“Is David Morgan’s Gold Price Breakout Real or a Deceptive Fake?

David Morgan is highly respected within the precious metals communities. He has been warning investors for some time that a breakout in gold prices is imminent. But now it appears that the long-awaited breakout may finally be imminent, and with it comes the question of whether it is a legitimate breakout or a fake out. It is easy to see why the anticipation of David Morgan’s analysis has led to such high expectations of a breakout. In short, his predictions have remained remarkably accurate over the years. He accurately predicted gold’s rise to its 2011 peak of more than $1,900 an ounce. Furthermore, he was spot on with his prediction of the bottom in gold prices in 2015. The good news for investors is that the technical indicators are lining up for a breakout. After a four-year bear market the CBOE Gold Volatility Index (GVZ) has recently hit its lowest level since 2006. In addition, gold’s 14-day Relative Strength Index (RSI) has recently risen above 70 for the first time since 2013. So is this a legitimate breakout or a fake out? From the technical standpoint, it appears that a breakout could very well be in the cards. However, it is important to remember that no one can predict the future of gold prices with complete certainty. It is also worth noting that given the tremendous uncertainty in the markets at the moment, it is entirely possible that gold could move in either direction. Ultimately, the only thing investors can do is to take a prudent approach and carefully analyze the information available to them. After all, like David Morgan always says, “Money talks, but wisdom listens!