Prices and Charts
NZD Gold Sitting on the Uptrend Line Again
Gold in NZ dollars was down $26 from a week ago. It is once again sitting just above the uptrend line. We’re still looking for a move back towards the high of the year at $3050. Maybe we’ll see it begin during the rest of December?
While in US dollar terms gold is up $20 from 7 days ago. It got above the key 200 day moving average (MA) but has pulled back from there now. Can it now put in a higher low around $1750ish?
NZD Silver up 2%
Silver in NZ dollars outperformed gold this week. Rising 72 cents or over 2%. NZD silver made another higher low around $34 and then moved higher to touch the downtrend line again. Now we’re watching to see if it can break above that line in the next move up.
While in US terms silver was up a hefty 4%. It put in a higher high above $23, but has pulled back a little since then. We’ll possibly see a bounce up from around the 200 day MA at $21.40.
New Zealand Dollar Jumps 2% Higher
The Kiwi dollar made a hefty 127 basis point move up from 7 days prior. This 2% jump took the NZ dollar above the 200 day MA, but it has pulled back since then. We’d expect a further pullback maybe down to 0.62 or even lower perhaps?
But as we point out in this week’s feature article, our guess is that in the longer term we have seen a switch from a strong US dollar to a weakening USD. So conversely we’d also expect the Kiwi to continue to strengthen in the longer term. Just with a pull back first.
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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Trend Change: USD Weakening from Here? Impact on NZD Gold?
The US Dollar has been the best performing currency over the past couple of years. However it seems that may be about to change.
In this week’s feature article we discuss how:
- Longer Term – The USD May Have Changed Course
- So What Does This Mean for the NZD?
- What Will This Mean For Gold and Silver in NZ Dollar Terms?
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.
Falling Demand, Falling Silver Coin Margins, Time to Buy?
There has been a noticeable very sharp fall in demand for gold and silver in the past month or so. As a result in the last week we have also seen a sharp fall in some silver coin premiums.
Backdated silver maples are available again for the first time in a long while. As we type these backdated maples are over $400 cheaper per 500 mint box than the 2022 silver maples.
So with silver pulling back a little after its recent rise, this could make now a very good time to be buying.
In the past this lack of demand has also been a very good contrarian buying signal. We have a feeling gold and silver prices may see a further steady rise through the rest of December. Why? Because this is what often happens. When the majority of people aren’t buying, this is likely because they expect the price to go lower. Instead just the opposite often takes place.
Only time will tell if this contrarian indicator proves to be true. But if you want to go against the herd then now is the time to do it.
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- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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