Prices and Charts
Happy New Year. Like most people are saying here’s hoping for a better 2021. But if you held gold and silver in 2020, then as you’ll see in this weeks feature article, you likely fared better than most in 2020.
Gold Up Over the Holidays – Until the Weekend That is
Gold in New Zealand dollars quietly rose a little higher over the holiday break. That was until this past weekend anyway, when it plunged to remove most of the gains made in December. Although it has bounced back a little from the initial drop lower.
As a result NZD gold is down a bit under 3% since our last weekly update on 23 December 2020.
Looking at the chart, the weekend’s fall took NZD gold back down to the rising trendline that gold bounced off in late November.
Thus far the November bottom looks to have held.
So while the fall was sharp it has presented what is likely to be an excellent buying opportunity for gold once again.
Silver Also Down But Surprisingly Not as Much as Gold
Silver in NZ dollars also plummeted lower over the weekend. Although somewhat surprisingly, silver is only down about half as much as gold from our last update just before Christmas.
The fall took silver down to retest the break out above the downtrend line. But it has bounced back up from there. Making what is possibly a higher low at $34.
So like gold if you missed the November low, you have a chance to buy now on what has been a significant pullback.
NZ Dollar Remains Strong
The New Zealand dollar has risen over 2.5% since we last wrote to you. It is once again above the 0.72 mark. In recent weeks each pullback has been shallow and shortlived.
It looks like the NZ dollar is building to challenge the 0.74-0.75 region before too long.
We have more thoughts on the Kiwi dollar in our feature article below.
Need Help Understanding the Charts?
Check out this post if any of the terms we use when discussing the gold, silver and NZ Dollar charts are unknown to you:
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Gold & Silver Performance: 2020 in Review & Our Guesses for 2021
With 2020 in the rear view mirror, it’s time for our annual year in review along with a look back at our predictions from a year ago. Plus as is the tradition to also take a few punts on what 2021 may hold.
These are probably more for fun than anything. As making a prediction to take place in a specific time frame is really a fools errand.
But see what you think…
Your Questions Wanted
Remember, if you’ve got a specific question, be sure to send it in to be in the running for a 1oz silver coin.
2021: Many Hoping for a Better Year – But Still Many Uncertainties
There is a lot of optimism around that 2021 will be a much better year for many people than 2020.
Rather than relying on hope and optimism, we’d say it’s best to hope for the best but plan for the worst.
The start of a new year is a great time to review your plans and preparations and improve where you have any points of weakness.
If you haven’t done it yet, that planning should include making sure your basic necessities of life are secure. That is shelter, food and water. Then also making sure your finances and investments are also secure.
We probably don’t have to say that we think gold and silver should be a part of those investments.
Get in touch if you have any questions about buying…
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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