Bob Moriarty of 321 Gold discusses recent precious metal price movements and Osisko Gold Royalties’ leverage to the gold price.
I am firmly on record as saying we started a new gold and silver bull market, actually an all commodities bull market, last winter. The bull was two weeks into a most remarkable climb before even I recognized it. But the rest of the world finally got it and by August the bull was getting tired and long in the tooth. I said we were going to have a serious correction. On the 4th of October I said that a bottom was approaching and I was looking for gold to bottom from $1150-$1200 and silver at $15-$16 soon. I managed to nail gold but silver didn’t quite come down as far as I hoped. On the 14th of November I commented that there was more opportunity in buying shares today than any time in history.
Anyone who claims to get it dead right all of the time is either a liar or a crook. Nobody gets it 100% correct and those who claim Guruhood are most often charlatans. To err is a sign that you are human. After all, we are just stating our opinion. None of us are reading from tablets that we dragged down the mountain. It’s only when your eraser runs out before your pencil that someone is trying to tell you something.
That said, I’ve gotten it right a lot this year and those who understand contrarian thinking have made a lot of money as a result both up and down. Those who don’t, need to spend $13 on Amazon to go buy Nobody Knows Anything. Those who have read the book were not surprised at a …read more