I am fairly certain that large amounts of gold in transit have extremely high security, as do the major vaults. If you’re talking about theft risk, smaller gold

I am fairly certain that large amounts of gold in transit have extremely high security, as do the major vaults. If you’re talking about theft risk, smaller gold businesses or the couriers that transport for them are probably most at risk as prices rise, as they may not have the scale and resources to deal with sudden changes in the risk environment. But as dollar value increases I’m sure that insurance will require a commensurate increase in security. Basically, robbing banks (or anything similar to a bank) is never a good idea. It’s not like the quantity of gold available has increased. With China buying and repatriating large amounts of gold, the big secure vaults surely have more space than usual. Some retail gold traders are concerned about issues in the paper gold market, as the total dollars traded is much higher than the total amount in existence, but this concern is just a misunderstanding about how the futures market works. Even so, to me it seems more realistic to worry about some kind of shenanigans in this often opaque “paper gold” market than a sudden outbreak of gold piracy.