold_quotes_volume_voi.html
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