Gold price is essentially determined by futures contracts traded on the COMEX. The contracts don’t represent actual physical gold backing them. There is really only a small percentage of physical gold behind the contracts because virtually no one ever requests delivery. There is some minimum amount to do this and its in the millions.

It seems from the above info that someone did in fact tried to take delivery of physical metal and it wasnt there (which everyone knows ) . It appears they are trying to supplement the missing gold with London Bullion Market Association gold but its unknown whether that even possible.

The COMEX allows some sort of Force Majeure clause which means they can declare some extreme event that excuses them from delivery the gold.

Thats my quick take without further research so take it for what its worth

For the record, this could never happen at Goldmoney because goldmoney gold is 1 for 1 100% real gold, there are no paper contracts .

Hope that made sense