Prices and Charts
NZD Gold Edging Higher
Gold in NZ Dollars edged about 1% higher this week. It looks to have found support around the previous all time high set back in 2011 (see the red horizontal line in the chart below).
There is still a chance we could see a move back down towards the 50 day moving average (MA) line (blue wiggly line). But currently gold is looking quite strong so that can’t be counted upon.
Silver Consolidating After Breakout
Silver is slightly higher than last week. It broke out from the bullish flag or pennant formation over the holiday break. Over the past couple of weeks silver has pulled back and is retesting the upper trend line in the pennant formation as would be expected after a break out. The RSI is back in neutral territory, so we could just see silver consolidate around these levels.
NZ Dollar May Be About to Rise Again
Meanwhile the New Zealand Dollar looks to have found support at the 0.6600 level. The 50 day MA has crossed above the 200 day MA. This is often indicative of a change to a rising trend in the intermediate term at least. So as we suggest in our 2020 guesses we may see the NZ dollar strengthen a little over 2020. However, as we outlined in last week’s feature post, we’d still say the gains in gold and silver are likely to be greater than any gains in the Kiwi dollar.
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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Why Buy Gold? Here’s 15 Reasons to Buy Gold Now in 2020
Yesterday we received a question “why did gold rise in 2019?” We’ve yet to answer that directly. However, as it happens we’d just written a post that likely contains the answers to this question.
We’d hazard a guess that the reasons to buy gold in 2020, are also quite a number of the same reasons as to why gold rose in 2019.
So if you’re thinking of buying, here’s a number of reasons that may help convince you…
The 2019 Top 5: Our Most Read Articles of 2019
It’s always enlightening to look back on what was popular the previous year. Our second most read article in 2020 looked at why the NZ dollar had fallen and what it might do from there. Interestingly, the other 4 posts are mostly of a more general nature.
So here were our most read articles written in 2019:
Most Read Blog Posts Published in 2019
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.
Best Time to Buy Gold in 2020?
The chart below gives us a good idea as to when the best time to buy gold in 2020 is…
Why is that?
Because in each of the last 6 years, the NZD gold price finished the year higher than it started. Therefore, generally speaking if you bought gold in January the price is usually higher by the end of the year.
So if you’re sitting on the fence trying to determine the short term moves in gold and silver, you may be better off just buying. With recent history showing that the price will likely be higher by year end.
But please do get in touch if you have any queries.
- Email: email@example.com
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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