Prices and Charts
NZD Gold Up Care of a Weaker Kiwi Dollar
NZD gold has bounced back a little this week, although solely due to the New Zealand dollar continuing to weaken. After bouncing up off the blue downtrend line, NZD Gold is up 0.80% from a week ago. But down over the past couple of days.
We could see a return to the downtrend line, or even a dip down to the 200 day moving average just below that line.
NZD Silver Down 1%
Conversely New Zealand Dollar silver was down over 1% from 7 days prior. Continuing the fall of the week previous and now sitting smidgen under the 50 day moving average. We are watching for a higher low to form around the current level. Or maybe a dip down to the blue horizontal support line at $33.
New Zealand Dollar Down 1.60%
As noted already the Kiwi dollar weakened sharply the past week, aiding local precious metals prices. It has been quite a fall. After reaching 0.7200 in October, the NZ dollar is now right at the bottom of the current sideways trading pattern dipping under 0.6800 yesterday.
The odds are that could well be the bottom for the current fall. As the Kiwi dollar is now sitting at the bottom of the sideways trading range it has been in all year. So we could expect it to turn back up from here.
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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Should I Buy Gold or Silver in 2021? 7 Factors to Consider in Gold vs Silver
Should I buy gold or silver is probably the most common question we get from first time buyers of precious metals. Lately this question has been popping up a lot.
So this week we cover it in detail. Outlining 7 factors to take into consideration in making your decision, highlighting whether gold or silver is the winner in each case. If you don’t have time to read you can always skim through the “Deciding between gold or silver tips”
1. Gold or Silver as a Crisis Hedge
4. Mark Ups or Margins Over Spot Price
6. Ability to be Borrowed Against
7. Potential Upside
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 Price Forecast: What Experts Predict
Also this week we have a range of gold price predictions from various experts across the planet. Some expect the price to go up, others down.
So check that out and see what the forecasts are for both next year and also out to a 5 year horizon.
Lack of Silver Coins and Ongoing Dispatch Delays
In case you missed it at the start of this email, there are not too many silver coin options currently. This is due to an increase in demand combined with international shipping delays. Also due to many world mints switching production over to their 2022 coins. Many are waiting on blanks to be able to continue with production. So lower stock, heightened demand and shipping delays are combining to cause delays.
But in smaller denominations of silver we do still have 5oz and 10oz bars as an option. These also have the advantage of having lower premiums above spot price. These are in stock but there are still delays of around 3 weeks due to backlogs and courier delays.
When Auckland eases Covid restrictions and the courier system settles, we expect these delays to be eliminated.
Thank you for your continued support and patience.
Your orders remain insured and stored within the vaulting system until they are collected or dispatched.
Please get in contact if you’d like a quote or have any questions:
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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