Silver: Premiums Down or Paper Price Up?

Prices and Charts

Change from last weeks gold and silver prices

Looking to sell your gold and silver?

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Buying Back 1oz NZ Gold 9999 Purity $2397
Buying Back 1kg NZ Silver 999 Purity $1177

Gold Back Down to Support Level Around NZ$2500

Gold is down over $40 from a week ago. Today sitting just under the $2500 and right on the horizontal support line. So gold continues to trade in this sideways range it has been in since November. Consolidating the large rise since 2019. Of course there is no way of knowing if it might go a little lower yet even. But this is a chance to buy at the lowest level since March last year. So likely a very good zone in the long run.

NZ Dollar Gold Chart

Silver Continues to Outperform Gold

Unlike gold, NZD silver is up (albeit only just) from a week ago. So silver continues to outperform gold as it has done in recent weeks.
Also unlike gold, silver looks to be in an uptrend since November last year. Making a series of higher highs and higher lows from then. NZD silver could drop right back to near $34 and still  be in a clear uptrend. The 200 day moving average would be a good buy zone to watch for – if we see it.

NZ Dollar Silver Chart

NZ Dollar Down 0.50% From a Week ago

Meanwhile the New Zealand dollar is down about half a percent from last week. Continuing to bump along the steep rising uptrend line. The Kiwi still looks to be building for a move into the 0.73 to 0.75 range.

NZ Dollar 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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Silver Short Squeeze – Is it Over Already?

Not too much has changed from what we wrote about silver in last week’s update.

Silver is up slightly on a week ago and demand remains pretty strong.

So was that it for the short squeeze? Perhaps… More thoughts below…

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Premiums Down or Paper Price Up?

Premiums on silver coins have risen markedly in February. Now we wait to see what happens…

Do these premiums fall back to more normal levels in the coming weeks and the paper price stay about where it is? Or does the paper price rise higher and closer to the physical coin prices?

Our favourite newsletter writer Chris Weber (Learn more about Chris here) this week posted an update from US bullion dealers Mish International that nicely explains the above possibilities:

“Come the end of the month when longs and shorts settle COMEX contracts for March delivery of 1000 oz bars, we will know if the buyers or sellers are stronger. This is when a real “squeeze” on short sellers can start to manifest. One of two things will happen: 1) either strong funds and/or physical investment buyers will stand for delivery or rollover their paper to May in numbers beyond expectations (in which case the price of paper will move closer to the current market price of physical –or (2) paper longs will sell or roll forward their paper rather than take delivery, enabling the shorts to retire their paper and reshort the higher May futures price.

The third thing that will happen is manufacturers (Gov’t and Private Mints) will take delivery into mid/late March and begin to manufacture the enormous backlog of orders for silver 1, 10, & 100 oz bar products…a process that is estimated to run through June. This in time will relieve some of the shortage of manufactured products; however, new demand if significant can continue to overwhelm production capabilities. In the interim, the market price of silver can keep rising, deliveries or not.”

That about sums it up for silver currently.

In the interim we do still have some silver coins available to order where the premiums have hardly changed since this recent surge in demand began. See the deal at the top of this email on the limited mintage 2020 Cayman Islands Marlin 1 oz Silver Coins, if you want to avoid paying higher premiums.

Otherwise in silver coins we only have Royal Mint Britannia and South African Krugerands on back order. Everything else has not only got huge premiums above spot, but unknown wait times, so we don’t sell any of those.

Silver bars can be locked in but there is a 4 week wait on ABC bars and a 2 week wait on local silver bars.

There are a lot more options available in gold.

Get in touch if you have any questions about buying…

  1. Email: [email protected]
  2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
  3. or Shop Online with indicative pricing

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This Weeks Articles:

Elon Musk’s Tesla Buys $1.5 Billion in Digital Currency – Read the Small Print

Thu, 11 Feb 2021 12:29 PM NZST

Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2444 Buying Back 1kg NZ Silver 999 Purity $1174 Gold Down But Back Up Again Not much change from a week ago for gold in New Zealand dollars. However gold did dip […]

The post Elon Musk’s Tesla Buys $1.5 Billion in Digital Currency – Read the Small Print appeared first on Gold Survival Guide.

Read More…

If the US Dollar or SDR Was Linked to Gold, How Would This Affect New Zealand?

Tue, 9 Feb 2021 1:36 PM NZST

Excellent questions from our readers keep on coming. A while back we received a question asking how a new gold standard might affect New Zealand. Given New Zealand doesn’t have any gold reserves: Jim Rickards is predicting that as early as January 2018 Donald Trump will devalue the usd and peg it to gold at […]

The post If the US Dollar or SDR Was Linked to Gold, How Would This Affect New Zealand? appeared first on Gold Survival Guide.

Read More…

Silver Plunges 8% Overnight But Still Up 5% on a Week Ago

Wed, 3 Feb 2021 1:26 PM NZST

Prices and Charts Looking to sell your gold and silver? Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $2464 Buying Back 1kg NZ Silver 999 Purity $1092 A Week of Action But Gold is Flat from Last Week Well, what a week of action in the world of precious metals! […]

The post Silver Plunges 8% Overnight But Still Up 5% on a Week Ago appeared first on Gold Survival Guide.

Read More…

Will The “Reddit Raiders” Cause Silver to Skyrocket?

Wed, 3 Feb 2021 12:14 PM NZST

By now you’ve likely heard about the short squeeze that may be under way in silver. These same traders who have initiated this move were first doing the same in stocks. Jim Rickards had a great summary of this yesterday: “GameStop shares went from $20.00 on January 12, 2021, to a peak of $468 on […]

The post Will The “Reddit Raiders” Cause Silver to Skyrocket? 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: [email protected]
  2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
  3. or Online order form with indicative pricing


7 Reasons to Buy Gold & Silver via GoldSurvivalGuide

Today’s Prices to Buy
1oz NZ 99.99% pure gold bar
1oz NZ Gold Ingot
$2581
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1kg “Scottsdale Gold” Bar 99.99% with unique serial number

$83,753
1oz 2020 Royal Australian Mint 99.99% Gold Coin

$2677 – Phone or email to pre-order
1oz Canadian Gold Maple 99.99% pure gold coin (2020)
Gold Maple
$2663
Royal Mint Britannia Silver Coins 99.9% 1oz Silver Coins
(Minimum order size tube of 25 coins)

Silver Monster Box
Tube of 25 $1183 (pick up)
Box of 500

$23,650 (pick up)

(Fully insured and delivered)

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Note:

  • Prices are excluding delivery
  • 1 Troy ounce = 31.1 grams
  • 1 Kg = 32.15 Troy ounces
  • Request special pricing for larger orders such as monster box of Canadian maple silver coins
  • Lower pricing for local gold orders of 10 to 29ozs and best pricing for 30 ozs or more.
  • Foreign currency options available so you can purchase from USD, AUD, EURO, GBP
  • Plus we accept BTC, BCH, Visa and Mastercard
  • Note: For local gold and silver orders your funds are deposited into our suppliers bank account. We receive a finders fee direct from them. Pricing is as good or sometimes even better than if you went direct.

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We look forward to hearing from you soon.

Have a golden week!

David (and Glenn)
GoldSurvivalGuide.co.nz
Ph: 0800 888 465
From outside NZ: +64 9 281 3898
email: [email protected]

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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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