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
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.
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.
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.
Unsure About Any Terms We Use When Discussing 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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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?
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.
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.
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.
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…
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.
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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We’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 […]
Last 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 […]
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