Bob Moriarty: A Major Low In Precious Metals Is Imminent

The last time we caught up with 321gold founder Bob Moriarty on July 25th he said that silver was near a bottom but gold could have further to fall. As it turned out both gold and silver turned higher in the final days of July and rallied into early August. However, those gains have since evaporated and silver is plumbing new 52-week lows below $18/oz while gold is struggling to hold above the $1700 level. Naturally, mining stocks have also increasingly moved out of favor among investors and just when it seems like sentiment in the sector can’t get any worse, it does.

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