There is certainly no need to take delivery if you have an allocated gold account on the LBMA, which costs more naturally. If your gold is unallocated, then you are an unsecured creditor. The risk with that type of account rests with the debate about how much gold is sold/bought on a fractional reserve basis. If a significant amount is involved then it's really a case of musical chairs. The action by Chavez to repatriate the gold could turn the music off. I really don't know what will happen but it is interesting to watch it unfold.