Prices and Charts
Gold Dipping Lower
NZD gold was down around 1% this past week. It broke clearly through the support line around $2300. It then fell down to backfill the “gap” in the chart around $2275 – as warned last week there was still a chance it might.
NZD gold also touched the rising trendline. So that makes this a good buying zone to build a position. As we keep saying it’s a good idea not to go “all in”. Rather buy in a series of tranches as no one knows where the bottom will be in this consolidation.
Silver Plunges 4%
Silver got hit even harder. Falling almost 4% from a week ago.
Having touched the horizontal support line at $26, it is forming a potentially bullish “flag” formation. With the RSI also approaching oversold levels, this could be a very good buying zone for silver. It’s now also retraced a full 50% of the run higher from $22.
Will an OCR Cut Send the NZ Dollar Lower?
The NZ Dollar has moved lower this week. It failed to get above 0.6450. Now it sits on the 50 day moving average. If we see another cut by the RBNZ to the Official Cash Rate this afternoon, we could see the dollar head down further still. But the 0.6200 level should be strong support.
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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NZ Housing to Silver Ratio 1968 – 2019 – How to Buy a Median Priced House in NZ Freehold, for Only $33,624…
Following on from last weeks very popular post on the NZ Housing to Gold Ratio, we’ve now done the same for silver.
Not surprisingly, the numbers show that silver has even more upside potential versus property than gold does.
Read on to see:
- What is the Housing to Silver Ratio?
- How Have NZ House Prices Varied Over the Past 50 Years When Priced in Silver?
- How Does the Ratio in NZ Compare to the USA?
- How to Buy a Median Priced House in NZ Freehold, for Only $33,624…
ILLIQUIDITY & GOLD AND SILVER IN THE END GAME
Here’s some commentary on the US Federal Reserve Repo market. Are the current goings on similar to that of the liquidity crunch that occurred in 2007 in the lead up to the 2008 crisis?
There are some similarities…
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.
As we note in this weeks feature article, using history as a guide, a purchase of less than $35,000 worth of silver could potentially be swapped for a median priced house in New Zealand.
But first you have to own the silver. Get in touch for a quote.
Give us a call if you have any questions. Or book a time online that suits you for a free bullion consultation.
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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