Wachovia Securities this month alerted its brokers and clients that it no longer would purchase precious metals for brokerage accounts, only shares in precious metals exchange-traded funds. In an explanation given to its brokers, Wachovia said the precious metals markets "are illiquid with wide bid/ask spreads and minimal transparency."

Wachovia's letter informing clients of this change is appended, along with an elaboration given to the firm's brokers.

This implies that real metal is awfully hard to get these days, and maybe that some brokerages would prefer that their clients not get it.

My comment. THEY CAN"T GET THE GOODS!!! Why don't they admit it? Minimal transparency? Who are they kidding.