Prices and Charts
Gold in NZ Dollars Consolidating Between $2875 and $2975
Gold in NZ Dollars was down just $7 from 7 days ago. It continues to consolidate between $2875 and $2975. It did get down close to the 50 day moving average (MA), but is up a little from there. It could yet still dip down to the rising blue trendline.
As you’ll see below the NZ dollar is looking quite oversold and is likely due to bounce. So this could put pressure on local gold and silver prices.
There are further support levels to watch at $2700 and the 200 day MA.
Silver Close to a Bounce Back?
Like with gold, the much weaker NZ dollar helped hold up the price of silver in NZ dollars. But it was still down over 2% from last week. In US dollars silver was down over 4%.
But now silver in both currencies is retesting the breakout from the downtrend. With the RSI also the lowest it has been all year, we could be close to seeing silver bounce higher. Our guess is a bottom is likely not too far off. These levels will likely be a good long term buying zone.
NZ Dollar Well into Oversold. Due to Bounce Higher?
The New Zealand dollar was down sharply again over the past week. Falling 118 basis points or 1.80%. The Kiwi now sits at the lowest mark in almost 2 years. If we ignore the plummet from the initial covid19 panic in March 2020, then current levels are close to the bottom of the range that the NZD/USD has been in since 2015.
So odds are high that we should see a decent bounce higher very soon. As noted already, that could put a dent in local gold and silver prices. But of course that also depends upon what the USD price of gold and silver does. And they (especially silver) could also be about to move higher.
In the long run the currencies all simply take it in turns with losing value against gold. So you don’t really need to pay too much attention to the machinations in NZD/USD exchange rates.
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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When is the Best Time to Buy Gold?
Here is a very common question: When is the best time to buy gold?
In this article we look at 3 factors to consider in helping to determine this:
1. Historical indications (which months are best to buy)
2. “Best time to buy gold is before a crisis”
3. Why it depends on your investment strategies
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.
Gold and Silver Technical Analysis in 2022: The Ultimate Beginners Guide
Closely related to the article above we are following a certain theme this week. That of timing and when to buy gold and silver.
Because when deciding on the best time to buy, we can be aided by using technical analysis.
In this updated ultimate guide we cover everything you need to know about using charts to help you time when to buy and sell. Here’s just some of what is covered:
- What are the Benefits of Technical Analysis in Gold and Silver?
- Is Gold and Silver Technical Analysis of Any Use if Markets are Manipulated?
- The Different Types of Charts Available For Gold and Silver Technical Analysis
- Where to Get Gold and Silver Technical Analysis Charts for Free?
- Our 7 Favourite Gold and Silver Technical Analysis Indicators and How to Use Them
A New Cycle: Stocks and Bonds Will be Under Pressure
Here’s a short excerpt from our secret investment advisors latest report.
He is quite strongly of the opinion that we are at the start of a new era in the financial world…
“We are now embarked on a new cycle, so similar to that of 1966-82, where the both stocks and bonds will be under pressure. The Fed will gradually raise rates but still be continually running behind market rates, as they were from 1966 to 1980. A big deal will be made this week when the Fed raises its rate by 0.5%, but this will still lag behind what is actually happening in the real world.
We’ve heard and seen this all before, and it didn’t end well for the economy or for most investors. However, those who understand what is happening and are able to anticipate the future will profit during this decade, just as they were able to during the 1970s.”
He believes gold and silver should do very very well in the coming years. If you are of a similar mind then please get in touch for a quote or with any questions you have…
- 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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