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:
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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?
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…
- Email: firstname.lastname@example.org
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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