Gold would already be over $1000 and possibly $2000 if all the...

Gold would already be over $1000 and possibly $2000 if all the ETFs currently being sold and held by investors as "gold" were actually backed, ounce for ounce, by real gold. They are not, and gold is scraping around $900. ETFs are the Central Banks answer to soaring gold prices and plummeting value in their currencies.
The next 12 months will be interesting times.