World Changing Events & The Global Run On Gold And Silver
April 30, 2013
On the heels of continued volatility in gold and silver, today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, discusses the global run on gold and silver that we are seeing and what KWN readers must know about the incredible action that is now taking place in these key markets.
Below is Fitzwilson’s exclusive piece for KWN:
Fitzwilson: “We could see some real fireworks in the markets in the next few weeks. This past week saw a run on bullion, particularly silver. We also found out that inventories of gold and silver are dropping precipitously at the well-known bullion repositories, particularly Western central banks and commodity exchanges.
Refiners are severely backlogged, inventories of popular products have been depleted, and premiums on available items have gone up significantly. Panic buying swept the globe since the coordinated takedown of paper prices for precious metals. It feels as if we are very close to some sort of resolution with the potential for world changing events. There is no question that a form of a bank run on gold is occurring all over the world….