Some of these arguments are very weak IMO. ... sales of actual...

Some of these arguments are very weak IMO.

... sales of actual physical gold continues to trade for anything up to $300 over spot price, proving again that official COMEX gold future numbers are completely divorced from reality and banker manipulation is rife.

He then goes on to discuss Ebay auctions, citing one data point for 1/2 Oz. What does that prove? I mean the wholesale price of car parts might be $1,000 per part, in batches of 100, but a person pays $1,500 on Ebay to get it immediately. So what?

To cite another data point, yesterday gold was immediately available in Sydney, and I bought 30 Oz at close to the spot price.

... The true value of gold is what people are prepared to pay to obtain it, and judging by that criteria, the actual value of gold is currently around $1,100 an ounce based on a conservative estimate.

Nothing conservative about any of this. The October Comex Futures contract is in its final days, and buyers are taking delivery at a price established by the futures market.

The electronic/physical argument is WAY overplayed imo. Banks have my electronic money and I have $50 in my pocket. I have 200 Oz of electronic gold (Comex) and 30 Oz of the real stuff. I will get the Gold delivered (akin to withdrawing money from a bank). Now Comex could default, but we are pretty far from that I think. People may disagree on how close we are, but to argue that there are two different markets operating is nonsensical to me.