Fund Manager: Are We At A Turning Point for Stock Markets?

FUND MANAGER

Prices and Charts

Change from last weeks gold and silver prices

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NZD Gold Drops Below Uptrend Line

Gold in New Zealand dollars was down $41 from a week ago. Falling below the blue uptrend line that had been strong support all year. It dropped to the next buying zone we had said to watch for – $2800. If that doesn’t hold then the next support would be at the 200 day moving average of $2750. Below that is horizontal support at $2700.

NZ Dollar Gold Chart

NZD Silver Falls Less Than Gold

NZD silver was down just over 1%, so less than gold this week. Having fallen through the blue uptrend line the previous week, silver is once again back down to the $31 support line. So we are still watching to see if it can make a triple bottom around there.

Otherwise the blue shaded support zone down at $30 which dates back to 2016 would be the next area to watch. The RSI remains oversold below 30 (see the indicator at the top of the chart). So we are still expecting a bounce from somewhere near here.

NZ Dollar Silver Chart

NZ Dollar Hits 26 Month Low

The New Zealand dollar is up a little today. But for the week it is down 46 basis points having reached a new 26 month low a couple of days ago. We’d expect a bounce soon too. But the Kiwi is clearly stuck in a downtrend.

NZ Dollar Chart

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:

Gold and Silver Technical Analysis: The Ultimate Beginners Guide

Continues below


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Why is Gold More Valuable Than “Worthless Paper”?

Whether you’re an old hand at the matters of gold, silver and what is money, or a real newbie, you’ll probably have something in common with a frustrated reader.  He admitted that all the conflicting information about how the world monetary system works was “doing [his] head in!”.  Today we share our thoughts on why gold is more valuable than paper including our answers to:

  • The Accusation That You Can’t Eat Gold
  • What About Governments Changing the Rules on Gold?


Why is Gold More Valuable Than “Worthless Paper”?

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RBNZ Hikes by 0.50% Again

The RBNZ unsurprisingly hiked its key interest rate by 0.50% again today. This was widely expected and we haven’t seen any moves in markets as a result of this.

This is despite the fact that: “Almost three-quarters of economic commentators surveyed in a new poll expect New Zealand to enter a recession before 2025.”
Source.

But the RBNZ are focused on fighting the inflation that continues to rage. They were late to start and they’ll likely be late to reverse too.

Fund Manager: Are We At A Turning Point for Stock Markets?

Meanwhile  this article from an NZ fund manager seems to be the prevailing opinion. That is that perhaps share markets are close to bottoming out.

“Devon Funds head of retail Greg Smith asks if high levels of pessimism, high cash balances and depressed market multiples mean we are almost at the end of this year’s volatility?”

It seems to us that the majority still thinks this is just a correction. Or a buy the dip opportunity.

Rather than a change in trend that could last for many years. We might currently be in a short term uptrend for stock markets. Because nothing falls in a straight line. But our thinking remains that we are now in a bear market that could run for some time yet.

This doesn’t necessarily mean we have to be out of the markets altogether. But we’d be wise to be sure to have enough financial insurance to balance out the potential fall in other markets.

Because despite the recent falls, gold in New Zealand dollars remains well up for 2022. Do you have enough cover?

Please get in touch if you have any questions:

  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:

Why is Gold More Valuable Than “Worthless Paper”?

Wed, 13 Jul 2022 11:30 AM NZST

Whether you’re an old hand at the matters of gold, silver and what is money, or a real newbie, you’ll probably have something in common with a frustrated reader.  He admitted that all the conflicting information about how the world monetary system works was “doing [his] head in!”.  Here is his email and below it […]

The post Why is Gold More Valuable Than “Worthless Paper”? appeared first on Gold Survival Guide.

Read More…

Gold Confiscation | Could it Happen in New Zealand Today?

Wed, 6 Jul 2022 12:45 PM NZST

Covid responses have seen the government encroaching more and more into everyday life, both here and across the planet. As a result we have more people getting concerned about the potential for gold confiscation. In various gold and silver newsletters we read, we’ve seen a few queries on the topic of confiscation of gold in […]

The post Gold Confiscation | Could it Happen in New Zealand Today? appeared first on Gold Survival Guide.

Read More…

Everything is Falling – Including Gold

Wed, 6 Jul 2022 9:24 AM NZST

Everything-is-fallingPrices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2751 Buying Back 1kg NZ Silver 999 Purity $960 Everything is Falling – Including Gold Look around and just about every sector of the financial world is falling. Stocks, currencies (except the […]

The post Everything is Falling – Including Gold appeared first on Gold Survival Guide.

Read More…

How Much Gold Does the Reserve Bank of New Zealand Have in 2022?

Tue, 5 Jul 2022 9:37 PM NZST

We’ve had the odd query from other New Zealanders asking, “how much gold does the Reserve ‎Bank of New Zealand (RBNZ) actually have?”. Our guess is people are probably asking because since the financial crisis net gold purchases by global central banks have switched from negative (i.e. they were selling), to positive (i.e. they are […]

The post How Much Gold Does the Reserve Bank of New Zealand Have in 2022? 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
$2,928.70
1kg Pure Silver bar
1 Kilo NZ Silver Bar
Local silver bar $1,106.70
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1kg “Scottsdale Gold” Bar 99.99% with unique serial number

$93,707.88
1oz ABC Bullion Gold Minted Bar
1oz ABC gold bar
$2,965.70  (Not on website – email to order)
1oz Canadian Gold Maple 99.99% pure gold coin (2020)
Gold Maple
$3,031.90 (in stock)
1 oz RCM Silver Maple Coin
(Minimum order size tube of 25 coins)

Silver Monster Box
Tube of 25: $1005.50 (pick up) (Not due for around 4 weeks)
Box of 500:

$20,115.79 (Pre-order)
Including shipping/insurance 6/7 weeks delivery

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Note:

  • 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 BTC, BCH, Visa and Mastercard

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We look forward to hearing from you soon.

Have a golden week!

David (and Glenn)
GoldSurvivalGuide.co.nz
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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