I Tried To Warn You! Gold & Silver Will Instantly EXPLODE When This Goes Public - Bob Moriarty
Gold has generally outpaced performance in silver over the last few years, but the tide may soon turn in favor of silver. Forecasts pointing to a fourth straight yearly deficit in global supplies and a rise in demand to its second-highest level on record raise the potential for silver prices to rally and even roughly double before the end of 2024.
In this video, Bob Moriarty, a renowned expert in the precious metals industry and mining sector, offers his invaluable insights into market trends. Using the gold-to-silver ratio as a benchmark for value, Bob Moriarty signals his inclination towards silver due to its favorable pricing in contrast to gold. He thinks that despite silver recently crossing 27 dollars per ounce, after a significant increase, it will keep rising. Silver soared sharply and finished the week with gains of nearly 10%, hitting three-year highs after reaching levels last seen in June 2021.
Despite tactical considerations, Moriarty believes that shifting from the US dollar into gold is propelling gold prices. He views the recent gold rally as the start of a significant upswing, maintaining optimism despite a slight price correction. Over the past 111 years, the dollar's purchasing power has imploded by 97% and will continue to lose purchasing power over time as long as it remains a paper currency. Historically, gold prices have done well when interest rates fall, and rate cuts are increasingly likely across most major central banks in 2024 as economies cool.
Last week, gold prices increased impressively by nearly 5%. Kitco News' weekly gold survey shows that the market still has an optimistic sentiment. According to a poll of Wall Street experts, 75% forecast gold prices to increase. Only 8% predict the price will decrease, and the remaining 17% are neutral.
Although Moriarty holds a significant amount of silver, he depicts silver investors as peculiar enthusiasts often called "silver bugs." Despite predictions of geopolitical tensions boosting silver prices, analysts stay realistic about silver's value compared to gold.
During the interview, Bob Moriarty emphasized the potential for significant profits in mining company stocks during times of high precious metal prices. While referencing the exceptional performance of gold stocks in 2016, he cautioned against indiscriminate investments. Over the last five weeks, GDX has rallied a sizable 28.5%, leveraging gold's parallel surge by 2.2x. Naturally, that is working wonders for sentiment, rekindling bullishness and attracting more traders. This sector's outperformance relative to its underlying metal will grow as it chases these mounting gold-stock gains.
Addressing specific jurisdictions, Moriarty voiced apprehensions regarding investing in Mexico's mining forum due to recent political and regulatory uncertainties.
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