Prices and Charts
NZD Gold Back Near Recent High
Gold in NZ dollars is once again back near the recent almost 6 year high. Gold is proving to be very resilient. Since the run higher began in December last year, any pull back has been quite minor.
But we’d still like to see gold in NZ dollars break more decisively higher.
The USD gold price (lower half of above chart) moved to a 10 month high today. It is also not far from multi year highs around $1375. It looks likely to test that level before too long. So the odds favour our NZD gold price also moving a bit higher yet too.
Because the Kiwi dollar looks to be continuing to trade in a sideways range. As shown below…
So the main driver of our local gold price is likely to be the USD gold price. Not the Kiwi dollar.
And speaking of the USD gold price…
Here’s an excellent post we read earlier today. It lays out why gold has been quietly rising and why it might surprise and actually continue to rise further from here:
GOLD: GUESS WHO’S BUYING?
NZD silver is yet again bumping up against the multiyear downtrend line. For the third time this year in fact. So silver looks to be building for a crack at a breakout 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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If the US Dollar or SDR Was Linked to Gold, How Would This Affect New Zealand?
This is a question on more than one readers mind it would seem.
“What is the likely impact on the NZ economy of a USD step by step fall – eventually a dissolution and replacement by the (partially Gold backed?) SDR? (Given that I understand NZ has NO Gold reserves) So we’d be at the mercy of Central Banks….has this been covered?”
It sort of has. But we’ve added to it to incorporate some comments on the SDR too:
- How a new gold standard would affect New Zealand
- Why New Zealand couldn’t peg it’s dollar to gold
- How likely is the US Dollar to remain the global reserve currency?
- What the Answer is for New Zealanders?
Even More on the Issues With Australia’s Gold Holdings
At the end of last year we shared some disturbing information on the one and only audit of Australia’s gold reserves.
RT has picked up on the story this week:
Hey UK! It’s not just Venezuela, what happened to Australia’s gold?
You can also read the Extended Q & A on the topic of Australia’s gold at the Bank of England with Ronan Manly at Bullionstar.
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 “Boltholes”to Escape a Financial Volcanic Eruption. Plus Bonds vs Gold
As we mentioned last week Dan Denning of the Bill Bonner Letter is on a scouting trip to New Zealand. Reporting back to their (mainly American) readership on the benefits of a “bolthole” down under.
We thought it worth sharing Dan’s report on his trip to the beaches north of Auckland – an area we are very familiar with ourselves.
He reports on where a number of Bill Bonner Letter readers are living and what they are doing to make themselves more self sufficient than the average person. Not because they all think the end of the world is coming. But simply because we are overdue for another “financial volcanic eruption” as he puts it.
We know a number of our readers are also doing what they can to get closer to the land, live more self sufficiently and be better prepared for come what may. A lot of the rationale for many people is is simply about having a simpler less stressful life. Not necessarily preparing for doomsday!
So we’d love to hear what you might be doing. Drop us an email (or fill in the contact form here) and let us know what you have in the way of self sufficient preparation.
Then read on for Dan’s thoughts not just on New Zealand, but also on the potential for inflation and the gold versus bonds argument…
As Dan Denning points out in the above article:
“While the debt builds and the deficits grow, the financial system becomes more complex and more fragile. The real economy weakens. And the instability in a financialized system can mean sudden and violent crashes. That’s why we continue to buy gold.”
If you need to add to or start your store of wealth then please get in touch.
- Email: firstname.lastname@example.org
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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