Experienced Trader Says Gold Bugs Are Depressed

This Week:

  • What Type of Silver Bar Should I Buy?
  • RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines
  • The Chicago Plan: The Final Assault in the War on Cash

Prices and Charts

Change from last weeks gold and silver prices

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Buy Zone for NZD Gold

Gold in New Zealand Dollars is back below the 200 day moving average line. With the RSI closing in on oversold levels, the odds favour a move back higher very soon. So will this be a “buy the dip” opportunity like we saw in late 2017?

With USD gold also closer to the longer term uptrend line around US$1250, the odds say buying the dip will prove to be a good move.

NZ Dollar Gold Chart

Higher Low for NZD Silver?

NZD Silver has fallen sharply over the last couple of weeks, although is up slightly on a week ago. With the USD silver chart touching the bottom of the wedge formation, we should see silver bounce higher from here in both currencies. Hopefully to put in another higher low as it has done since April.

We’d then like to see silver in NZ dollars have another break above the downtrend line.

NZ Dollar Silver Chart

Kiwi Dollar Close to a Move Higher?

The Kiwi dollar has continued its fall this week, down 0.64%. But now the NZD is oversold and also near recent lows. Odd favour it holding above the 0.68 mark. So we could see it head higher now. Putting a slight damper on local gold and silver prices in the short term.

NZ Dollar Chart

Unsure About Any Terms We Use When Discussing the Charts?

Check out this post if any of the terms we use when discussing the goldsilver and NZ Dollar charts are unknown to you:

Gold and Silver Technical Analysis: The Ultimate Beginners Guide

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Experienced Trader Says Gold Bugs Are Depressed

Experienced trader Jeff Clark this week reckons gold traders are depressed.

“The recent breakdown has absolutely crushed the spirits of even the most die-hard gold bulls. I know this because my email is filled with negative comments on gold.
They’re not angry comments. Nobody is ticked off about the recent action. But everybody is depressed.
Everybody is dismayed that gold stocks couldn’t rally off of the most ideal setup of the past year. The VanEck Vectors Gold Miners Fund (GDX) closed yesterday just 37 cents below where it was following the FOMC announcement last week. But folks are enormously disappointed in the action.
In fact, I’d go so far as to say the commentary is more negative than when I’ve had other positions fall 10%, 20%, 30% or even more against me. The 2% drop in the gold sector isn’t nearly as bad financially. But it’s taking an enormous emotional toll on folks who were hoping for a gold stock rally.
That tells me that gold stock traders are bailing on their trades. They can’t take the disappointment anymore. So they’re selling their stocks and moving on.
That also tells me we are close – very close – to an important intermediate-term bottom for the gold sector.I can’t say for sure when the gold sector will bottom. But I get the feeling we’re close to it.”Source.

If gold traders are depressed, silver traders must be down right suicidal!

So maybe we were a little early last December, in saying we were in the disbelief phase for silver psychology?

Silver Cycle

Nevertheless the depression phase is just before the disbelief phase which is where the rally starts from. A decent rally will have to come before too long. See:

Where Are We in the Psychology of the Silver Market Cycle?

What Type of Silver Bar Should I Buy?

The market cycle chart above says we’re in a good long term place to buy silver. But you may be wondering just what type of silver to buy?

This article will help you decide what type of silver bar to buy. It looks at silver bars vs coins, the pros and cons of various bar sizes, what are the most popular purchases & the best brands.

What Type of Silver Bar Should I Buy?

What type of silver bar?

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RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines

Here’s our report on a speech given yesterday by the deputy head of the Reserve Bank of New Zealand. He was talking central bank digital currencies. While he concluded that it was still too early for these, we’ve cast our eye around the world to see what other central banks are up to in this space.

We try to draw some conclusions about where the monetary system is heading.

RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines

RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines

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The Chicago Plan: The Final Assault in the War on Cash

Speaking of where the monetary system is heading. The idea of central bank digital currencies ties in nicely with this article. It talks about how the behind the scenes plans of the deep state may be a resurrection of what was known as the Chicago Plan from the 1930’s.

This involves the government being the sole issuer of debt money rather than money being created by banks. (This is similar to what the Swiss recently voted on).

It’s a bit of an eye opener…

The Chicago Plan: The Final Assault in the War on Cash

The Chicago Plan: The Final Assault in the War on Cash

New Gold and Silver Deals Page

After a deal on gold or silver? We have a new deals page. Check out bulk price specials on 1 kg silver coins, 100 oz silver bars and backdated gold maples.

Shop Gold and Silver Deals

So head over and see all the new products available today.

  1. Email: orders@goldsurvivalguide.co.nz
  2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
  3. or Shop Online with indicative pricing

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This Weeks Articles:

The Chicago Plan: The Final Assault in the War on Cash

Wed, 27 Jun 2018 2:24 PM NZST

The Chicago Plan_ The Final Assault in the War on CashWe’ve been covering the War on Cash for years. Earlier today we reported on what central banks are up to in regards to central bank issued digital currencies. Just the latest step in the path to a cashless society. Bill Bonner Letter coauthors Bill Bonner and Dan Denning have also been connecting the dots on this […]

The post The Chicago Plan: The Final Assault in the War on Cash appeared first on GoldSurvival Guide.

Read More…

RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines

Wed, 27 Jun 2018 2:01 PM NZST

RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the LinesLast week we reported on a bulletin from the Reserve Bank of New Zealand. It discussed how a digital currency could be issued by a central bank and what the pros and cons of this would be. See: RBNZ on Central Bank Digital Currency and Negative Interest Rates  Yesterday the Reserve Bank Deputy Governor Geoff […]

The post RBNZ: Too Early to Say for Central Bank Digital Currency – Reading Between the Lines appeared first on Gold Survival Guide.

Read More…

What Type of Silver Bar Should I Buy? – The Ultimate Guide to SilverBars

Tue, 26 Jun 2018 8:08 PM NZST

Read More…

Everything is Awesome! But Will Gold Rise After the Latest Fed Rate Hike?

Wed, 20 Jun 2018 2:09 PM NZST

Last week the US Central Bank again raised interest rates. This is in response to the US economy being so strong. Will gold rise after the latest Fed rate hike and surprise everyone again?   Gold and Previous Fed Rate Hikes The chart below shows that goldhas risen straight after each of previous US […]

The post Everything is Awesome! But Will Gold Rise After the Latest Fed Rate Hike?appeared first on Gold Survival Guide.

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

7 Reasons to Buy Gold & Silver via GoldSurvivalGuide

Today’s Prices to Buy
1oz NZ 99.99% pure gold bar
1oz NZ Gold Ingot
1kg NZ 99.9% pure silver bar 
1 Kilo NZ Silver Bar
$833 (price is per kilo for orders of 1-24 kgs)
$825 (price is per kilo only for orders of 25 kgs or more)
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1oz PAMP Suisse 99.99% pure gold bar
PAMP Lunar Goat Gold Bar
1kg PAMP 99.9% pure silver bar
PAMP Silver
1oz Canadian Gold Maple 99.99% pure gold coin
Gold Maple
$1973    (or $1953 for 5 or more Backdated Year Coins)
1oz Canadian Silver Maple 99.99% pure silver coin
(Minimum order size tube of 25 coins)

Silver Monster Box
Tube of 25 $738
Box of 500 $14,370 (2018’s)
(Fully insured and delivered)
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  • 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
  • Plus we accept Bitcoin, Bitcoin Cash, Visa and Mastercard
  • Note: For local gold and silver orders your funds are deposited into our suppliers bank account. We receive a finders fee direct from them. Pricing is as good or sometimes even better than if you went direct.

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We look forward to hearing from you soon.

Have a golden week!

David (and Glenn)
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.

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