Massive Run On Physical Gold & Silver At UBS & Scotiabank

kingworldnews.com

Today a legend in the business told King World News there is a massive run on physical gold and silver at UBS in Switzerland and Scotiabank in Canada.  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, spoke about this remarkable situation and what it means for investors.  Below is what Barron had to say in part I of this exclusive interview.

Eric King:  “Keith, KWN has been reporting on shortages of bullion that are already developing.  What do you make of the run on physical gold and silver that’s happening here?”

Barron:  “There is absolutely no question that this was an orchestrated takedown in gold and silver the last few days.  We already know that ABM AMRO had gold missing, I believe it was out of allocated accounts, and they wanted to give people cash instead of returning gold bars to them.

At the Bank of Nova Scotia in Toronto the gold window has been absolutely swamped.  I have confirmed there were people lined up in droves recently for multiple-hours at a time to buy gold and silver bars and coins....

“I then confirmed with UBS today in Zurich, Switzerland, that they are experiencing exactly the same thing.  They told me people are waiting in long lines for bullion related bars and coins.  The physical market is incredibly tight, and there is a huge buying opportunity right here.

The damage in gold will not be long-term because physical supply is already drying up.  Asian countries have been aggressively buying gold.  This really is an unprecedented opportunity for investors.  This takedown in the metals has created incredible demand for both gold and silver, and anyone who wants to unload dollars or euros and put them into gold because they don’t trust the currency, now is the time to do it.”