That "single largest shareholder" of GLD is John Paulson, who sold the GLD ETF, but the media doesn't report that he replaced it with over-the-counter gold derivatives, which means he is probably planning to take physical delivery of gold--if there is any left.
http://www.zerohedge.com/news/2013-08-18/jpmorgan-puzzled-record-gold-backwardation
Monday, August 19, 2013
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