Smart move by the French
The Bank of France (BdF) says it has pulled the remaining gold held in New York and replaced it with a similar amount of gold bars in its vaults in Paris.
As we gold bugs say "If you don’t hold it you don’t own it!
Right! I want to hold my gold in my hot little hand.
Gold funds may - may - actually own the gold they say they do. But even if they do they can “rehypothecate” it - use it as collateral for their own loans.
Wendy
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I think that works for governments, but does it work for people? Is it really advisable for a person to store six or even seven figures worth of gold in their home safe?
What would it cost to insure that much wealth being stored in the home? Standard HO policy is about $3000 in cash. Google Gemini* states it would cost an estimated $1500 annually (Personal Property Endorsement Rider) to insure just $100,000 in gold in the home. That is a rather significant annual expense that should be viewed in the same way one would view the operating expense of a fund.
*CBS has a similar figure:
Generally speaking, though, experts say it usually runs anywhere from 0.5% to 2% of the gold’s value per year, Shipe and Elkins say. So, for $10,000 worth of gold, you could expect to pay between $50 and $200.
No, definitely not. I keep my gold in a bank safe deposit box. And I’d be surprised if many METARs have six or seven figures in gold. YMMV, of course.
Wendy
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I sold my bit of gold for around $5400.
It is not important to me.
I hope y’all at the end of the day do not end up with a round trip.
I wouldn’t be surprised if the current gold price bubble bursts like the earlier ones did. But that’s irrelevant to me since I keep my gold as insurance, not as an investment.
Wendy
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And that likely violates your user agreement with your bank (in addition to not being covered by FDIC). Also, banks are getting rid of such boxes.
Well, I think it has been determined that many METARs are multi-millionaires. If someone has $4 million in investments, then $100,000 is just 2.5% of that amount. I would expect any self-declared gold bug to have an even bigger portion of their investible assets in gold - perhaps as much as 25%.
Notice I used the weasel-word “many.” 
Wendy
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Then you don’t own it 