i would suspect either the cartridge, or the tonearm wiring, up to and including the rca's that plug into your fono preamp. you could check continuity from each cartridge clip to the end of the rca plugs, both pos & neg. or, as was mentioned before, the connection from the tonearm wiring to the cartridge. if you have extra stuff, you could try swapping out cartridge, tonearm, fono preamp. it's possible it could even be ic's between fono stage and main pre.
doug s.