Prices and Charts
Gold – Still Sideways
Gold in New Zealand dollars is pretty much unchanged from last week. Down just 29 cents per ounce.
So Groundhog day continues with prices meandering sideways. As we said last week this boring sideways action is likely a positive thing. Getting rid of heightened interest in gold without doing too much damage to the price.
As a result, the local NZ gold price remains in the first of our highlighted buy zones. So no guarantees we will revisit either of the other two.
Silver – Pretty Much Sideways Too
Well, actually silver was up about 3/4’s of a percent. But on the chart it looks like sideways action too. Albeit with the chance of a pennant or flag pattern forming. If so this formation will mean silver will have to break out before too long. But which direction is the big question still?
NZ Dollar – Up But Still Unclear if the Downtrend Has Been Broken
The Kiwi dollar was up over 1.5% this week. However it’s still unclear whether the downtrend from 2014 has been clearly broken yet. The price continues to hover around this line.
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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Is the Mainstream in New Zealand “Waking Up” to the Benefits of Owning Gold?
Over the past few weeks our scans of the mainstream media sites have shown a number of articles on gold.
We could take this to be a bad sign. In the past, we have often seen these articles on gold at peaks in the gold price. So they could be indicating that the price is due to take a tumble.
However these articles are appearing during a consolidation in the price of gold. Not right at the peak.
So in this week’s feature article we wonder whether the mainstream – including institutional investors – are starting to wake up to the benefits of owning gold?
We include an interesting table that compares gold’s 2020 performance in New Zealand dollars with other asset classes both locally and offshore…
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.
Gold and Silver, Up Down, Sideways and UP
Do you find terms like inflation and deflation confusing? Economist speak seems designed to confuse the layperson.
So this short article makes it easy to understand how the modern economy works by comparing it to…
Gold is a Composting Toilet?
To continue with the toilet analogy, then whether the “economy” might be blocked or overflowing, gold and silver are a bit like owning your own composting toilet.
You don’t have to worry what the main toilet is doing. You have something that is not only completely separate from the plumbing. But it is also in another room or building altogether too!
Have you got your composting toilet yet?
- Email: email@example.com
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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