Eric SprottBillionaire Eric Sprott suspects sovereign wealth funds have been significant buyers of precious metals in recent weeks, particularly those funds who were heavy buyers of gold and silver in recent years at higher prices. He also expects miners profit margins to explode as bullion prices increase, which he sees going to $3000 soon. "Gold stocks at a minimum should increase by 2-3x the move in the precious metal." It's a great time to buy positions in the [precious metals] stocks." He thinks silver will do better than gold. "There is not sufficient production of either product to satisfy demand."

Audio: Incredible Global Gold Rush Triggers $3,000 Target | King World News