Here is a link to an article/interview with Eric Sprott.
He lists a nice summary of the evidence that the physical gold market is tightening: declining inventory at the COMEX and GLD, German gold repatriation request, ABN Amro cash settling gold commitments, import restrictions in India, negative GOFO rates, and LBMA shipment delays. I've written about these data points previously, if you want some background about them.
It is reassuring to see that Eric and I focus on the same situations and interpret them consistently. As a precious metals fund owner and manager, Eric certainly has more and better contacts and experience in the gold and silver markets that yours truly.
Since everyone is in agreement that physical gold supply is clandestinely constrained, the big questions is when will the true supply become evident. And then the price of physical gold will take off. Eric Sprott seems to imply that he thinks we are at the bottom now. So far, Jim Sinclair is the only pundit I have see out on a limb. He wrote that the COMEX will default in the next 90 days, which should cause a huge jump in gold prices.