Prices and Charts
NZD Gold Up Half a Percent
Gold in New Zealand dollar is up just over half a percent from 7 days ago. During the week it got close to the July highs before dipping a little. But currently gold remains above both the 50 and 200 day moving averages.
Now we are watching to see if gold can consolidate around the current $2600 levels, and then mount a move higher.
NZD Silver Also Up Close to Half a Percent
Silver is up just slightly less than gold for the past 7 days. However over the past couple of days, silver has actually been outperforming gold for the first time since the flash crash.
As silver often falls harder than gold in any corrections, this could be a sign that the worm has turned. But silver does have some catching up to do. As it needs to rise almost $2 per ounce to regain all of the plunge.
So for now we’ll reserve judgement.
NZ Dollar Bouncing Back After Setting a New Low for 2021
The New Zealand dollar set a new low for the year on Friday. Getting down to the bottom of the sideways trading range that we have had drawn into the chart for some months. But since then it has bounced back into the mid 0.69’s, to be up just under half a percent from a week ago.
So this large sideways range continues.
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:
Continues below
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Trust is Diminishing While We Are Being Asked to Trust More
The last 18 months has seen a lot of “trust” being asked for.
Trust the science. Trust the experts. Trust the government.
But it seems to us, that for many people, trust in these institutions is actually diminishing.
This has been evidenced by an uptick in questions we have received in recent weeks.
Such as this one:
Would the government be able to confiscate gold I own in NZ for any reason?
I bought gold through your company. Who else knows how much gold I own?
Bullion dealers are required to gather and collect proof of identity only when clients purchase $10,000 or more of bullion in cash.
There is a requirement under the second hand dealers regulations when buying back to collect ID and addresses. This is in case of theft so police can track the perpetrators.
Other than this there is no government requirement to collect or report any client purchase information.
Of course the laws can change. So this week we give our thoughts on government confiscation of gold and silver.
Here’s what you’ll discover:
- Gold Confiscation: A (Very) Short History Lesson
- So Where Does New Zealand Stand on Gold Confiscation?
- The Difference Between Today and the US Confiscation of the 1930’s
- What Else Might the G-Man Resort To?
- What About Silver Confiscation?
- Other Options to Hedge Against Gold Confiscation?
- So, What are the Odds of a New Zealand Government Gold Confiscation?
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.
What Do These Recent Significant Large Purchases of Gold Around the Globe Signify?
Palantir Buys Over $50 Million Of Gold Bars: “Preparing For A Future With More Black Swans”
Software company Palantir bought over $50 million of gold bars. Founded by Paypal founder and now New Zealand citizen Peter Thiel, the company “wrote in a filing last week that it stockpiled $50.7 million in gold bars earlier this month.”
Palantir have also previously said they would accept payment from clients in gold and digital currencies.
“…Shyam Sankar, the COO of Palantir, said accepting nontraditional forms of payment “reflects more of a worldview,” adding: “you have to be prepared for a future with more black swan events.”
Palantir’s 100-ounce gold bars are expected to be stored in an undisclosed vault in the US Northeast.
“The company can take physical possession of the gold bars stored at the facility at any time with reasonable notice,” Palantir wrote.”
Palantir has a long history of serving U.S. military and intelligence agencies with data mining and data analysis software.
So as Mike Krieger of Liberty Blitzkrieg tweeted, “When the spooks tell you a false flag is coming, a false flag is coming.”
But Palantir is not alone in significant gold purchasing…
…Chinese Gold Demand Up 69.2% in First Half 2021:
SchiffGold reports that:
“Chinese gold demand rebounded sharply in the first half of 2021 after plummeting in 2020, according to data released by the China Gold Association (CGA). China ranks as the world’s number one gold consumer and the Chinese market has a significant impact on global demand.
Demand was up 69.2%, coming in at just over 547 tons through the first 6 months of the year. China’s year-on-year gold consumption surged 93.9% in the first quarter alone. Gold demand wasn’t just up compared to 2020, a year of economic distress due to coronavirus. It was up 4.49% above pre-pandemic levels in 2019.”
…While Brazil Almost Doubled Its Gold Reserves in 3 Months:
“Brazil’s central bank purchased over 62 tons of gold in three months through July 2021, raising the nation’s reserves to nearly 130 tons. The estimated growth of physical holdings reportedly amounted to 92.4%.”
Source.
…The Indian Central Bank Has Also Been Buying:
“RBI buys record gold this year: At 700 tonnes, reserves up 27% in 2 years
The Reserve Bank of India (RBI) has increased its gold purchases, as part of its foreign exchange (forex) reserves. In the first half (H1) of calendar year 2021 (CY21), the addition of gold to India’s forex reserves has been the highest — on a half-yearly basis —at 29 tonnes. Now, the RBI’s gold holding — as a proportion of its forex reserves — has for the first time crossed 700 tonnes.”
Source.
50 Year Anniversary of Fiat Dollar
The above gold purchases are simply signs of a further loss of trust in the global reserve currency. (There’s that word again!)
Interestingly these headlines have all appeared around the time of the 50 year anniversary of the current version of the US dollar. August 15 marked 50 years since President Nixon severed the last link between the dollar and gold, giving the U.S. (and by extension the whole planet) a fiat currency.
Source.
A change in the monetary system is inevitable. When you have a software company who is heavily involved with the US government also diversifying into gold, it might be a good idea to make sure you have some diversification too.
As we said last week, we can continue to take orders and lock in prices for gold and silver. However like last year, dispatch of orders will have to wait until the lockdown is lifted and normal courier deliveries resume. Currently imported orders are continuing to be delivered via Fedex.
So get in contact if you’d like a quote:
- Email: orders@goldsurvivalguide.co.nz
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
— Prepared for the unexpected? —
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With Covid lockdowns and the government encroaching more and more into everyday life, both here and across the planet, we have more people getting concerned about the potential for gold confiscation. In various gold and silver newsletters we read, we’ve seen a few queries on the topic of confiscation of gold in the USA. We […]
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