NZD Gold Above $2000 – Should You Buy the Breakout?

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Gold in NZ Dollars Above $2000 for the First Time since 2013

NZD gold is up sharply this week. It has broken clearly through the psychologically important $2000 level. A level not reached since early 2013 – nearly 6.5 years ago.

So it’s now worth looking at where to from here for NZD gold?

We’ve added a few trend lines along with some overhead horizontal resistance lines. These highlight some possible levels to now watch for.

The rising blue trendline indicates $2050 may be where we see a short term pullback. As this will be the top of the trendline dating back to late 2016.

Once gold betters that mark there is no real resistance until $2200. This is where the next major overhead resistance is (red line). Also intersecting with the next rising trend line (blue).

In US Dollar terms (lower half of the chart below), gold also looks close to making a breakout now that it is back above $1300.

NZ Dollar Gold Chart

Silver Also Up – But Not as Much as Gold

NZD silver was also up over 2% this week. But still lagging gold. Silver is still in the giant wedge formation. Shorter term silver is also continuing in the sideways consolidation range it’s been in since March.

NZ Dollar Silver Chart

As a result of the jump in gold, the gold to silver ratio hit 90 for the first time since the early 90’s.

Gold-Silver-Ratio

This was also when the ratio reached it’s all time high of just over 100.

Gold-Silver-Ratio 30_year

So there is a chance yet of a repeat of that. However silver remains the best buy currently compared to gold. If we did see a return to a ratio of 100, the odds are it would be very brief. Just like 1991.

The current price of silver is likely to be looked back at as being incredibly cheap. Grab some today if you haven’t already.

For more on the Gold Silver Ratio see: What is the Gold Silver Ratio? Why is the Gold Silver Ratio at New Highs?

NZ Dollar Bouncing Back

The NZ Dollar finally bounced higher from its very oversold position of recent weeks. But even a higher Kiwi didn’t stop the rise of NZD gold.

For now it seems that maybe the forex markets have priced in the lower interest rate regime here in New Zealand. So we may see the Kiwi consolidate for a bit now.

Although it might find it tough to get above the 50 day moving average.

NZ Dollar Chart

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:

Gold and Silver Technical Analysis: The Ultimate Beginners Guide

Continues below


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Could Negative Interest Rates Be in Store for New Zealand?

Speaking of interest rates. The recent cut and some crazy news we read last week about negative interest rate mortgages got us thinking: Could New Zealand get negative interest rates?

We look at why people are prepared to pay governments to borrow from them. What negative rates might be saying and whether it is really so whacky to think they could come to New Zealand?

Could Negative Interest Rates Be in Store for New Zealand?

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Buying the Gold Breakout?

We usually talk about buying gold and silver on pullbacks as the best move.

However the chart for NZD gold we showed earlier points to likely higher prices ahead.

When a clear breakout such as this occurs, it is one of the times when may pay to go with the momentum. As any pullback may now only be back to what was the previous resistance level around $1970.

Does this talk of support and resistance have you confused?

We’ve updated our ultimate guide to gold and silver technical analysis. We’ve added Fibonacci retracement levels to the guide.

Plus in light of the current NZD gold breakout, we’ve added a number of current gold charts. These give some real life examples to determine buying zones and price targets now.

Gold and Silver Technical Analysis: The Ultimate Beginners Guide Updated

With silver still lagging gold, we reckon silver is still the best buy today.

Get in touch to discuss your different options. Or let us know any questions you have:

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

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This Weeks Articles:

Gold and Silver Technical Analysis: The Ultimate Beginners Guide Updated

Wed, 5 Jun 2019 11:30 AM NZST

Gold and silver technical analysis can be a very large and confusing subject. Technical analysis can seem far too difficult to the new gold and silver buyer. So many people just ignore the topic altogether. But it needn’t be this complex. We’ve written this Gold and Silver Technical Analysis Ultimate Beginners Guide to simplify this […]

The post Gold and Silver Technical Analysis: The Ultimate Beginners Guide Updated appeared first on Gold Survival Guide.

Read More…

Could Negative Interest Rates Be in Store for New Zealand?

Tue, 4 Jun 2019 3:25 PM NZST

Is This What’s in Store for New Zealand Down the Road? How’s this for perverse? Could anything as crazy as negative interest rates on mortgages come to New Zealand? Homeowners in Denmark are “about to get negative interest rates on their loans for all maturities through to five years, representing multiple all-time lows for borrowing […]

The post Could Negative Interest Rates Be in Store for New Zealand? appeared first on Gold Survival Guide.

Read More…

A Lower NZ Dollar Isn’t All It’s Cracked Up to Be

Sun, 2 Jun 2019 9:52 AM NZST

Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $1879 Buying Back 1kg NZ Silver 999 Purity $666 Gold in NZ Dollars Holding Above $1950 Gold in NZ dollars is down just a tad on last week. But is still sitting […]

The post A Lower NZ Dollar Isn’t All It’s Cracked Up to Be appeared first on Gold Survival Guide.

Read More…

Comparing NZ Money Supply, Government Inflation Statistics, Property Prices, and Gold Prices for the Last 19 Years

Tue, 28 May 2019 11:15 PM NZST

COMPARING NZ MONEY SUPPLY, GOVT INFLATION STATISTICS, PROPERTY AND GOLD PRICES SINCE 2000NZ Money Supply and House Prices “House prices double every ten years”, the old adage goes. So why is this? Well, we reckon the following chart pretty much answers the question.   New Zealand Money Supply M3 source: tradingeconomics.com The chart is taken from a very interesting website called tradingeconomics.com. They have all sorts of […]

The post Comparing NZ Money Supply, Government Inflation Statistics, Property Prices, and Gold Prices for the Last 19 Years appeared first on Gold Survival Guide.

Read More…
As always we are happy to answer any questions you have about buying gold or silver. In fact, we encourage them, as it often gives us something to write about. So if you have any get in touch.

  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


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Have a golden week!

David (and Glenn)
GoldSurvivalGuide.co.nz
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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.
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