A Bipolar week for precious metals

Gold Survival Gold Article Updates:

Aug 6, 2014

This Week:

  • A Bipolar week for precious metals
  • Kiwi Dollar Actually Going Sideways
  • Does Gold Seasonality Affect the NZ Dollar Gold Price?

 

A bipolar week for precious metals with gold up and silver down quite sharply.

 

Gold in NZ dollars is up NZ$14.11 or 0.92% to NZ$1543.11. While in US dollars gold is up US$9.50 or 0.73% to US$1306.24

Conversely silver in NZ dollars is down 63 cents or 2.59% to NZ$23.69 and silver in US dollars is down 57 cents or 2.76% to US$20.06.

Looking at the gold chart there have been a few significant occurrences this past week. 

Firstly we’ve seen the price close clearly above the 200 day moving average for the first time since March.

NZ dollar gold has also poked its head above the $1550 level that it has been trapped beneath since March.

NZD Gold Chart

 

Also on a longer term chart we have possibly seen a change in trend take place this past week. NZD gold has been trading within the confines of a downward trend line for the past 2 years. (See the blue line in the chart below). But today it looks to have broken out above this downtrend line – albeit with little fanfare.

NZD Gold Breakout 2 year

 

The fact that this has gone largely unnoticed and that buyers still remain thin on the ground is a positive factor we’d say.

The silver chart is not as buoyant as gold however. Dropping back below NZ$24. However this was perhaps necessary given the large $1 single day jump back in June possibly needed some “backing and filling”.

NZD Silver Chart

 

The breakout above the 3 year downtrend line we noted back in June for US dollar silver is still in play however – clearly seen in the chart below.

USD Silver 3 year breakout

 

Kiwi Dollar Actually Going Sideways

With another massive fall in the Global Dairy Index following auctions yesterday (down 8.4%) the NZ dollar has taken another fall this week. Albeit it has bounced back today. We’ve seen more analysts lower their Whole Milk Powder price projections for next year again as a result too.

So we might be seeing a change in sentiment and therefore trend in the kiwi dollar too. Although the interest rate differential is likely to offer some ongoing support – while it lasts anyway.

But for all the talk of a record high kiwi dollar, it’s actually been in a sideways trading range for the past almost 4 years as you can see clearly below. Given we remain near the top of this range you’d have to say there is more risk to the downside than the upside still.

NZ Dollar Chart

 

As mentioned already there have been a few marks quietly broken through for gold this week. But what does the rest of the year have in store now?

Gold SeasonalityWe look at this in our feature article for the week:

Does Gold Seasonality Affect the NZ Dollar Gold Price?

Given we are coming out of what is often the northern hemisphere summer “lull” we thought we’d have a look and see if the pattern of a rising gold price in the later part of the year was also true in NZ dollar gold. So check that out now.

We’ll give you a hint in advance: Once you’ve read it you might get an inkling that now is a decent time to be buying.

If so you know where to find us. And trust us when we say you’ll be one of the very few currently buying – not a bad thing to be usually.

 

 

This Weeks Articles

 

 

Where will NZ fit in a rejigging of the world monetary order ?
Rejigging2014-07-31 01:56:04-04

Gold Survival Gold Article Updates Jul 30, 2014 This Week: NZ Dollar Continues to Drop Would Rising US Interest Rates Dent Gold? Where will NZ fit in a likely rejigging of the world monetary order? The weakening kiwi dollar has again been the main driver this week for precious metals prices in NZ dollars. While […]

read more…

 

 

The Single Most Important Strategy Most Investors Ignore

Investors2014-08-06 17:59:20-04

Both the Eurozone and Canada are mentioned in this article as sanctioning bank “bail ins” or confiscation of savers funds, and given as a reason for internationalising some assets. Sound advice we reckon, especially since NZ was actually the first to enact such rules. (See this article/video for a primer: RBNZ Bank “Bail In” Scheme […]

read more…

 

 

Does Gold Seasonality Affect the NZ Dollar Gold Price?

Seasonality2014-08-06 21:23:04-04

If you’ve been around the gold sector for a little while you’ve no doubt come across talk of “gold seasonality”. What is Gold Seasonality? Gold seasonality generally refers to the northern hemisphere mid summer lull in precious metals markets – which often seems to match the share market lull at this time of year. This […]

read more…

 

 

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.

 

1. Email: orders@goldsurvivalguide.co.nz

2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)

3. or Online order form with indicative pricing

 

 

Today’s Spot Prices

Spot Gold

NZ $ 1543.11 / oz

US $ 1306.24 / oz

Spot Silver

NZ $ 23.69  / oz

NZ $ 761.79  / kg

US $ 20.06  / oz

US $ 644.86  / kg


7 Reasons to Buy Gold & Silver via GoldSurvivalGuide

Today’s Prices to Buy

1oz NZ 99.99% pure gold bar

1oz NZ Gold Ingot
 

$1595.58

1kg NZ 99.9% pure silver bar

1 Kilo NZ Silver Bar
 

$837.97

(price is per kilo for orders of 1-4 kgs)

$828.92

(price is per kilo only for orders of 5 kgs or more)

 

 

 

 

1oz PAMP Suisse 99.99% pure gold bar


PAMP Gold

$1642.12

1kg PAMP 99.9% pure silver bar

PAMP Silver

 


$887.97

1oz Canadian Gold Maple 99.99% pure gold coin

Gold Maple


$1658.84
1oz Canadian Silver Maple 99.99% pure silver coin (Minimum order size tube of 25 coins)



Silver Maple


Silver Box

Tube of 25 $743.75

Box of 500 $14045

(Fully insured and delivered)

 

 


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

Note: Your funds are deposited into our suppliers bank account only. We receive a finders fee direct from them only.



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Our Mission
1.
To demystify the concept of protecting and increasing ones wealth
through owning gold and silver in the current turbulent economic
environment.

2. To simplify the process of purchasing physical gold and silver bullion in NZ – particularly for first time buyers.

 

We look forward to hearing from you soon.

Have a golden week!

David (and Glenn)

GoldSurvivalGuide.co.nz

Ph: 0800 888 465

From outside NZ: +64 9 281 3898

email: orders@goldsurvivalguide.co.nz

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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.

 

Copyright © 2013 Gold Survival Guide.

All Rights Reserved.

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One thought on “A Bipolar week for precious metals

  1. Pingback: Gold in NZD Has Broken Out of a 2 Year Downtrend - Gold Prices | Gold Investing Guide - Gold Prices | Gold Investing Guide

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