Well, just like you mentioned, it might be very troublesome for exchangees to deliver physical gold which leads to rise in fee. I'd have mentioned that it's needless for someone who wish to keep his gold on the exchange to pay extra fee for delivery this is especially for gold traders.
Personally, I'd keep my gold safe in a bank, so far I have an evidence that I own the gold... I'm good.
RE: US: Physical Gold Deficit on the COMEX Exchange
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US: Physical Gold Deficit on the COMEX Exchange