Prices and Charts
Another Dip – Bottom Getting Close?
NZD Gold was down just over 2% this past week. Helped out a little by a weakening NZ dollar.
Overnight NZD gold did dip down to the recent low near $2330. But has since bounced higher.
It’s holding up surprisingly well here. Perhaps we won’t see it head too much lower?
Silver Down 6%
Meanwhile silver really dropped. Down 6% this week. Like gold, silver also touched the 50 day moving average overnight before also bouncing back.
In NZ dollars silver is getting close to a 50% retracement of the strong run higher. While in US Dollars silver actually made the full 50% pull back overnight.
In bull markets a 50% retracement is a common place to retreat to. Especially after a strong move higher. So there is a decent chance of silver bottoming out here.
Picking bottoms is notoriously difficult to do.
So if you’re tempted to wait for a further fall, bear that in mind. Consider taking a position around these levels at least.
NZ Dollar Even Weaker
The New Zealand Dollar is sitting right on the lows from back in 2015. It’s not shown on the chart below, but if the Kiwi breaks this key level, then we risk seeing a move down towards the 2009 lows around 0.5000.
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
—– OFFER FROM OUR SISTER COMPANY: Emergency Food NZ —–
Preparation also means having basic supplies on hand.
Are you prepared for when the shelves are bare?
For just $240 you can have a 56 serving emergency food supply.
Free Shipping NZ Wide.
Measuring Beer in Gold
We had a question this week about an update of the NZ housing to gold ratio.
So here it is. Read on to see how that ratio has broken lower and where it might go from here.
Plus we have an all new Ratio to check out: The Beer to Gold ratio!
See how the price of beer has varied over the years when measured in gold. This could be another useful signal to track to see when gold finally reaches full valuation. Hint: We are some way off yet…
Update: RBNZ Bank Financial Strength Dashboard – How Helpful is it?
Martin North makes an excellent point in a video we included in this updated article on the RBNZ Bank Financial Strength Dashboard…
Your bank “deposits are unsecured loans to the bank”.
And so…
“receiving almost no interest on deposits, or worse still, going into negative interest rates, and having to pay to keep money in the bank if rates do go negative, is put into a whole new light”.
Indeed. One of the reasons people argue against holding gold or silver is the “cost of carry”. You need to store them somewhere. But if you’re getting next to nothing (or worse) in the bank, then gold and silver look even more attractive.
Of course in today’s society you still need to pick a bank. So can the RBNZ dashboard help with this?…
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.
The New Zealand Dollar could go either way at the moment. As we pointed out recently, “If the 0.62 to 0.60 area is broken, there is no major support until the 2009 lows at 0.50!”
At the same time offshore gold and silver prices may well be trying to forge a bottom here. So right now is a reasonably low risk entry point. An entry point that also gives you some protection if the Kiwi were to weaken even further in the weeks and months ahead.
Give us a call. Or book a time online that suits you for a free bullion consultation.
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
— Prepared for the unexpected? —
Never worry about safe drinking water for you or your family again…
The Berkey Gravity Water Filter has been tried and tested in the harshest conditions. Time and again proven to be effective in providing safe drinking water all over the globe.
This filter will provide you and your family with over 22,700 litres of safe drinking water. It’s simple, lightweight, easy to use, and very cost effective.
Royal Berkey Water Filter
Shop the Range…
—–
|
Discover what the RBNZ Bank Financial Strength Dashboard is. Can it help you pick a “safe bank” in New Zealand? Hopefully by now you are aware that there is no deposit insurance in New Zealand banks. So if a bank fails in New Zealand you as a depositor run the risk of losing part or all […]
The post 
With the price of gold continuing to move higher over the past few months, it’s time for another updated look at a number of gold and silver charts and gold ratios including: Shares versus Gold Ratio Gold Silver Ratio Housing to Gold Ratio New: OktoberFest Beer to Gold Ratio Dow/Gold Ratio The relationship between gold […]
The post 
Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2328 Buying Back 1kg NZ Silver 999 Purity $901 Gold Bouncing Back Strongly This Week NZD gold bounced back strongly off the previous high from 2011. It’s now once again […]
The post 
In September 2017 the US Federal Reserve announced that it would finally begin shrinking its $4.5 trillion balance sheet. So how has the Federal Reserve balance sheet reduction affected asset prices since then? How has the Fed stance on its balance sheet changed so far in 2019? What will happen next? Firstly, What is the […]
The post 
Pingback: Are the Federal Reserve’s “Temporary” Money Injections Becoming Permanent? - Gold Survival Guide
Pingback: Central Bank: "If The Entire System Collapses, Gold Will Be Needed To Start Over" - Gold Survival Guide