With gold surging to a new all-time high above $2,100/oz, who better to speak with than 321gold founder Bob Moriarty? A few days before gold made it’s short-lived move above $2,100, Bob and I connected for an update conversation. Every year, in early December tax loss selling has a tendency to deliver a multitude of bargains across the junior mining sector. This year is no different, Bob and I discuss some of our favorite junior miners and Bob offers a bullish forecast for the junior mining sector. In his own words, we’re nowhere near the end of this rally in precious metals mining shares. Without further ado, Energy & Gold’s December 2023 conversation with Bob Moriarty…..
Goldfinger
I think the first place to start, Bob, is this incredible move that we’ve seen in gold and silver in the last few days. On Thanksgiving, gold was around $1,990. This morning, it’s about $2,050, and we’re knocking on the door of a new all-time high. What do you make of this gold move and what do you think is driving it?
Bob Moriarty
Well, I can’t say what’s driving it because I don’t know, but we’re in a seasonally best position, and certainly in the resource stocks, they had made a new low in the XAU and the HUI over gold in the last month. Everything was in place for a move.
I have to think what you’ve said in the last couple of days is absolutely accurate. I think we’re going to set a new, all-time high, and certainly from the actual gold shares yesterday, they’re starting to wake up.