Story in Bloomberg that vault space for gold is running out and that some firms are planning on building more space. Enough with futures markets and certificates, investors want the hard asset to touch and they do not want it in Europe. If you have gold, many are putting it in a vault and not keeping it in less safe environments. The cost of holding in the vault is about 1% of the value per year.
This could be the sign of a market top when the infrastructure for the market starts to adjust to higher prices. It certainly means that the gold increase is not viewed as temporary. Of course, talk of gold tops are all suspect with this kind of thinking. It is grasping at straws through looking at supposed "bubble" behavior. The fact is clear that as long as bank uncertainty is high, more investors will be buyers even at the current high price.
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