(Yikes, Cramer is extolling golds virtues even as I type...must be a sell sign.)

What I gather it that the University decided to add to their holdings in addition to taking delivery on what they already had. Sure, this is safe haven buying. But it also shows a distrust of the COMEX. Most of the contracts are settled with cash, not the actual metal. I've been hearing rumors of a run on the COMEX. Many investors are coming to believe that the COMEX can only supply a small percentage of the gold that the contracts represent: it's mostly paper gold. And if the bull keeps running, we may see COMEX actually fail to deliver physical gold, then it gets weird. The same situation exists in silver, probably more so, and I think it is more likely to disrupt the markets due to shortages and delivery failures. Silver is still below the 1980 peak, but we are getting close. And yes that was mainly due to the Hunt Concentration, but the silver market is completely different now. Back then there was a stockpile; now there is not.