Gold Survival Gold Article Updates
Oct. 18, 2013
This week:
- Live from the Gold Symposium in Sydney
- Gold and Silver in NZ Dollars
We’re late getting our usual weekly email out as we’ve spent the past 2 days at the Gold Symposium in Sydney (we fly back late this afternoon).
So we haven’t spent too much time watching the newswires although a bit has been going on. The debt ceiling can has been gently kicked down the road for another few months anyway (or rather as Jeff Berwick from The Dollar Vigilante preferred to call it the Debt Target – because they always hit it! ).
The precious metals prices have bounced up quite sharply on this news. Who knows why exactly? Perhaps because buyers believe an increase in the debt ceiling will mean ongoing currency devaluation will continue to be the norm?
The wifi at the hotel seems rather slow so we’re keeping this brief today in the interests of actually getting something out to you this week.
Live from the Gold Symposium in Sydney
There was quite a list of speakers at the Gold Symposium including Rick Rule from Sprott Asset Management who was very entertaining and as mentioned above Jeff Berwick of Dollar Vigilante fame or perhaps rather infamy.
John Butler gave an excellent presentation sharing his view as to how gold will likely return to the centre of the monetary universe. And however grudgingly the various major economies of the world may be to allow that to happen, they will likely be forced to do it as the lesser of 2 evils. The other option being a complete collapse.
John Butler will also be in Auckland on Monday and Wellington on Tuesday (go here for details on how you can still get tickets to see him)
John wasn’t the only speaker to think an agreed revaluation of gold to a much higher rate is the most likely end game. That is, rather than a complete systemic collapse, the powers that be will eventually have their hand forced and an overnight revaluation will occur. Our friend Louis Boulanger also thought this the most likely outcome.
Likewise Chris Powell of GATA also shared this as one of 3 possible end game scenarios. Chris gave some quite cutting remarks aimed at the worlds gold miners saying most didn’t understand the monetary nature of the product they dug up and were doing little to nothing to combat the “blatant” manipulation going on in the gold market.
The manipulation theme was quite strong this year with David Evans of GoldNerds giving his interpretation as to how and why the price plunged back in April and the bullion banks were at the heart of it in his opinion. But there was a strong counter attack from Sean Russo of Noah’s Rule. Sean outlined how he worked for Rothschild’s for 20 years who are meant to be the “worst of them” and he never saw any evidence of any manipulation while there.
Anyhow, we’ll have some fuller reports to come over the next week or 2 on what we’ve heard over the last 2 days so keep an eye on the website for those and of course for our weekly email in the coming weeks.
Gold and Silver in NZ Dollars
As mentioned gold and silver have bounced back strongly over the past couple of days since the debt ceiling fiasco/sideshow/distraction was “resolved”.
However they are both still down from our email last week. Gold last week was $1593; today $1558.66, so down 2.15%.
For gold in NZ dollar terms, the reverse head and shoulders chart pattern that appeared to be playing out seems to have failed, with the price briefly dipping lower than the June lows yesterday. See the chart below.
In US dollars the gold price is still well above the June lows ($1320 versus $1199, so it is once again the strengthening kiwi dollar holding gold down.
So where to from here?
It’s hard to deny that gold in NZ dollar terms seems to remain in a downtrend for now. It will be interesting to see whether the US dollar gold price can continue to hold above the June closing low of $1199 in the coming weeks as this will probably be what determines whether gold in NZ dollars goes any lower.
Last week silver in NZ dollars was $26.94 versus today at $25.87, so is down 3.97%.
Sentiment remains incredibly weak for precious metals, perhaps shown by how far down the attendance was at the Symposium compared to last year. Our guess would be barely 40% of the audience size.
Rick Rule perhaps summed it up the best in that while none of the fundamentals for purchasing gold and silver have changed since 2009/10, it is only the price that is different.
“So you’ve been through the pain. It might be worth hanging around for the gain.”
For anyone believing the fundamentals still exist for removing some wealth from the system, the price for gold is now as low as it was in June. It only stayed there briefly back then and appears to be bouncing higher again now. So a good chance to either average down or get your first tranche if you are yet to purchase.
While silver may not be at the June lows it is also at a pretty good level for grabbing a slab. If you are so inclined then get in touch. We don’t leave Sydney until after 5pm NZ time so we are “open” as normal:
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
Have a golden week!
Glenn (and David)
Ph: 0800 888 465
From outside NZ: +64 9 281 3898
email: orders@goldsurvivalguide.co.nz
This Weeks Articles:
| Why Bill Gross thinks interest rates will stay low |
 2013-10-09 01:32:15-04Gold Survival Gold Article Updates Oct. 9, 2013 This Week: What Good is a Bar of Gold When the Shelves are Empty? More mumbo jumbo from the Central Bankers. Why Bill Gross thinks interest rates will stay low It doesn’t seem like gold has done much over the past week, however it is actually […]read more… |
| What Ron Paul Told Me About the End of Dollar Hegemony |
 2013-10-10 23:33:09-04Ron Paul is the rarest of breeds, a politician who actually seems to follow his ideals, vote accordingly and keep his integrity intact. Another unusual trait for a politician that he has, is an understanding of real world economics. Shown in particular by the 2006 speech referenced in this piece, the ultimate conclusion to which […]read more… |
| Prof Fekete on Hyper-Deflation |
 2013-10-11 00:03:51-04In his second appearance on the Keiser Report, Professor Antal E. Fekete of FeketeResearch.com discussess Fed induced hyper-deflation and why he believes the American Austrians were wrong to predict that quantitative easing would cause inflation. (His first appearance can be seen here.) The interview begins at 13:16 min (it should start at that point) and […]read more… |
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.
Today’s Spot Prices
| Spot Gold | |
| NZ $1558.66/ oz | US $1320.65/ oz |
| Spot Silver | |
| NZ $25.87/ ozNZ $831.83/ kg | US $21.92/ ozUS $704.81/ kg |
7 Reasons to Buy Gold & Silver via GoldSurvivalGuide
Today’s Prices to Buy
1oz NZ 99.99% pure gold bar
1kg NZ 99.9% pure silver bar
(price is per kilo for orders of 1-4 kgs)
$903.86
(price is per kilo only for orders of 5 kgs or more)
1oz Canadian Gold Maple 99.99% pure gold coin
(fully insured and delivered)
Note:
– 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: Your funds are deposited into our suppliers bank account only. We receive a finders fee direct from them only.
2. To simplify the process of purchasing physical gold and silver bullion in NZ – particularly for first time buyers.
Copyright © 2011 Gold Survival Guide. All Rights Reserved.
Pingback: Gold Prices | Gold Investing Guide Gold Market Prognostications from PAMP’s Head of Sales