Prices and Charts
Gold in NZ Dollars Holding Above $1950
Gold in NZ dollars is down just a tad on last week. But is still sitting above the support line at $1940.
Not too far below the 6 year highs, but we could see a further pull back yet. Look for the 50 day moving average at $1925.
Silver Still Stagnating
NZD silver is down about 1% on last week. Sitting at the bottom of the consolidation zone it has been in since February. And at the lows for 2019.
NZ Dollar Finally Bouncing a Bit Higher
After a pretty relentless fall since March, the Kiwi dollar is finally bouncing a bit higher. Up from seriously oversold levels. We could see it move a bit higher yet in the short term too.
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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A Lower NZ Dollar Isn’t All It’s Cracked Up to Be
We’ve been pointing out that a lower currency isn’t all it’s cracked up to be. Well not for the average man or woman on the street anyway. See: NZ Dollar Falls – Why has the NZ Dollar Weakened and Where to Now?
Mark Fowler of Hobson Wealth Partners this week pointed out that a lower dollar also makes New Zealand assets more attractive to offshore buyers. Perhaps why we have seen a number of businesses sold in recent months? And why we could see more in the coming year.
Mark Fowler: NZ for sale – the unintended consequence of a lower currency
Why Buy Gold? No Fiat Currency Lasts Forever – What About the NZ Dollar?
Did you know that since 1975, 17 fiat currencies have failed across the planet? Surprisingly the list isn’t solely filled with third world countries.
But do you know anything of New Zealand’s currency history?
There’s probably a bit you don’t know about even in a young country such as New Zealand.
Here’s the low down…
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.
NZ Consumer Price Inflation – Everyday Staples Actually Up 28% in 10 Years
One of the main reasons given for the RBNZ’s surprising recent interest rate cut was the persisting low inflation rate.
However when you dig a bit deeper into the inflation statistics, you’ll probably not be surprised to hear inflation is higher than the published numbers would tell us.
Here’s a table comparing the consumer price inflation for staple household items (food, housing, health etc) versus discretionary items.
These inflation numbers prompted us to compare the rate of inflation since the year 2000 to a number of other measures. Some of the results may surprise you…
If you read the above article you might be surprised to see how gold has performed compared to property in New Zealand.
With property looking like it’s topping out, and gold still a way off its highs, now is likely a good time to get some wealth insurance.
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