Happy New Year! May it be a healthy and prosperous one for you!
Like much of New Zealand we’re easing back into it this week. So we’ll keep it short so you can get back to the BBQ or head for a swim in whatever body of water you prefer.
Next week we’ll have our annual year in review article so stay tuned for that.
Gold and Silver Again Bottom in December
As we were expecting and pointed out repeatedly towards the end of last year, gold and silver both did bottom in December, just like they did at the end of 2016.
Gold in NZ Dollars rallied strongly over the holiday break even with the headwind of an also strengthening NZ Dollar.
After such a strong run gold has been pulling back over the past few days. It has pared its gains a little but is still up sharply from early December.
From here we can expect a consolidation. But then we’d also expect to see higher prices in the coming months too. And a move back up to the next resistance level around $1900.
NZD silver also jumped higher over the holidays. But like gold it has pulled back in recent days. We’d expect to see it challenge the recent high above $25 in the next month or 2 also.
Unlike NZD gold and silver (which are at neutral levels), the NZ Dollar is seriously overbought – above 70 on the RSI. The Kiwi is also bumping along the upper Bollinger band and touching the blue downtrend line.
So odds favour a decent pullback from here. Our guess is the Kiwi remains in a longer term downtrend line and could head back to the 0.68 level again (more on that in our year in review and guesses for next year).
Unsure About Any Terms We Use When Discussing the Charts?
Remember to check out this post if any of the terms we use when discussing the gold, silver and NZ Dollar charts are unknown to you:
Finally Remember, if you’ve got specific question, be sure to send it in to be in the running for a 1oz silver coin.
Buy Now Before Seasonal Price Rises
Check out the couple of articles for some holiday (or post holiday) reading this week.
Our guess is we see a repeat of the past couple of years and the next few months could see higher prices ahead for both gold and silver. Making now a good time to buy before the seasonally stronger months to come. See the chart below for visual proof.
This gives some thoughts as to what you should have first before buying the likes of bitcoin or junior gold and silver mining shares. Plus how gold and commodities have reached extreme undervaluation levels… Is it Time to Trade Your Gold in for Bitcoin? From Justin Brill, Editor, Stansberry Digest: Originally posted at The Crux Is […]
This latest article from Jim Rickards lays out his expected chronology for the next great bull market in gold. Very interestingly his timeline is not dissimilar to one we wrote about recently in Gold Cycles vs Property Cycles: When Will Gold Reach Peak Valuation? He looks at the somewhat counterintuitive relationship between interest rate increases and gold […]
This Week: Are You Ready For The Next Rally? China is about to shock the gold market Bitcoin – Plan Your Exit Strategy Now – Maybe With Gold How Bitcoin Might Affect the NZ Dollar Reader Question: Would Gold and Silver Get Cheaper in NZ if the US Dollar Collapsed? Prices and Charts Looking […]
1kg NZ 99.9% pure silver bar $864 (price is per kilo for orders of 1-4 kgs) $848 (price is per kilo only for orders of 5 kgs or more)
1oz PAMP Suisse 99.99% pure gold bar $1932
1kg PAMP 99.9% pure silver bar $892
1oz Canadian Gold Maple 99.99% pure gold coin $1969 (or $1949 for 5 or more Backdated Year Coins)
1oz Canadian Silver Maple 99.99% pure silver coin
(Minimum order size tube of 25 coins) Tube of 25 $777 Box of 500 $14,350 (2017’s) or $14,150 (backdated years) (Fully insured and delivered)
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
Note: For local gold and silver orders your funds are deposited into our suppliers bank account. We receive a finders fee direct from them. Pricing is as good or sometimes even better than if you went direct.
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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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