- What Type of Gold Bar Should I Buy? The Complete Guide
- Gold Backing to Debt Ratio: A Reset Like in 1934 and 1980 Would Mean $21,000 Gold
- What Has Pushed the NZ Dollar Lower?
Prices and Charts
NZD Gold at new high for 2018
NZD gold price is up sharply this week, simply due to the much weaker NZ dollar. More on that soon.
NZD gold reached the highest price for 2018 this week. Close to breaking above $1875 and also not far from the $1900 horizontal resistance. The key level then is the $1950 high from 2016.
Silver in NZ Dollars flew higher earlier this week on what looked like a short covering rally in the futures market. As a result silver in both USD or NZD got very close to breaking out of the multi-year wedge formation. But it has since pulled back. This formation is getting narrower and narrower and can not continue for too much longer.
This wedge is like a giant coiled spring. So when silver breaks out of it history suggests it will be a very large move.
Kiwi Dollar Plunging
But the biggest move this week was in the NZ Dollar. It tumbled almost 4%! Quite a decline in a week.
At first glance this would seem to be just the Kiwi reacting to US dollar strength and commodity weakness in general. And falling against the USD like other currencies this week.
However the Kiwi has also been falling against other commodity currencies like the Aussie and Canadian dollars.
What Has Pushed the NZ Dollar Lower?
Who could know for sure? But a good bet may be the news in this Zerohedge article this week (hat tip to A.E. Thanks).
IMF Blasts New Zealand’s “Discriminatory” Ban On Home Sales To Foreigners
The Labour government policy on foreign home buyers is looking to be even harsher than first thought and the IMF didn’t think it necessary. Foreigners will only be able to buy new builds and off the plans if they re-sell within a year.
So this news may have been a factor in the lower dollar.
This reminds us of a podcast from Peter Schiff last October after the change in government here. Schiff is actually very knowledgeable on New Zealand politics and history. Far more than many New Zealanders would be.
He outlined why he thought the new Labour government may be harmful in the long run.
See from the 21.50m mark:
Peter Schiff on NZ Labour Government
Unsure About Any Terms We Use When Discussing 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 Type of Gold Bar Should I Buy? The Complete Guide to Choosing.
Here’s everything you need to know when you’re thinking of buying a gold bars. You’ll learn:
- When to choose gold bars over gold coins
- What size gold bar to buy
- Pros and cons of different gold bar sizes
- How you can borrow against 1kg gold bars
- What’s the most commonly purchased gold bar size
- Different brands of gold bars
Cast bars vs minted bars
Gold Backing to Debt Ratio: What Price Would GoldNeed to Be to Back US Debt?
In this article you’ll learn about the gold backing to debt ratio. And what the gold price would need to be at today to match two previous periods of debt reset.
There’s a short video but also a summary if you prefer to read…
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.
Have you got any other questions about buying gold bars or coins? Then get in touch – we’re happy to help.
Get in touch to discuss your options:
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Online order form with indicative pricing
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