Prices and Charts
NZD Gold Continues Last Week’s Comeback
Gold in New Zealand dollars continued the comeback from the week before, rising $33 per oz. NZD gold is now close to breaking out of the short term wedge formation. It could go in either direction, there is no real strong argument either way right now. So we could still see gold dip back to the blue downtrend line it broke above in November. Or even down to the 200 day moving average which is not much lower now.
But Silver is Down
While NZD gold was up, silver went lower this week. Down 0.80% from 7 days ago, dipping below the 50 day MA and down to touch the blue horizontal support line around $33. Silver is trying to bottom out at that line now.
NZ Dollar Hits New 12 Month Low
This week the New Zealand dollar dipped below the sideways range it has been in all year. Falling to a new 12 month low. We have now marked out a downtrend channel that the kiwi dollar looks to be in.
Given the length of the lock down in New Zealand’s biggest city, it’s perhaps not surprising that forex traders have gotten more negative on the New Zealand economy. There may not be the pent up demand that has been seen when previous lock downs were lifted.
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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Gold Purity and Silver Purity – A Complete Guide
We’ve had a lot of questions lately about the purity of silver bars vs silver coins. The locally refined NZ 5 oz silver bars we currently have available are 99.95% pure. Which is higher than some silver coins, for example the Austrian Philharmonic and American Silver Eagle which are 99.9%. But lower than some other coins, such as the Canadian Silver Maple, which is 99.99% pure. Speaking of Maples, the new 2022 silver maple is anticipated to arrive in mid January. So these are available to pre-order now.
There is quite a lot to the subject of gold and silver purity. So this week’s feature article covers everything you’ll need to know on this topic, including:
- Gold Purity: Carats vs Fineness
- Millesimal Fineness and Percentage Purity
- Converting Carats into Fineness
- Gold and Silver Purity Conversion Chart
- GST on Gold and Silver in New Zealand – Depends on the Purity
- How to be Sure of the Purity When Buying Gold and Silver Bullion
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.
Lack of Silver Coins and Ongoing Dispatch Delays
As we said last week, 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: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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