Prices and Charts
NZD Gold Spikes $40 Overnight
Gold in New Zealand dollars spiked over $40 higher last night, due to a sharply weaker Kiwi dollar. The “gap up” move pushed NZD gold up to touch the 50 day moving average (MA). It would not be a surprise to see the price pull back soon to “back fill” this gap up.
But it certainly strengthens the case for a bottom to be in for gold. We think the odds look good that this is the start of the next wave up as outlined in the chart below. For a full explanation of this wave pattern see: Have Silver and Gold Bottomed? What’s Next for Gold and Silver in NZ Dollars?
NZD Silver Down Just Under 1% – But Still Tracking Along Uptrend Line
NZD silver is down just under 1% from 7 days ago. But it is still tracking along the blue uptrend line since bottoming out in late November. So far silver has been unable to get above the 50 day moving average line. However it is getting more and more compressed between this and the uptrend line, so a break out is likely not far away.
NZ Dollar Plunges 2.6%
Overnight the New Zealand Dollar plunged lower. Falling clearly through the uptrend line dating back a year, to finish down 2.6% from 7 days ago.
Now the question is whether this is a change in trend, or just a correction in a continuing uptrend?
Either way, it won’t be a surprise to see the Kiwi drop down to the 200 day moving average at 0.6850. But it is getting close to oversold on the RSI already. So may not happen right now.
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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Recommended: Incrementum Chartbook 2021
Mark Valek & Ronni Stoeferle are currently working on this year’s In Gold We Trust report. That will be published on May 27th 2021.
In the interim they have released a new chart book. This is a great intro to the very comprehensive but time consuming read that is their full report.
So we’d highly recommend you have a skim. Particularly the inflation section and they also spend a bit of time on silver that is worth checking out in this one.
Some of the key topics are:
- Historic Monetary and Fiscal Stimulus
- The Status Quo of Gold
- Inflation and the Boy Who Cried Wolf
- Silver’s Silver Lining
- Mining Stocks – The Party Has (Just) Begun
- Why Gold is still largely underowned
- Quo vadis, aurum?
The chartbook can be read and downloaded here:
Preview-Chartbook of the In Gold We Trust report 2021
How Much is All the Gold in the World Worth?
A reader this week asked us: “How many US dollars is all the gold in the world worth?”
So we have answered this but also compared it to the current value of all the debt in the world.
Here’s what is covered in this week’s feature article:
- How Do You Calculate the Total Value of All the Gold in the World?
- How Much Gold is There in the World?
- Here’s the Value of All the Gold in the World in US Dollars
- How Does This Value Compare to all the Debt in the World?
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.
Better to Buy Gold by the Ounce or the Gram?
Here is another question in this week:
“l’d like to ask if l buy gold, is it better to buy it in oz or gram? Or which one is more popular or all same?”
It doesn’t really matter at all. The 1oz gold bar is the most popular gold product we sell. Buying in smaller sizes than this means the premium above the spot price is usually a bit higher. So 1 oz is generally better value than anything smaller.
But really it makes no difference when the time comes to sell what size a bar is.
Also for more on this subject you might want to check out this article, especially the section linked below: What type of gold bar should I buy?
Get in touch if you have any questions about buying or to request a quote…
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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