Prices and Charts
Gold Dipping But Holding Above Uptrend Line
Gold in New Zealand dollars dropped $45 from last week to $5110. Retesting the breakout above the green uptrend line. If it dips under that the next buy zones are:
- $5000
- 50-day moving average (MA) $4981
- Blue uptrend line $4900
- 200 day MA $4400ish
While in US dollars gold has held pretty steady. Down just $3 to US$2915 but still above our first buyzone at US$2900. Support areas are:
- US$2800
- $2700
- 200-day MA $2614
But Silver Up Strongly
NZD silver has risen up off our first buy zone at the green up trend line. It was up 97 cents or 1.7% from last week to $57.58. Can it finally break above $58? If it dips below the uptrend line, then $54 is the next buy zone. Then the 200 day MA at $52.
USD silver rose over 2.5% to $32.85. It continues to consolidate clearly above the 200 day MA. If it can clearly break $33 then the next stop is $35.
The Kiwi dollar was up 45 basis points from last week to 0.5705. It looks to have made a higher low above the double bottom at 0.5500. Can it now test the overhead resistance line above 0.5800?
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:
Continues below
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How High Could Silver Go? The Data Might Surprise You
Silver is rising in 2025—but how high could it really go?.
This week, we break down expert predictions, historical trends, and key valuation models to estimate silver’s future potential. From the gold-to-silver ratio,, to inflation-adjusted highs, and money supply, we explore whether silver is still undervalued and just how much upside it could have.
Could silver surprise investors with a massive breakout? The numbers may shock you.
👉 Read the full analysis below.
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RBNZ Head Adrian Orr Resignation: Good, Bad or Pointless?
Orr still had 3 years left in his contract so it was certainly a surprise exit. Plus he took leave and won’t be back at all. So maybe he jumped before he was pushed? He was hailed as a maverick. Along with “infusing RBNZ with Maori concepts” and “modernised operations” and taking climate change into account. From the various media articles we’ve read there has been a very mixed opinion of his performance.
Radio NZ asked: “What got more expensive under Reserve Bank Governor Adrian Orr’s watch?”
That should have been a short article to write. Only answer needed: “Everything!”
To us, just like the government, he massively overreacted to Covid, and then was very slow to temper things down. As a result we saw massive inflation of the money supply with a corresponding increase in first asset prices and then everyday consumer goods. Many would argue he then cut rates too slowly and not enough.
But the real issue of course is the fact that we rely upon one guy or even a board of guys and gals to decide on the “price” of our currency, a.k.a. the interest rate!
The only good central banker is… a redundant one with no roles to fill.
Mr market is the best “person” to decide this. So how long will we wait until the end of central banks? Is a US Federal Reserve audit on the cards as part of Trump’s shake up? Maybe even its abolition?
Back home here in New Zealand the stock market has basically gone sideways since 2020. It’s still below the 2020 high and might be following US markets lower.
An NZ DOGE?
Speaking of Trump shake ups, we spotted this news item during the week:
“A “hackathon” event to be held this month at the University of Auckland will ask participants to design “DOGE NZ”, a government expenditure tracking system. The task, or “problem statement” to design DOGE NZ was set by Callaghan Innovation”
Source.
There had already been signs of similar DOGE-like movements popping up elsewhere. Last month:
“BrewDog’s James Watt launches ‘Shadow Doge’ to take on UK Government”
It seems actions in the USA will either prompt other governments to follow suit. Or their citizens will force them to.
Stock Market Falls Continue – Gold Holding Up Well
While gold and silver are holding up well, stock Markets continue to fall. Tavi Costa points out:
“Critical break
Nasdaq already well below its 200 dma.
The tech and consumer discretionary sectors appear to be driving the decline, but I expect the other parts of the market to follow suit.
JUST IN 🚨: S&P 500 will close below its 200D moving average for the first time since November 2023 📉”
The S&P500 is oversold and likely due a bounce soon. But it seems likely it will be a dead cat bounce. That is after it sucks people back in there will be more stock market falls to follow.
So this might only be the start of this breakout. Where gold will outperform stocks for some time to come.
Gold/S&P 500 ratio breaks out:
Source
As more people slowly wake up to the idea that the dream run of the stock market might be over, we will likely see a rotation into gold, and also silver.
Do you have enough gold to balance out your other investments? Meanwhile as per this week’s feature article silver might be the one to outperform in the coming years.
Please get in contact for a gold or silver quote, or if you have any questions:
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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