Look at only #TotalSupply n #Decentralization of physical #gold only.
so 46% +in custody of individuals DECENTRALIZED (hard to grab or confiscate), 17%- in unaudited centralized gov/CBs custody, 22% in centralized hands which can easily seized  or fake or re-hypothicated ETF custody
https://image.nostr.build/b52335e29cab0f75a3d090bed4a67ca326e8dd4efc738d2bf4022d091deb4626.png derivates trading paper volume FAR exceeds real total supply just like bitcoin electronic paper market