Prices and Charts
Gold Unchanged From Last Week
Gold in New Zealand Dollars is pretty well unchanged from a week ago at $2827 per ounce today.
It pulled back below $2800 but then bounced up off the rising trendline. Making yet another higher low for 2020.
There’s a good chance NZD gold is building to take a crack at the $3000 mark.
However we remain a loooong way above the 200 day moving average ($2437). At some point gold will return to this level. However that doesn’t mean we’ll necessarily see a sharp fall of $400 per ounce. We could see the price grind sideways and the 200 day moving average continue rising to meet the price.
So what to do. Is it too late to buy? Wait for a pull back? We attempt to answer this question in our video this week. Adding some much needed new content to our Youtube channel. Let us know what you think of video content vs written? We’re aiming to add more video but keep doing written content too.
Silver Bouncing Off Trendline
NZD silver this week bounced off the blue trendline and headed higher. Perhaps that is the end of the recent correction from near $27 in early April?
The 200 day moving average is what we still want to see bettered before we get too excited about silver’s prospects.
NZ Dollar Unchanged
The New Zealand dollar is unchanged from a week ago. Sitting at 0.605. So far it has been unable to get itself back above the 0.62 mark. The level from which it plunged during the market crash in March. Still clearly in a downtrend.
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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Is it Too Late to Buy Gold?
As the gold chart above shows, the NZ dollar price has risen over $500 per ounce since the start of the year.
So it’s not unreasonable to ask, is it too late to buy gold?
This video looks at a number of methods to try and place a value on gold and determine where the dollar price of it may go. Including:
- Gold backing of the dollar
- Gold backing of debt
- Comparing gold to shares and housing
- Inflation adjusted prices
- Plus what might do better than gold
These methods are worth following as they’ll also help you determine when you might trade your gold for another cheaper asset…
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.
How Do You Value Gold | What Price Could Gold Reach? Updated 2020
The video above mentions this post. We’ve just updated it to reflect the massive increase in quantitative easing that we have seen since March. The numbers are quite mind boggling. As are the potential prices gold could get to if history rhymes even a little bit.
Once you’ve digested everything in today’s email, you should get the idea that there is plenty of upside ahead for precious metals. if you’re looking to buy, suppliers are starting to clear the backlog of orders so delivery times seem to be coming down now.
Get in touch if you have any questions about buying gold or silver.
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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