Gold To Break $2,000 & Global Rush Into Silver Will Continue

kingworldnews.com

Today a legend in the business told King World News, “This rebound in gold is only the start of a much larger move, as gold will now go through $2,000.”  Keith Barron, who consults with major gold companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also discussed Europe, the US, Latin America, and spoke with KWN about what he sees happening with silver in 2013.

Here is what Barron had to say:  “Well, we’ve just seen the so-called fiscal cliff avoided.  All they have done is kick the can down the road, and in February we will hit the debt ceiling once again.  So the net result of all of the political shenanigans over the last couple of weeks has been an addition of over $30 billion to the money supply.”  

Keith Barron continues:

“This is being used to stave off all of these tax cuts that were supposed to be automatic.  So this is like a temporary band-aid on things, but it hasn’t made anything go away.  It hasn’t solved the debt situation.  The reality is this is just a huge mess.

But we have seen gold move $13 higher and silver about 70 cents to the upside today as a result of this....

“This move higher is something I had forecast as soon as the fiscal cliff noise went away.  This rebound in gold is only the start of a much larger move as gold will now go through $2,000.

Moving over to Europe, the European situation has not improved.  Everyone has been on holiday and simply ignored the problems.  There are various meetings coming up.  We will see a number of European Central Bank meetings. 

We also have a critical upcoming vote in the German Bundestag on whether or not the various bailouts are legal.  The situation in Spain is getting more dire every day.  The tragedy in Greece continues.  The reality is that Europe is still in a great deal of trouble.

In South America, one of the major events we’ve seen over the holidays is the relapse of Venezuelan leader Hugo Chavez.  Today he is on life support and nobody knows if he is going to survive.  If he does not survive, this is going to be a major turning point for South America.

In Ecuador, Bolivia, Nicaragua, Argentina and elsewhere in Latin America, a lot of these regimes are actively being funded by Chavez through the use of funds from the sale of Venezuelan oil.  I don’t believe that Fidel Castro in Cuba will be around much longer either.

Over the next five years we are going to see major changes in the Caribbean and in South America.  I’ve been to Colombia many times and you would not believe the number of construction cranes in Bogota.  They also have a brand new international airport, and Columbia has really embraced capitalism.

Colombia is making the most of the fact that they have both Pacific and Atlantic ports.  The bottom line is there may be some real investment opportunities shaping up in that part of the world.”

Barron also added: “The momentum will definitely be there for gold to break through $2,000.  In the first half of 2013 we will see that push through $2,000, and silver will be moving above $40.

Silver is the ‘poor man’s gold,’ and as gold keeps going higher in price, investors who would otherwise go into gold will move down the food chain and buy silver.  We have already seen a tremendous amount of US silver eagles being purchased and I think the move into silver will continue unabated as we head further into 2013.”