Gold and Silver Again Bottom in December – What’s Next?

• Gold and Silver Again Bottom in December
• The Next Great Bull Market in Gold Has Begun
• Is it Time to Trade Your Gold in for Bitcoin?

Prices and Charts

Year in Review Coming Soon

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:

Gold and Silver Technical Analysis: The Ultimate Beginners Guide

Continues below

Your Questions Wanted

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.

1. Email: orders@goldsurvivalguide.co.nz
2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
3. or Online order form with indicative pricing

1. Email: orders@goldsurvivalguide.co.nz
2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
3. or Online order form with indicative pricing

• 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.
  

1. To demystify the concept of protecting and increasing ones wealth through owning gold and silver in the current turbulent economic environment.
2. To simplify the process of purchasing physical gold and silver bullion in NZ – particularly for first time buyers.

Have a golden week!

David (and Glenn)
GoldSurvivalGuide.co.nz
Ph: 0800 888 465
From outside NZ: +64 9 281 3898
email: orders@goldsurvivalguide.co.nz