Prices and Charts
NZD Gold Bouncing Up Off Support
Gold priced in New Zealand dollars bounced up off the support line at $2850. Getting back above $2900. So gold continues in this sideways range it has been in since late August.
So far it remains above the rising trendline. However the chance of a further fall still remains. Potentially even down to the 200 day moving average.
Silver Up Over 3% This Week
NZD silver bounced back over 3% this past week. Close to the overhead downtrend line once again. Silver has also been bumping along up the uptrend line. As a result we once again have a pennant or wedge pattern forming. There’s no guarantee which way this will break. So we should be prepared in case of a further fall to come. Potentially even down to the 200 day moving average.
NZ Dollar Down 1%
The New Zealand dollar fell just over 1% this week. The price continues to track along the downtrend line. There has not been a clear breakthrough of this line yet. So until that happens we remain in a downtrend.
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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Back to Basics
We have a lot of people new to the world of precious metals who have joined us in recent months. If you’re one of them a warm welcome to you. So today we have a back to basics theme. We’ll cover what to some might appear to be silly questions on purity and weight.
However understanding these concepts is key when it comes to choosing what products to buy.
If you’re an old hand you still might want to have a skim. For instance do you know where the term “troy ounce” comes from?
What is a Troy Ounce? Troy Ounce vs Standard Ounce
What is a troy ounce? Why is gold and silver measured in troy ounces? Are they different from a standard or avoirdupois ounce?
You’ll be an expert on the weights of precious metals by the end of this article…
Gold and Silver Purity – The Complete Guide
When buying precious metals, it is important to have an understanding of the gold purity or silver purity of the bars or coins. Why? Because a small difference in gold or silver purity can have an impact upon the overall value of the gold or silver contained in a coin or bar. And therefore the price you pay.
Also whether any GST is payable is directly down to the level of purity of the gold and silver.
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.
New: A New Zealand Debt Clock
The New Zealand Taxpayer’s Union has recently released a New Zealand Government Debt clock. It’s a simplified clock compared to the US debt clock.
The New Zealand Government debt clock shows the current government debt is approaching $98 Billion. It breaks this down to a household share. Also showing a growth of debt per day and per hour – over $5 million per hour.
The site doesn’t say where the information is sourced from. However the figure of $98 billion is actually less than what the treasuries projected debt level is as of June 30. Treasury has forecast $134,229 million ($134.2 billion) of gross sovereign-issued debt as at June 30.
Interest.co.nz also shows a debt figure of just under $132 billion.
Of course there are plenty arguing that debt doesn’t matter. See this, and this,
And this from the UK Guardian.
So Does the Debt Matter?
Debt levels rose here and just about everywhere else after the 2009 financial crisis. The world continued to turn. Debt levels are rising the world over again as governments engage in massive spending to offset the shut downs.
How much debt is too much? When might we hit the wall? Who really knows.
Our answer is to look after our own books. It’s much easier to go bankrupt as an individual than it is for a government. They can resort to funding deficits through currency printing and devaluation. We have no such option.
So instead make sure your own debt levels are affordable should interest rates (ever?!) rise. Hold a decent amount of gold and silver to offset the inevitable devaluation of the currency you use every day.
Leave the politicians to argue about the debt levels. As we can be sure they will all increase them regardless of whether tweedledum or tweedledee is in power.
After all, today money is debt. So it is simply a confidence game. And when that confidence will fail is hard to say. But fail eventually – it must. The current monetary system is overdue for a change. That doesn’t mean it has to happen tomorrow, but you should prepare as though it will.
If you have any questions about the process of buying gold and silver please get in touch…
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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