As far as I'm concerned cypherdoc's point is valid, there is no disconnect of physical from spot IMO.
Maybe there will be at some point in the FAR future
Maybe there will be at some point in the FAR future
Not yet, at least that's visible to us mortals. The separation occurs suddenly and is closer than you think.
The spread is a cost of doing business when it comes to physical. In my case it is close to negligible and tax issues are a much bigger factor. If one plans to flip PMs there is little reason to be dealing with physical and a lot of reasons not to be (imho.) If one is worried about being MF-Global'd playing with ETFs or something like that, one can still hold a core position in physical. Unless they don't desire a core position I suppose.
It's funny you mention taxes - that's effectively a premium paid to government (funding your own oppression?). If you have to pay a 28% tax on an inert chunk of metal that doesn't produce anything, it suggests that the price according to gov't is at least a third higher than official valuation. Of course, that might only be the tax rate necessary to keep the oil bill current. Have you noticed the scramble to close tax haven loopholes in recent years? Watch for governments to bring precious metal into the fold with incentives like they're doing with corporate profits held overseas, then raise taxes...
"Sure, we'll throw out all the back taxes on those billions we wanted - now just step into my lair... closer..."
Thats what I do, bout half physical and half miner stock/etf (in my online brokerage IRA)
Smart. Good to keep some gold outside of your home country as well - just in case.