USD Gold Up But NZD Gold Down

Prices and Charts

USD Gold Up But NZD Gold Down

Gold in New Zealand dollars was down 1% from last week solely due to a stronger Kiwi dollar.

NZD gold continues to sit right on the rising support line. Despite the dip it still looks like a higher low has been set from the November low.

Gold may just continue to quietly work its way higher from here.

NZD Silver Down 0.5%

The same situation occurred with silver. The USD price was up about 1% while the local NZD price was down just over 0.5%.

Silver once again outperformed gold. We’re sticking to the thought that the precious metals correction is over. A higher low looks to have been made from the low of November. So expect silver to move up from here. Just most likely without too much fanfare.

NZ Dollar Back Up Strongly

The New Zealand dollar was up over 1.5% this past week. Perhaps that is all the correction we are going to see for now? As already noted the stronger Kiwi stopped any rises in the local price of gold or silver.

This New Zealand dollar strength/USD weakness will likely have some people wondering whether it will stop any gains in precious metals for NZ holders. So we have more on that in this week’s feature article below.

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

What Would Happen to the NZ Dollar When the US Dollar Collapses?

The US dollar has fallen significantly since initially spiking higher in March last year during the initial stages of the corona-panic.
As a result we are seeing more talk in the media of a US Dollar collapse. We even shared some thoughts on this topic in last week’s newsletter. (See: “A US Dollar Crash This Year?“).

You may be wondering what a weaker US dollar or even a US dollar collapse might mean for the New Zealand dollar and by extension the NZD gold and silver price?

We tackle this question looking at:

• Firstly Why Has the NZ Dollar Been Rising?
• So Would This Rising NZ Dollar Change in a US Dollar Collapse?
• So if the Reference Point (the USD) Tumbles, Then Will It Take the Rest With It?
• Could Currency Flood Back to the US? How would This Affect the NZ Dollar?

What Would Happen to the NZ Dollar When the US Dollar Collapses?

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.

But Just Don’t Expect the USD Collapse This Year

But as we said last week just don’t expect the end of the US dollar in the immediate future – as in this year.

Also to repeat what we said last week, picking which currency goes up or down against which other currency is also notoriously difficult. Whether the NZ Dollar gains in value against the US Dollar during 2021 is not that easy to say. Even though most probably expect the Kiwi to continue to rise.

The bet against both the Kiwi and the USD versus gold and silver is much easier to make.

In the long run both fiat currencies will continue to be down against the sister metals.

Get in touch if you have any questions about buying…

1. Email: orders@goldsurvivalguide.co.nz
2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
3. or Shop Online with indicative pricing

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: orders@goldsurvivalguide.co.nz
2. Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
3. or Online order form with indicative pricing

• 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
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• 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.
  

Have a golden week!

David (and Glenn)
GoldSurvivalGuide.co.nz
Ph: 0800 888 465
From outside NZ: +64 9 281 3898
email: orders@goldsurvivalguide.co.nz

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