Prices and Charts
NZD Gold Back Down Close to the Uptrend Line
Gold in New Zealand Dollars dropped $30 over the past 7 days. It is now back down close to the rising support line in the uptrend channel. Odds favour this being a good buying zone, as there is a decent likelihood gold will bounce up off the uptrend line again. But we need to see gold get back above $2650-$2700 to be confident the uptrend has resumed.
Silver Still Under Performing Gold
NZD Silver continues to underperform gold. Silver was down 1.5% on a week ago. Today dipping down into the blue uptrend line. However silver is not the most oversold it has been since the low in November 2020. So there is a good chance that we see a bounce back from somewhere near here.
NZ Dollar Up But Still in a Downtrend
The Kiwi dollar was up over half a percent this past week. But it still remains in the downtrend it has been in for the past month or so. It seems to be that it is the news out of the USA that is the main driver of the exchange rate. Forex markets still don’t seem to be paying much attention to the local expectations of an interest rate hike.
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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RBNZ Announces Public Consultation on a Central Bank Digital Currency
Back in 2018 we reported a fair bit on the Reserve Bank of New Zealand and it’s thinking on a Central Bank Digital Currency (CBDC). At the time the impression was that it was too early for a CBDC in New Zealand.
However things have progressed across the globe significantly since then. With many central banks actively looking into this field.
This month the RBNZ announced it would be consulting with the public on the topic of CBDC’s as well as the future of cash. So we’ve done a bit of research and also looked at what other central banks are up to.
- RBNZ Latest Views on CBDC: No Longer “Too Early”
- Reading Between the Lines: Where Are We Heading With CBDC’s?
- Clues From Elsewhere – What Are Other Central Banks Up To?
- Watch This Space: CBDC’s Inevitable?
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.
Silver Coin Premiums Fall
This week premiums on most silver coins have dropped to the lowest they have been above spot price for some time. A bit of an indicator that demand for silver has also fallen back from previous levels. We’d say this is a good contrarian indicator.
With gold and silver both hovering near uptrend lines, the odds also favour right now being a pretty decent buying opportunity.
So get in contact if you’d like a quote to buy:
- Email: firstname.lastname@example.org
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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