|Spot Price Today / oz||Weekly Change ($)||Weekly Change (%)|
|NZD Gold||$1817.70||– $3.80||– 0.20%|
|USD Gold||$1321.65||– $12.60||– 0.94%|
|NZD Silver||$26.41||– $0.65||– 2.40%|
|USD Silver||$19.20||– $0.62||– 3.12%|
|NZD/USD||0.7271||– 0.0054||– 0.73%|
|Looking to sell your gold and silver?Visit this page for more information|
|Buying Back 1oz NZ Gold 9999 Purity||$1750|
|Buying Back 1kg NZ Silver 999 Purity||$808|
Gold in NZ dollars is down just a smidgen on last week. After darting higher it bounced down off the 50 day moving average. It now looks to be coming back to once again test the 200 day moving average.
A level which has held 4 times already. So this could again prove a good place to take a position.
While silver in NZ dollars is down almost 2.5% on a week ago. It has been making a series of higher lows since late August. So the question is whether it can again move higher now from the current level?
The NZ dollar likely won’t give either metal’s local price a boost in the coming days though. The dollar has dipped down to the 50 day moving average which has proven to be good support most of this year. Also getting close to the lower Bollinger band (the blue shaded area), which it generally bounces higher from.
In recent weeks we’ve been discussing the potential for long term interest rates to rise.
Our feature article this week looks at the recent issuance of SDR bonds in China and how these might cause long term US treasury bond rates to rise. Chiefly because this will cause a lessening in demand for US Bonds and so their interest rates will need to rise to attract purchasers.
With interest rates having been so low for so long any rise is likely to take many investors by surprise.
Jared Dillian in his “The 10th Man” newsletter this week laid out a brilliant “rule of thumb” technique to show just how much “no risk” bonds could fall if interest rates rise.
No doubt you’ve heard a bit about Deutsche Bank and their troubles lately. Germany’s biggest bank is also the holder of one motherlode of derivatives. Bill Bonner runs through just how significant this may be:
Meanwhile Martin Armstrong makes a strong case for the lack of return to pension and retirement funds due to negative interest rates, being the cause of the next financial crisis.
It will be tough to call in advance the cause of the next crisis. Of course it’s also possible that the world continues to – coin a phrase of John Mauldin’s – “muddle through” for quite some time yet.
The odds are the powers that be won’t let Deutsche Bank fail since there is so much riding on it. The head of massive German insurance group Allianz said he believes the German government will step in if it has to regardless of what it may be saying publicly.
But there are certainly no shortage of “white swans” already flapping
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Last week we posted an article from Stewart Thomson that looked at potential implications for both stocks and gold from an eventual Fed rate hike.
Bill Bonner also thinks that now might be a better time to sell stocks and buy gold.
Right now looks like a similar bounce higher in stocks to that which ended in 1976, before a further drop in the Gold vs Dow ratio.
So if history rhymes we may see gold continue to rise in comparison to the Dow now again. This doesn’t mean the stock market has to fall in dollar terms though. Just that gold rises in comparison to stocks.
The Reserve Bank of New Zealand is consulting on a new “Dashboard” which involves publishing quarterly information from locally incorporated banks on the Reserve Bank’s website in a standardised and easily comparable manner. This would replace the requirement for locally incorporated banks to prepare off-quarter disclosure statements.
While it would be useful to have information on all NZ banks in one place to make it somewhat easier to compare them, the biggest risk bank deposit holders in New Zealand face is likely not from any one individual bank.
Rather it is systemic risk caused by New Zealand’s large net foreign debt position and the still significant offshore funding that this necessitates.
This very point was brought up in an article today by economist Geoff Simmons of the Morgan Foundation which was critiquing this week’s TV episode of Nigel Latta on the low productivity NZ economy.
This offshore funding could dry up overnight due to a global problem.
Like say maybe a derivative collapse in a major German bank perhaps?
The resulting lack of counterparty trust between banks could cause an abrupt stop to interbank lending. And therefore major issues for New Zealand banks and by extension New Zealand deposit holders.
This counterparty risk is of course something that gold and silver lacks. If you have some money in the bank, it’s a good idea to hold some gold or silver as a counterbalance.
Just reply to this email for a quote or phone David on 0800 888 465 if you have any questions.
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Wed, 28 Sep 2016 12:37 PM NZST
Mike Maloney explains that every 30 to 40 years the world has a new monetary system. And the global dollar standard is the worst design of all these systems — yet it’s 45 years old. So it’s way overdue for its own demise. And when this one crumbles, everyone is going to feel it. Earlier […]
Tue, 27 Sep 2016 4:14 PM NZST
The Chung Kuo futuristic epic novels are meant to be a good read. Doug Casey gives his as always non-conformist, non-pc view on a comparison between China and America, by the sounds of it taking some inspiration from the books. Check out his view of how the world turns out with respect to the steady […]
Tue, 27 Sep 2016 3:34 PM NZST
Here’s an interesting comparison between ancient Rome and the current global empire. There are many parallels and therefore lessons that can be learnt… Going the Way of the Denarius By Jeff Thomas History repeats. (Or it rhymes, depending on your choice of words.) Throughout history, there has been an extraordinary tendency for governments (and cultures) […]
Tue, 27 Sep 2016 3:06 PM NZST
We referenced a line from this Bill Bonner article a few weeks ago. But it’s worth checking out the whole PIECE for his theory as to how a ban on cash might be rolled out. Including what the cause may be and how the central planners will react… This Is How the Feds Will Ban […]
Thu, 22 Sep 2016 5:20 PM NZST
This Week: Silver’s Relationship to Interest Rates Monetary Forum’s ‘Seven Ages of Gold’ Report Sees Metal Regaining Status Free 10 oz Silver Bar or a Candy Bar? Gold Silver Ratio. How high might silver go? Prices and Charts Spot Price Today / oz Weekly Change ($) Weekly Change (%) NZD Gold $1821.50 + $3.82 + […]
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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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