Prices and Charts
NZD Gold Back On Support Line
Gold priced in New Zealand dollars is back close to the support line at $2850 today. This is not shown on the chart below. As the price dropped sharply late in US trade today as Trump announced no new stimulus package until after the US elections. Share markets fell and precious metals followed.
So NZD gold is back around this support line yet again. Perhaps the odds still might favour a further fall yet? Maybe down to the next support zone? Or even as low as the 200 day moving average which is currently at $2715.
Consider buying some now and then averaging down if lower prices do eventuate.
Silver Down 4% on Last Week
Silver dropped down sharply into the low $35’s in late US trade today. Down over 4% from a week ago. We could yet see a further fall in silver too. There are multiple support lines to watch for as shown on the chart below. Like with gold averaging down may be a good move if a further fall is to come.
NZ Dollar Pretty Much Unchanged
The New Zealand dollar has been jumping up and down this week. However from a week ago it is pretty much unchanged. It’s looking like the possible break out above the downtrend line as indeed just a fake out.
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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The Most Common Question When Buying Precious Metals
We receive a lot of questions when people are first considering buying some precious metals.
But probably the most common one is should I buy gold or silver?
There is not a straightforward one-size-fits-all answer to this question. But this post gives you 7 factors to consider in deciding between gold and silver.
Perhaps you don’t have to…
Apologies for the Broken Link Last Week
We had a few people email to say the link was broken in last week’s newsletter to our post on the NZ housing to gold ratio.
So here it is again today with the corrected link in it in case you had the same issue last week.
You’ll discover that when priced in gold, New Zealand median house prices have fallen 50% since 2005. You’ll also see how history shows New Zealand house prices could fall 79% further yet…
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.
If you have any questions about the process of buying gold and silver please get in touch…
- 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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