Prices and Charts
Gold Continues the Sideways Consolidation After the Late September Bounce
Gold in New Zealand dollars was up just $9 this week. This move up was pretty much entirely due to the weaker NZ dollar. As the USD gold price was flat from last week.
NZD gold is hovering around the 50 and 200 day moving averages (MA), after bouncing up from the support line at $2500 again. Only time will tell if that is now the bottom. Otherwise we could see a fall to $2450, or even the rising trendline at $2400.
NZD Silver Down Just 9 Cents
Silver in New Zealand Dollars was down just 9 cents from 7 days ago. Like gold, silver has been in a sideways consolidation the past 2 weeks. Hovering just under the overhead resistance line. We are now watching to see if the bounce up from around $31 which was the November low is finally the bottom.
NZ Dollar Down 0.34% From Last Week
The New Zealand Dollar is down 24 basis points or 0.34% from 7 days ago. Just after we sent out last week’s newsletter, the Reserve Bank of New Zealand (RBNZ) announced the first interest rate hike in 7 years. However the Kiwi actually sold off on that news. We’ll have more on that shortly as to why that might be.
So the NZ dollar remains not too far above the recent lows. Still locked in this large sideways trading pattern.
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:
Continues below
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RBNZ Raises Rates and NZ Dollar Falls?
Just after we hit send last week the Reserve Bank announced they were raising the official cash rate (OCR) by 0.25% to 0.50%. The first rate raise in 7 years. It was also expected to be the first in a number of increases to the OCR. In response the dollar actually fell a little. Now a week later it’s also lower than it was back then.
You might expect the Kiwi would rise after an interest rate increase. The standard thinking would be, this is because higher interest rates makes the NZ dollar more attractive to offshore traders/investors. So why is the Kiwi not flying?
Our guess is that traders aren’t so sure there will be a number of other interest rate increases ahead. They might also be realising that while the rest of the world is opening up, New Zealand is more shut down than ever. Debt continues to be racked up with so many businesses still shut or under-performing.
So traders are perhaps picking we will under-perform other countries in the coming months.
Question of the Month Winner For September
Last week we overlooked announcing the winner of our question of the month award for September. A 1 oz silver coin will be on it’s way to Robert for his question:
“Would the NZ Government start adding GST to gold bullion anytime soon as i understand it is not applied at the moment?”
The question was received and answered last month. But we are in the process of turning it into a post on the website. So look out for that next week.
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.
Interest Rates and Gold: If Interest Rates Rise What Happens to Gold?
The same rationale used above to explain why most people might have expected the NZ dollar to fall, is also often trotted out to say that rising interest will be negative for the price of gold.
That is, higher rates make gold less attractive, so the price will fall.
However, in this week’s feature article we explain how that is in fact a dramatic oversimplification.
It looks at interest rates and gold, specifically answering the question: If interest rates rise, what happens to gold prices? This post covers:
- A Common Misconception About Gold and Rising Interest Rates
- What Really Happens to Gold When the Fed Raises Rates?
- Rising Interest Rates in the 1970’s and the Effect on Gold
- Real Interest Rates and Gold
- What Happened to the Gold Price the Last Time the Federal Reserve Hiked Interest Rates?
- What Might the Future Hold for Interest Rates and Gold?
As we conclude in this week’s feature article, be sure you have sufficient insurance before the next leg up in precious metals begins.
Local refinery operations continue under Level 3. But dispatches to Auckland addresses and collections have been suspended as goods cannot be inspected, counted or signed for by the customer.
Dispatches will stored and insured free of charge until it is safe again to dispatch them and signatures can be obtained. When we drop down a level, you will be advised when your order is ready to collect and to book in a collection time to ensure an adequate distance between customers.
Although, currently imported orders are continuing to be delivered via Fedex. So that is an option if you are looking to spend more than around NZ$10-15,000.
Please get in contact if you’d like a quote or have any questions:
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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This Weeks Articles:
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Tue, 12 Oct 2021 4:46 PM NZST
 Last week the Reserve Bank of New Zealand raised the Official Cash Rate for the first time in 7 years. Today we look at interest rates and gold. Specifically answering the question: If interest rates rise, what happens to gold prices? This post covers: A Common Misconception About Gold and Rising Interest Rates Last week […]
The post Interest Rates and Gold: If Interest Rates Rise What Happens to Gold? appeared first on Gold Survival Guide.
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Fri, 8 Oct 2021 8:05 AM NZST
 Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2435 Buying Back 1kg NZ Silver 999 Purity $1010 NZD Gold Rising Up Off Support Line By 1.6% Gold in NZ dollars has bounced up again off the $2500 support line. Ending […]
The post Thoughts on the “Dollar MilkShake” Theory appeared first on Gold Survival Guide.
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Tue, 5 Oct 2021 10:10 AM NZST
 In August we reported that the global share of US-dollar-denominated exchange reserves dropped to 59.0% in the fourth quarter of 2020. This was the 5th straight year of falls and matched the 25-year low of 1995. As a result more people are thinking about a potential collapse of the US dollar. We recently had someone […]
The post If/When the US Dollar Collapses, What Will Gold be Priced in? appeared first on Gold Survival Guide.
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Fri, 1 Oct 2021 6:49 AM NZST
 Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2399 Buying Back 1kg NZ Silver 999 Purity $1000 NZD Gold Down Over $40 From Last Week Gold in New Zealand dollars is down 1.64% from a week ago. It has been […]
The post Silver Outperforming Gold This week appeared first on Gold Survival Guide.
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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.
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Online order form with indicative pricing
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Note:
- Prices are excluding delivery
- 1 Troy ounce = 31.1 grams
- 1 Kg = 32.15 Troy ounces
- Request special pricing for larger orders such as monster box of Canadian maple silver coins
- Lower pricing for local gold orders of 10 to 29ozs and best pricing for 30 ozs or more.
- Foreign currency options available so you can purchase from USD, AUD, EURO, GBP
- Plus we accept BTC, BCH, Visa and Mastercard
- Note: For local gold and silver orders your funds are deposited into our suppliers bank account. We receive a finders fee direct from them. Pricing is as good or sometimes even better than if you went direct.
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| 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. |
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