The Gold Correction is Underway

Prices and Charts

Change from last weeks gold and silver prices

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Buying Back 1oz NZ Gold 9999 Purity $2040
Buying Back 1kg NZ Silver 999 Purity $697

The Gold Correction is Underway

The gold correction we expected (see: USD Gold Breakout – 6 Year High Above $1400 – What Happens Now?) is underway.

NZD gold is down just under 2% from last week. It was even lower than that level yesterday. But this morning bounced back.

The unknowable question now is how far will gold correct?

We outlined some levels to watch for last week in the post mentioned above. So check that out for more detail.

However we’d guess $2050 remains a good mark to watch for.

But there is also the chance we see gold consolidate in a more sideways range for a bit. This too would work it back down to more neutral levels on the RSI overbought/oversold indicator.

You may choose to split any buying you wish to do so you don’t get stuck waiting on the sidelines.

NZ Dollar Gold Chart

Meanwhile silver is down too. Just not quite so much as gold.

Having broken above it, NZD silver now sits right on the multi year downtrend line.

So we’re still waiting for silver to play catch up with gold.

NZ Dollar Silver Chart

The New Zealand dollar moved higher during the week. But has pulled back today. So the Kiwi remains stuck in the 0.65 to 0.67 range it’s been in since April.

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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New Zealand Bank Deposit Protection Scheme – Does N.Z. Have Bank Deposit Insurance?

The government announced a proposed bank deposit protection scheme last week.

So we delve into what is effectively a limited government guarantee of bank deposits will look like.

You’ll see:

  • The history of bank guarantees in New Zealand
  • What we don’t yet know about the proposed bank deposit protection scheme
  • Will bank deposits held by a Kiwisaver scheme be covered?
  • Does a government guarantee make our banks safer?
  • How does it compare to other countries?
  • An alternative to relying on the bank deposit protection scheme

New Zealand Bank Deposit Protection Scheme – Does N.Z. Have Bank Deposit Insurance?

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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.

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Derivatives – a Beginner’s Guide to “Financial Weapons of Mass Destruction”

Have you noticed lately there is still plenty of discussion over Deutsche Banks derivative portfolio and the risks this places on the global financial system?

Greg Hunter at USA Watchdog recently interviewed Charles Nenner on the subject of Deustche Bank.

While others think: “The black hole surrounding derivatives is just as dark today as it was in 2008 – and just as dangerous.”

So just what are these mysterious derivatives?

Read on to learn about:

  • The history and origin of derivatives
  • How derivatives morphed from farmers friend to financial weapons of mass destruction
  • Why do interest rate derivatives now make up so much of the total derivative pool?
  • What do these derivatives mean for New Zealand?
  • How NZ bank derivatives have grown too
  • How to protect yourself from derivative Risk

Derivatives – a Beginner’s Guide to “Financial Weapons of Mass Destruction”

Get Your Wealth Protection

A key theme of both this weeks articles is protection.

Gold and silver are wealth protection.

They’ll give you peace of mind – once you own the physical metals.

Give us a call if you have any questions about buying either.

  1. Email:
  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:

New Zealand Bank Deposit Protection Scheme – Does N. Z. Have Bank Deposit Insurance?

Wed, 3 Jul 2019 1:16 PM NZST

How safe are your bank deposits? Does New Zealand have a bank deposit insurance scheme? Or is there a government bank deposit guarantee? The short answer is no. New Zealand doesn’t currently have a bank deposit protection scheme. However this may be about to change. The Labour/New Zealand First government announced a plan on 24 […]

The post New Zealand Bank Deposit Protection Scheme – Does N. Z. Have Bank Deposit Insurance? appeared first on Gold Survival Guide.

Read More…

Derivatives – a Beginner’s Guide to “Financial Weapons of Mass Destruction”

Tue, 2 Jul 2019 11:07 AM NZST

Following the 2009 financial crisis, the term derivatives has been firmly embedded in todays lexicon. With the failure of Bear Stearns in 2008, and subsequent bailout of multiple other too big too fail banks, the term “derivative” was popping up everywhere.  Then in 2012 we had JP Morgan’s $7 billion trading loss on credit derivatives […]

The post Derivatives – a Beginner’s Guide to “Financial Weapons of Mass Destruction” appeared first on Gold Survival Guide.

Read More…

Bank Capital Changes: What is the RBNZ Preparing For?

Mon, 1 Jul 2019 3:01 PM NZST

The New Zealand central bank is aiming to increase the amount of capital New Zealand Banks must hold. Why would they want to do this? Does the Reserve Bank of New Zealand (RBNZ) see some troubles looming on the horizon? Read on to find out… IMF’s Dire Warning on Global Economy In the Herald in […]

The post Bank Capital Changes: What is the RBNZ Preparing For? appeared first on Gold Survival Guide.

Read More…

USD Gold Breakout – 6 Year High Above $1400 – What Happens Now?

Wed, 26 Jun 2019 1:45 PM NZST

USD Gold this week broke above the key level of US$1400. Just under a week ago it broke above $1375. What happens now? Prior to this breakout, gold had attempted to break through this overhead resistance at $1375 six times in recent years. But now that the breakout has occurred, gold in USD is at […]

The post USD Gold Breakout – 6 Year High Above $1400 – What Happens Now? 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:
  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
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1oz PAMP Suisse 99.99% pure gold bar
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1kg PAMP 99.9% pure silver bar
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1oz Canadian Gold Maple 99.99% pure gold coin (1986)
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1oz Canadian Silver Maple 99.99% pure silver coin
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  • 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)
Ph: 0800 888 465
From outside NZ: +64 9 281 3898

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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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