NH,If this is the case, then a purchase of "paper gold" of some nature should, at some point, rise to the spot price.After all, the "big guys" could simply take acceptance of bullion from a futures contract at the commodity exchange and then sell at the higher spot price. The two prices cannot stay out of synch for long.That said, there is a substantial difference between the true spot price and the price that a dealer who purchased his/her inventory a couple of months ago (at a much higher price) is willing to sell at. That higher price is a business decision that the dealer makes to prevent running at a loss and its acceptance by the purchaser is something that should be carefully considered before consummating a deal. (If the reverse were true and the dealer had bought the stock at a lower price, they would always increase the price to at least the spot price - so it's hard for me to sympathize with someone who could hedge their bets on the futures market as well).Jeff
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