Prices and Charts
NZD Gold Still Trading Sideways
Gold priced in New Zealand dollars was up a little this week. However it remains in a sideways consolidation pattern between $2700 and $2800 for the past few weeks.
But now that the USD gold price has broken above $1800, we may also see the NZD gold price move higher.
Silver Now Also Breaking Out
Meanwhile silver in New Zealand dollars looks like it is breaking out. As suspected the breakout in USD gold above US$1800 looks to have launched silver higher too.
Now we are watching for a break above $30. Then a move towards the 2019 high at $31 might not be far away.
Kiwi Dollar Dipping a Little Lower
The Kiwi dollar is down just a touch for the week. Sitting in the low 0.65’s.
To date we have not seen the NZ dollar return to test the 200 day moving average line. Unless we see some new negative news for New Zealand, perhaps we won’t see that after all?
Nonetheless, the Kiwi dollar remains stuck in the multi-year downtrend from 2014. We’d need to see a clear break above 0.67 for this to change.
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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How Many People Own Gold? New Zealand vs Other Countries
The theme last week was selling gold. As part of that discussion we looked at a number of markers to watch for as to when it might be time to sell. (See:
When Will You Know It’s Time to Sell Gold?) One of those indicators was that the masses would be buying gold when it was probably the time to be selling.
So this week we take a look at just how many people own gold across the planet?
How does New Zealand compare to elsewhere? Read on to find out…
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