|Spot Price Today / oz||Weekly Change ($)||Weekly Change (%)|
|NZD Gold||$1758.83||– $21.44||– 1.20%|
|USD Gold||$1270.05||+ $14.45||+ 1.15%|
|NZD Silver||$24.51||– $0.32||– 1.28%|
|USD Silver||$17.70||+ $0.19||+ 1.08%|
|NZD/USD||0.7221||+ 0.0168||+ 2.38%|
|Looking to sell your gold and silver?Visit this page for more information|
|Buying Back 1oz NZ Gold 9999 Purity||$1689|
|Buying Back 1kg NZ Silver 999 Purity||$749|
The Kiwi dollar has been key again this week. But in an about face, it has rallied over 2% higher from the very oversold level of a week ago.
This in turn has sent the low prices of gold and silver lower even while the US dollar prices have rallied.
NZD gold has yet again dipped down to $1750 before bouncing higher. That makes it the 5th time since April! So we are still in the $1750 – $1775 range.
The lower half of the chart is gold in USD. It has just snuck up above the important 200 day moving average (MA) again.
Silver in NZ dollars is just below the uptrend line and 200 day MA. However this is perhaps not a major concern yet as NZD silver did dip below the 200 day MA in late March for a couple of weeks before resuming its ascent.
While silver in US Dollars is just above both the uptrend and 200 day MA lines.
Jeff Clark at goldsilver.com gave some good advice if you’re worried about a recent purchase that may have been at higher levels than we are right now:
However fractal analyst Hubert Moolman (from whom we published a report on silver a few weeks ago: Silver Price Forecast: Higher Silver Prices For Many Years To Come), has noted in a post just out today that gold is close to an important juncture:
He’s not the only one we’ve read lately that is getting cautious on both the long term bond markets and the stock markets. But picking a top is notoriously difficult to do.
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We mentioned it fairly late in last weeks email as it had only just been posted. But we’ve had some great feedback from a webinar we did last week. So thought it worthwhile mentioning again.
Just bear in mind it was done for an audience of forex traders. Therefore it has a bit of chart and technical analysis focus. But hopefully we got across the points clearly enough so even if you don’t have much knowledge of charting you’ll still find some benefit.
The most interest seemed to be surrounding these 4 alternative measures of gold and silver “value” we discussed:
So if you haven’t done so we’d recommend checking that out this week. Click through and check out what else got covered at the very least…
Is it just us or have you also seen more more mainstream banker types warning about the dangers that central banks have created?
Firstly Stephen Roach, the former chairman of Morgan Stanley Asia and the firm’s chief economist but now a senior fellow at Yale recently said:
Then we had the Chairman of UBS bank, also warning about the dangers central banks have created:
This theme was summed up nicely this week in an article by former Federal Reserve of Dallas analyst Danielle DiMartino Booth. So yet another former insider pointing out the trouble sbrewing. Hat tip to John Mauldin’s “Outside the box”:
The likes of Martin Armstrong among others have argued that when the masses lose faith in central banks and government that is when the system becomes unhinged. We doubt we’re there yet but we do seem to be stutter-stepping our way ever closer to that day.
The trick is to be prepared in advance with your metallic insurance. Better years early than a day late.
Get in touch if you have any questions about the buying process. David is happy to answer them.
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|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.|
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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.
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