snipped from:

http://jessescrossroadscafe.blogspot.com/2012/05/gold-daily-and-silver-weekly-charts_25.html

I thought it was interesting that the US government has directed the Fed to backstop the Comex and ICE in the case of a liquidity event or a run on the exchange.

In that event be ready to accept a forced settlement in paper, and to possibly forsake any metal held in custody at an exchange depository to a soft confiscation, ie it was not there in the first place and will lost to a wave of defaults.