Silver: One of the Best Opportunities in the Market Today

Prices and Charts


Change from last weeks gold and silver prices




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NZD Gold Dipping Down from All Time Highs

Gold in New Zealand dollars briefly touched all time highs this week (lower than what the chart shows as it only got to $4700). But it is now down $45 or almost 1% from last week to $4605. Back retesting the downtrend line in the wedge consolidation pattern. But it is looking like the bottom is in at $4350. So any dip down to the blue uptrend line looks like a great buying opportunity. We’ve still got the support lines on the chart from $4300 down to $4100. But it looks much less likely these will be hit now.

While in US dollars gold was down $49 (-1.8%) to $4647. After getting briefly to $2700 it has pulled back. But it has made a series of higher lows. So it’s likely it has bottomed at $2550.

NZ Dollar Gold Chart


Great Buy Zone for Undervalued Silver

After a sharp rise the previous week, NZD silver was down $2.02 or 3.7% from a week prior. It is back down just below the 50 day MA agin. This looks like a good buy zone right here as silver seems to have bottomed out as well at NZ$44. Next buy zones are still marked but our feeling is that silver is building to head higher again.

In USD terms silver was down $1.43 or -4.5%. It got close to breaking above the resistance line at $33 but has dipped sharply. USD Silver likely bottomed at $30 and the 200 day MA is now almost up to there too. We’d say this will be a very good long term buy zone right here today.

NZ Dollar Silver Chart


Kiwi Dollar Hits 2 Year Low

The NZ Dollar was down 49 basis points from a week ago. It has hit a new 2 year low. Now there is not a lot of support until the 2022 low at 0.5600. While the US economy remains looking strong there’s a reasonable chance that may be hit.


NZ Dollar Silver 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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Investment Timing: A Guide to Buying Gold and Silver

In this week’s feature article, we explore the optimal times to invest in gold and silver, considering both fundamental and technical factors. We discuss how economic conditions, global events, and market trends can influence the decision to buy these precious metals. On top of this, we examine why buying at the end of the year has been a great move in 14 of the past 15 years.

By understanding these factors, you’ll be able to make informed decisions about investing in gold and silver. Whether you’re aiming to protect your wealth or capitalise on market movements, this guide offers valuable strategies to optimise your investment timing.

 

When to Buy Gold or Silver: The Ultimate Guide (Dec 2024 Update)


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Silver: One of the Best Opportunities in the Market Today

Last week we highlighted the still out of whack gold to silver ratio. (Note: The ratio is also covered in this week’s feature article above).

Tavi Costa also pointed out this week that:

“Silver on the move again.
 
This is not the time to lose focus on what I consider to be one of the best macro-opportunities in the market today.
 
A consolidation phase following a major breakout within one of the most extended cup-and-handle patterns I’ve ever seen.”

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Source.

We’re personally adding to our silver stash this week. Maybe you should do the same?

What’s in Store for NZ in 2025?

This week ASB Senior Economist released the banks 5 key things to watch over in 2025.

They were:
  • Lower NZ interest rates
  • The return to low and stable inflation
  • The comeback for consumer spending and the housing market
  • The start of NZ’s economic rebalancing
  • Trump 2.0

ASB says that while overall there’s cause to feel more positive about the year ahead, there will also need to be an element of wait and see. As we keep saying, we think the return of low and stable inflation appears very unlikely to us. More like a temporary blip.

NZ consumer prices were flat in November ([ASB] had expected a small fall), with annual inflation from this measure ticking up to a still-low 1.4%.  Higher than expected food prices largely accounted for the upward surprise, but there were also signs that earlier disinflationary forces were waning suggesting that the RBNZ may not need to push the OCR below circa 3-4% neutral levels.

Keep a look out for our own 2024 in review and predictions for 2025 in early January.

2025: Higher Risk of a Crash?


One thing that almost no one seems to be expecting in 2025 is a significant stock market correction. But the below chart shows the US markets are well overdue for a fall.

“The last time we saw such significant breadth deterioration in the broader market, even as the S&P 500 continued to reach new highs, was at the peak in 2021.
 
A significant market correction is highly likely in the next few months in my view.”

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Source.
What the chart shows is that the number of companies whose price is above the 200 day moving average is sharply falling. While the S&P500 continues to rise. Or put another way, fewer companies are contributing to the overall market’s rise.

John Butler on “Digital Gold”


John Butler gave a great talk in Auckland back in 2013 which we outline here: “Remonetisation of gold is inevitable

This week he had an interesting take on the current “digital gold” rally. One that we largely would agree with. He covers:

  • “Digital gold” reaches $100,000
  • Does the rally have further to run?
  • Real gold should have a place in all investors’ portfolios

He makes the point:

“The moniker “digital gold” is somewhat oxymoronic. After all, what distinguishes gold from the other naturally occurring elements is its unique physical properties. But proponents of [BTC and other digital currencies] will argue that this mixture of physical and digital is precisely what makes it so special and potentially so valuable. Through [them], one can take the best, natural qualities of gold and combine them with advanced information technology.”

Worth reading the full article here.

Goldman Sachs: Gold to US$3000 in 2025

Here are Goldman’s scenarios for gold prices over the next year. They are simply based upon whether the Fed cuts rates and by how much. Probably an overly simplistic analysis in our view. But all their scenarios show gold rising in 2025:

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Source.

History Says: You Won’t Regret Buying Gold Right Now


If you don’t read all of this week’s feature article there are a couple of key takeaways you should get from it.

  1. In 9 of the past 15 years we have seen a spike down in gold over the low volume Christmas/New Year holiday period. So that is a good time to make a purchase.
  2. But in 14 of the last 15 years, buying at the end of one year, saw the price higher at the end of the next year. 2024 will add another year to this statistic as NZD gold is likely to end the year up well over $1000 per ounce!

Gold Survival Guide Android App


So history also agrees with Goldman Sachs. History shows that buying right now is unlikely to be something you will regret a year from now.

This will be our last weekly newsletter for 2024. So we wish you and your family a happy Christmas and a prosperous New Year.

We are only “closed” on the Statutory holidays, although with NZ refineries closed from 23rd December and reopening on 6 January, we only have offshore suppliers to deal with. But get in touch for a quote anytime and we can let you know your options.



Please get in contact for a gold or silver quote, or if you have any questions:

 
  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

 

This Week’s Articles:

When to Buy Gold or Silver: The Ultimate Guide (Dec 2024 Update)

Tue, 17 Dec 2024 3:03 PM NZST

When to Buy Gold or Silver

When to buy gold or silver is a question that can have multiple meanings. Firstly you might ask it from […]

The post When to Buy Gold or Silver: The Ultimate Guide (Dec 2024 Update) 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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