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GoldSeek Radio Nugget - David Morgan: Gold's Weekly Charts and Market Psychology


With gold near all-time-record highs, The Silver Guru, David Morgan, reviews the charts of gold and silver in anticipation of a rocket ship ride to new highs as soon as 2024!
- David outlines his bullish case for gold in 2024.

"So number one, this is a weekly chart which is really good. I like to look at the daily but seldom look at the hourly. Although I have [the] weekly, pretty good as far as long-term investment is concerned. It's sort of like it'll smooth out the curve so to speak. Because you're looking at data week-to-week, you can even use a monthly [chart] which I do as well...and so from this chart, as you can see, green is, you know, buying pressure, moving up, and red is selling pressure moving down."

He continues:

"But [$2000] is often a psychological number for the market going in going forward. So $2000 is going to be locked in all the gold traders' heads. That's basically the floor. That's the worst that's going to do. Could I get under that? Yeah, it could – do I think it will? No, I don't. I think maybe in the worst of the silver doldrums. We might approach that level, I don't know. I again. I doubt it.

We've got a strong market that continues to remain strong – and as you said, the second topic, it's a big yawn to the main markets. Gold is something that is much more establishment than silver, but it is not mainstream from the aspect that you're going to hear anything from."

- Is silver winding up for a big run to record highs, mirroring 2010, when AG 3x'ed in 9 months?
- Is the true price of gold, when inflation adjusted close to $20,000?
- If gold support holds $2,150, is a run to $2,300 the next stop on this bull train ride?
- We review the epic 4 year, bullish consolidation in silver, possibly unrivaled in modern history!
- Is the 4 year silver price consolidation signaling a run to $50+ in the coming months?
- David's work suggests an ultimate zenith of $200 silver, this decade.
- Is silver in a "structural supply deficit?"
- Will the herd pile into silver, once gold prints $2,500, as a sympathy investment?
- As gold climbs to $5,000-$10,000+, will silver gain gold-like status to the masses?

- David's documentary trailer.
- David Morgan's main page.

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