With prices falling, as is often the case people aren’t buying.
So today only we have a special from one of our suppliers who
needs to move some gold.
Today only for NZ gold 9999 purity:
$30,000 plus at spot plus 2.5%
(Normally $1719; today $1702)
$100,000 plus at spot plus 2.25%
(Normally $1706; today $1698)
$200,000 plus at spot plus 2%
(Normally $1702; today $1694)
Ph 0800 888 465 or reply to this email
|Spot Price Today / oz||Weekly Change ($)||Weekly Change (%)|
|NZD Gold||$1758.91||– $41.45||– 2.43%|
|USD Gold||$1173.35||– $16.05||– 1.34%|
|NZD Silver||$23.34||– $0.10||– 0.42%|
|USD Silver||$16.51||+ $0.11||+ 0.67%|
|NZD/USD||0.7073||+ 0.0078||+ 1.11%|
|Looking to sell your gold and silver?Visit this page for more information|
|Buying Back 1oz NZ Gold 9999 Purity||$1594|
|Buying Back 1kg NZ Silver 999 Purity||$711|
NZD Gold has headed even lower this week. But now it is not far above the horizontal support line at $1650. This also coincides with the rising trendline which currently sits not too far below $1650 as well. With the overbought/oversold RSI indicator the most oversold it has been since the end of last year and the MACD indicator also very oversold, NZD gold looks ripe for a bounce higher from here.
Meanwhile NZD silver bounced up off the $23 level this week and is trying to bottom out around that mark.
The Kiwi dollar has jumped higher this week and is once again back above the 200 day moving average. It remains in the uptrend it has been in all year.
Following our feature article on the War on Cash last week, we’ve spotted another couple of related items that have received little press.
The Dollar Vigilante reported that in Spain “Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’
Although we are yet to see that reported anywhere else yet.
But trawling through the Bank for International Settlements (BIS) website this week we spotted the transcript of a speech given by the Deputy Governor of Sweden’s central bank, the Riksbank.
Sweden already has one of the lowest uses of cash on the planet. Now their central bank is contemplating issuing “e-krona” as an alternative to cash.
This means citizens would be able to hold an electronic form of central bank money. Currently only commercial banks can have “accounts” with the central bank. In this case everyday people would be able to also. While they say “it would not be to replace cash”, this is surely another step along the road to that end.
But then they get to the real reason for have a digital currency – even if they do downplay this rationale:
Yes well, e-krona issued only “as a complement to cash” is easy to say now. But as the use of cash in Sweden diminishes further, it won’t take much to find an excuse to remove it altogether. Yet another straw in the wind. We’ve seen a lot of them float by recently!
The overall “narrative” at the moment still seems to be that a Trump Presidency will really get the US economy going and we’ll see a repeat of the debt fueled Reagan boom of the 1980’s. Stock markets have been moving higher on this expectation. Long term bond interest rates also shot higher on the expectation of higher inflation.
However there are some stark contrasts between what Reagan inherited versus what Trump now will. So this likely won’t play out as simply as the US building their way to a better future.
Here’s Bill Bonner:
Jim Rickards goes into even more detail about the differences between the two eras:
The action in the price of gold certainly doesn’t indicate this at the moment. But that is precisely the best time to buy! When the price is down and the expectation is that it won’t be of any use.
The Russian central bank seems to be following this sentiment as their…
—– OFFER FROM OUR SISTER COMPANY: Emergency Food NZ —–
5 days ago Jeff Clark noted that:
Since this was written the BPGDM index has risen back up above 10. Gold mining stocks have held up well compared to gold which has actually fallen further in recent days. It’s also likely that the Commitment of Traders report will also show a further fall in traders net short position, although it is not out until the end of the week.
There has been very little buying of precious metals lately. Which is why one of our suppliers has a special going today in order to move some excess gold on.
So while no one can be sure the bottom is in for this correction, there are a number of signs pointing to that being the case.
It seems a virtual certainty (according to futures markets) that the US Federal Reserve will raise their benchmark interest rate in a few days time. Yet again we are seeing many articles about how this will have a negative impact on gold. Just as we saw this time last year before the first Fed rate increase.
History now shows that just the opposite occurred and gold rose strongly soon after the first Fed rate increase.
NIA just published some further research showing what has occurred previously upon the second rate hike in a cycle.
This would seem at first glance completely counter intuitive. But the numbers don’t lie. While the consensus is that gold has much further to fall yet, it seems likely we are pretty close to a bottom if not there already. And this historical data shows that next year could have quite a movement higher too.
In NZ dollar terms we are now very close to the multi year rising trendline and also very oversold.
So in the long term this will likely prove a decent entry point. Take advantage of the today only deal for some lower priced local gold.
Get in touch if you have any questions about the buying process. David is only too happy to answer them.
** Urgent Message for All Car Owners **A compact, revolutionary tool can save your life.
We believe everyone who drives or rides in a vehicle must carry this tool.
For less than the price of 2 movie tickets you can get 2 of these.
One for each car in your family or give one to someone you care about.
Wed, 30 Nov 2016 4:48 PM NZST
The Silver Summit was in San Francisco 2 weeks ago and Mike Maloney gave a 1 hour presentation (see further down the page). He was also on a Q&A panel and was asked the question “Where is gold going in the near term?” There is a short 5 minute video below with his answer. He actually […]
Wed, 30 Nov 2016 1:37 PM NZST
The Brexit leave vote and the Trump election win were supposedly as a result of rising levels of nationalism or populism in the UK and US. As a result we’ve seen a lot of the mainstream media looking at the downsides of populism. While praising the idea of globalism, explaining it as a flattening of […]
Wed, 30 Nov 2016 11:50 AM NZST
Have you read about the spate of suspicious deaths of banking executives in recent years? When you look at each of them it is hard to imagine they are just coincidences. Here is a couple of examples from back in 2013 that are highly suspicious indeed… What These “Mysterious Deaths” Tell Us About Our Global […]
Fri, 25 Nov 2016 2:27 PM NZST
This Week: War on Cash: Implications for New Zealand The Spreading Bondfire and the Rising Price of Gold Two Days with the Real and Wannabee Elite Prices and Charts Spot Price Today / oz Weekly Change ($) Weekly Change (%) NZD Gold $1700.36 – $36.57 – 2.10% USD Gold $1189.40 – $36.35 – 2.96% NZD […]
|As always we are happy to answer any questions you have about buying gold or silver. In fact, we encourage them, as it often gives us something to write about. So if you have any get in touch.|
|7 Reasons to Buy Gold & Silver via GoldSurvivalGuide
Today’s Prices to Buy
|Can’t Get Enough of Gold Survival Guide?
If once a week isn’t enough sign up to get daily price alerts every weekday around 9amClick here for more info
|We look forward to hearing from you soon.
Have a golden week!
|The Legal stuff – Disclaimer:
We are not financial advisors, accountants or lawyers. Any information we provide is not intended as investment or financial advice. It is merely information based upon our own experiences. The information we discuss is of a general nature and should merely be used as a place to start your own research and you definitely should conduct your own due diligence. You should seek professional investment or financial advice before making any decisions.
|Copyright © 2016 Gold Survival Guide.
All Rights Reserved.