Prices and Charts
A Higher Low for NZD Gold?
Gold in New Zealand dollars looks like it has made a higher low this past week. After back filling the gap up move, it has now boosted higher by 2.5% in the past 7 days.
So it’s looking more and more likely that a bottom is in and major wave (C) up has now begun.
NZD Silver Also a Higher Low?
Silver in NZ dollars was up a little under 4% for the past week. It too looks to have made a higher low after holding above the horizontal support line at $34. Now we are on the lookout for silver to get above the 50 day moving average (MA) at $36.64.
NZD Bouncing Back 1% After Recent Plunge
After the recent plunge, the New Zealand dollar is up 1% from 7 days ago. However it is still sharply below the rising uptrend line. Now we wait to see if the uptrend is over or is this just a higher low?
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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Gold Backing to Debt Ratio: A Reset Like in 1934 and 1980 Would Mean $28,000 Gold
A couple of weeks ago we compared all the gold ever mined in the world to global debt levels. We pointed out last week that:
“…all the gold in the world ever mined is based upon an estimate only. Whereas US govt gold reserves are an actual figure (assuming they do still have it all of course!). So that would be a better figure to base any debt to gold ratio calculations off.”
So this week we have the latest US debt levels compared to the value of US gold reserves for a more accurate estimate.
Here’s what’s covered:
- Gold Backing to US Debt Ratio “Reset” in 1934
- Gold Backing to US Debt Ratio “Reset” in 1980
- What Price Would Gold Need to Have Reached in 2020 to Match the 26% Gold Backing to Debt Ratio in 1934 and 1980?
- What Price Would Gold Need to Be Today to Match the 26% Gold Backing to Debt Ratio in 1934 and 1980?
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.
Question of the Month Silver Coin Winner
Congratulations to Kaylynne. Winner of our question of the month for March with:
“How many US dollars is all the gold in the world worth?”
Here is our answer in case you missed it a couple of weeks ago:
How Much is All the Gold in the World Worth?
Gold or Silver? Buy Higher or Lower?
Here’s another question from a new reader…
“Hi there, is it best to buy silver or gold at the moment? And also is it better to buy when the price is lower rather than higher? Sorry, I am a newbie at this.”
It might be worth having a read of this article: Should I Buy Gold or Silver in 2020? 7 Factors to Consider in Gold vs Silver
Although it was last updated in October it still reads pretty well now.
The gold to silver ratio mentioned there is now down into the mid 60’s. So it has just entered the range where we personally think it’s good to get a bit of both.
As far as when to buy, then yes, ideally buy when the price is lower rather than higher. Even more ideally buy when the price has bottomed out and is beginning to move higher. Of course the trouble here is we don’t really know this until after the fact. But if you’ve been reading our daily alerts (sign up here if you don’t already receive them), you’ll see we think the odds are pretty good that gold has recently bottomed out.
So in our opinion now is likely a good long term buying opportunity. But we don’t give advice, just share our opinions – for what that is worth!
If you’ve been sitting on the sidelines waiting to buy, then now is likely a lower risk time to purchase gold and silver. As the charts at the start of today’s update show, it’s likely that both metals have recently bottomed out.
Please get in touch if you’d like a no obligation quote to see how the buying process works.
Silver Maple, Krugerrand and Britannia 1 oz silver coins are now back in stock.
- 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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