Prices and Charts
NZD Gold Bounces Back
Gold in New Zealand dollars was up 1.22% this past 7 days. It bounced up off the horizontal support line at $2450 and managed to get up to the 50 and 200 day moving averages (MA). But has pulled back a bit today. It is looking good for the bottom to be in at $2450. But there may be a bit more choppy up and down action before we can see gold break above the downtrend line dating back to June.
NZD Silver Outperforming Gold Again – Up 2%
Meanwhile silver continues to outperform gold. In New Zealand dollars silver was up almost 2% from 7 days ago. It did reach the overhead resistance line around $35. But as we suspected, it didn’t manage to break through that level on the first attempt. We could see a return to the 50 day MA or even around $33 now. But overall we’d say it is looking good for a bottom to be in for silver at the $31 mark and November low.
NZD Barely Changed
The New Zealand dollar is up just 11 basis points from a week ago. Having pulled back after touching oversold on the RSI indicator (blue circle), we will now see if it can hold above the 200 day moving average. Could go either way from here as it remains in the middle of the large sideways trading range.
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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Twitter’s Jack Dorsey: ‘Hyperinflation is going to change everything. It’s happening.’
The founder and CEO of Twitter, Jack Dorsey had a rather cryptic tweet over the past weekend:
‘Hyperinflation is going to change everything. It’s happening.’
That was all he said with no further details or clarification. So what did he mean?
James Altucher highlighted all the data that the digital payment company Square – owned by Twitter – has access to. So Dorsey has a huge swath of information on what prices are doing in real time.
Dan Denning in the Rum Rebellion had some good points:
“Dorsey knows that investors, savers, and retirees have been told a big lie. The big lie is that money printing, deficit spending, and bigger debts produce wealth. They don’t. They produce bigger debts and higher prices. Hence the warning about hyperinflation.
Is this how it begins, the normalising of outrageous prices, shortages, and scarcity?
…It’s almost impossible for most mainstream economists and media personalities to imagine prices for food, fuel, and imported goods spiraling out of control. In the US, the dollar is the world’s reserve currency. For hyperinflation to really take hold in the US, foreign investors would have to dump the dollar. There’s no way that’s going to happen, right?
We’ll see. Australia will be unsettled by any chaos in the US. A US dollar crisis can’t happen without there being a debt crisis. There’s nearly US$300 trillion in global debt, according to the Institute of International Finance. A debt crisis that became a dollar crisis would include crashing financial asset prices, a major ‘readjustment’ in the dollar’s value versus other currencies (and real assets), much higher interest rates, and soaring prices.
Is that what Jack Dorsey means? Is he looking at higher prices for rent, beef, and energy and seeing the leading edge of a process that’s now all but inevitable? A process that results in a financial crash, a currency crash, and a great reset of the world’s money system?”
Here’s a post from earlier that year that might be of interest in light of these latest comments:
How Would Hyperinflation in the USA Affect New Zealand?
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.
Dan Denning finishes the same article with another point that is also very timely here in New Zealand with the latest government orders just passed:
“…the big lie continues to pour out of the mouths of certain Australian politicians. The idea that your freedom depends on someone else’s permission is a perversion. It’s a perversion of the traditional relationship between you and your government. And a perversion of the relationship between language and truth.
There is no such thing as ‘fully-vaccinated freedoms’. The freedoms of speech, of the press, of the right of assembly, of religion, and to petition your government for grievances aren’t conditional on your vaccination status.
If Australians accept this moral and rhetorical sleight of hand, then you won’t have any freedom at all. What you’re allowed to do, indeed your very participation in civil society, will depend on submitting and obeying the public health order of the day or suffering the consequences for your refusal.
Don’t let it happen. Ever again. Enough is enough.”
But here’s our guess as to what happens next. We are being sold the line that if almost everyone is jabbed everything will return to normal. However, overseas results from the likes of Israel are showing that the mRNA therapy effectiveness seems to dwindle quite fast. So then you will require another “booster” in order to keep your limited freedoms. Will this be required with every new variant? Where does that end? Could the vaccines actually be helping to speed up the mutation of the virus?
What Percentage of Gold and Silver Should Be in My Portfolio?
Gold and silver can offer protection from high or even potential hyperinflation that Jack Dorsey is warning about. But how much gold do you need to own? This is a common question for people. So this week’s feature article provides some guidelines to direct your thinking.
This article covers:
- 7 Personal Factors That Determine How Much Gold is Enough
- What Percentage of Gold Should Be in My Portfolio?
- How Gold is a Non-Correlated Asset
- How Holding Gold Can Reduce Losses in Financial Crises
- 2 Other Factors to Consider When Deciding How Much Gold You Should Own
So far our guess from last week that the bottoms are finally in for gold and silver looks to be holding up. With both metals bouncing higher. So if we are in fact at the beginning of the next move up in precious metals, then it remains a good time to be adding to your positions.
Local refinery operations continue under Level 3. But dispatches to Auckland addresses and collections have been suspended as goods cannot be inspected, counted or signed for by the customer.
Dispatches will stored and insured free of charge until it is safe again to dispatch them and signatures can be obtained. When we drop down a level, you will be advised when your order is ready to collect and to book in a collection time to ensure an adequate distance between customers.
Although, currently imported orders are continuing to be delivered via Fedex. So that is an option if you are looking to spend more than around NZ$10-15,000.
Please get in contact if you’d like a quote or have any questions:
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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