Prices and Charts
NZD Gold Challenges 12 Month High Mark Yet Again
Gold in NZ dollars did indeed break out of the short term wedge formation we said to watch for last week. It gapped higher from there and touched the $2700 support line before dropping down to back fill the gap up. This $2700 is the 12 month high, which gold also touched in June and November.
We could be wrong (not afraid to admit we often are!), but our guess is that gold might well test this $2700 mark again before too long. That will be a key break to watch for and will signal higher prices to come.
NZD Silver Look Like It’s Bottomed
Silver in NZ dollars is up over 2% this past 7 days. It bounced off the blue horizontal support line at $32 and looks like it might have bottomed there. Now we are watching to see if silver can get clearly above the 200 day moving average (MA),
NZ Dollar Bouncing Off Downtrend Line
The Kiwi dollar is up 24 basis points from last week. But during the week it again dipped down to touch the downtrend line. With the RSI moving out of oversold we could expect to see the NZ dollar gain a little from here. But it clearly is in a downtrend right now.
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:
—– OFFER FROM OUR SISTER COMPANY: Emergency Food NZ —–
Long Life Emergency Food
These easy to carry and store buckets mean you won’t have to worry about the shelves being bare…
Free Shipping NZ Wide*
Get Peace of Mind For Your Family NOW….
Investment: Is Gold better than Property, Shares and Digital Currencies?
We don’t try to convince anyone to not invest in other sectors. Rather we take the view that gold and silver aren’t investments. They are savings or stores of wealth. Investing is what you do with the rest of your currency you don’t want to put into precious metals.
So this week we take a comparison between gold, property, shares and digital currencies.
Why Buying This Year is Better Than Waiting Until Next Year
History and the chart of gold in NZ Dollars below, shows that you’re better off buying this year, than waiting for next year.
As in 10 of the last 11 years buying towards the end of one year saw the gold price higher at the end of the following year (see the green arrows).
Note: This year could go either way. Right now we are very close to the price that gold started 2021 at. So what happens in the next 8 days will have a big bearing on whether we can also add this year to those 10 years where gold finishes the year higher than it ended the previous year.
Watch for Low Volume Price Spikes over Christmas and New Year
Also keep an eye out for sharp drops in the price of gold and silver over the low volume Christmas and New Year holidays. In 8 of the last 12 years we have seen the gold price fall sharply around this time (see the green ellipses). Therefore also making it a good time to buy gold and silver near the end of the calendar year. Will 2021 prove to be the same? We haven’t seen this occur for the last 3 years, so maybe it’s not so likely this year? But who knows so keep an eye out in case you get a chance to buy at lower prices.
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.
Holiday Trading Times
The only fly in the ointment to buying if the price drops during the holidays, is that we have fewer options. Local refiners are closed from midday 23 December through until 10th January. However we can again lock orders in from the 3rd January. Your orders remain insured and stored within the vaulting system until they are collected or dispatched in the new year.
However our offshore suppliers remain open, apart from around Christmas/Boxing days and New Year. So still some options during the holidays, just limited in products available and order sizes of only above $8000. Just get in touch if you’d like a quote and we’ll get back to you as soon as markets are open and we can lock orders.
Thank you for your continued support and patience during 2021.
This will be our last weekly update for 2021. So we wish you and your family a happy holidays in these crazy, crazy times. Despite what is going on we hope you enjoy some sunshine and outdoors. As after all the best things in life are free and not controlled by the government either. Look out for the next weekly update on the 12th January.
- Email: [email protected]
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
— Prepared for the unexpected? —
Never worry about safe drinking water for you or your family again…
The Berkey Gravity Water Filter has been tried and tested in the harshest conditions. Time and again proven to be effective in providing safe drinking water all over the globe.
This filter will provide you and your family with over 22,700 litres of safe drinking water. It’s simple, lightweight, easy to use, and very cost effective.