Prices and Charts
NZD Gold Pullback Arrives
Gold in New Zealand dollars was down $50 from last week. The pullback we were watching for last week has arrived. https://goldsurvivalguide.co.nz/are-we-just-seeing-a-pause-in-longer-trends/ But NZD gold has already bounced up off the 200 day moving average. So there is a chance it has put in a higher low there already.
In US dollars gold has only just started to turn down from recent highs. So we could yet see it head down to around the $1730-50 area. But there is a good chance that the bottom is in at $1675.
NZD Silver Down Over 2%
Silver in New Zealand dollars continues to consolidate in this sideways pattern just under the 50 day moving average between $31 and $33. After such a sharp rise this is to be expected. In fact it would not be a surprise to see it pull back a bit further even.
While in US dollar terms, silver looks to be trying to put in a higher low around $20.
NZ Dollar Pulling Back After a Strong Rise From 0.61
Currently the NZ dollar is playing a large role in the local price of gold and silver. After rising strongly from bottoming at 0.61, the kiwi is now undergoing a bit of a pull back too.
We continue to expect the NZ dollar to strengthen against the US dollar. So local “gains” in gold and silver are likely to be lower than USD based “gains”. We put gains in quotation marks, as of course these gains should more correctly be viewed as these currencies losing value against gold. In the long run all currencies are doing this. They just take it in turns at being “the biggest loser.”
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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Bullion Coins or Numismatic (Collectible) Coins? Which Should I Buy in 2022?
Normally we argue to steer clear of collectible coins. This week’s feature article gives our arguments for this.
It covers:
- What’s the Difference Between a Bullion Coin and a Numismatic Coin?
- Why Buy Limited Mintage Silver Coins?
- Here’s a Possible Benefit to Buying “Semi-Numismatic” Silver Bullion Coins
- Why You’re (Usually) Best to Stick to Buying Bullion Coins
But you’ll also discover how from time to time there are semi-numismatic coins available for less than bullion coins prices. Right now is one of those times. So not only has the silver price fallen (and we think likely bottomed) but there is a coin available now for over $2 per coin less than a well known bullion coin. Check out today’s feature article for more on that deal.
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.
Supply Update and a Contrarian Indicator
We thank you for your patience if you’ve had to wait longer than expected for orders in recent months. We are finally seeing some improvement in the long wait times for gold and silver. There has been a slow up in demand lately and so refiners have managed to make some headway with the backlog.
So current expected wait times for newly placed orders are:
- Silver 1kg – delivery 2-4 weeks
- Gold is in stock – delivery 1-2 weeks
Longer wait times remain for the likes of silver maple coins. Around 4-6 weeks still. As international shipping and customs delays continue.
Staff absences have also contributed to delays recently from refiners. But hopefully we will start to see this improve now as we begin to edge out of winter.
As noted above there has been a significant drop off in demand in recent weeks. This is not a big surprise to us. In fact it is a key indicator that strengthens our opinion that the bottom is in for precious metals. Of course there are no guarantees and this newsletter is free, so you get what you pay for!
But time and time again we see demand drop noticeably as the price bottoms out. Conversely demand is highest at price peaks. This is just human nature we guess. While the smart money buys at these times when it feels hardest to do so.
So make sure you are not like most people. Get in touch for a quote today:
- 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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