This Week:
- Does Gold Seasonality Affect the NZ Dollar Gold Price?
- NZX50 Near Highs But This Indicator Says the NZ Economy is Slowing Sharply
- New Zealand in the News Around the World – For All the Wrong Reasons
Prices and Charts
Sharp Drop Today. Time to Buy the Dip
Gold priced in NZ dollars took a sharp fall today. Now down 1.5% on last week and well below the 200 day moving average. The price is now not too far above the $1800 mark, which has been the lower limit for all of 2018.
With the RSI now almost in overbought territory, it would not surprise us for this to be quite a short sharp fall. We could see the price bounce back quite quickly.
So this fall could be a great chance to buy the dip. You’ll be buying close to the lows we’ve seen so far in 2018.
NZD silver by contrast is still a way above the 2018 lows around $22.25 – despite falling 2.5% this week. There is of course a chance we could still see those low $22 levels reached. That would put the price near the uptrend line of the wedge formation. But we wouldn’t bet too heavily on it.
If you are yet to own any silver then right here would be a great place to start!
Kiwi Dollar Locked in Downtrend
The Kiwi dollar remains locked in a clear downtrend. However right now it is still below the 50 day MA and so could bounce a bit higher yet.
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:
Continues below
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Does Gold Seasonality Affect the NZ Dollar Gold Price?
With prices falling today, it is timely that we have updated an old article. As the July/August period is often when the lows for the year for gold and silver are recorded.
See whether this seasonality holds true for gold when priced in NZ dollars. We also look at silver where the trend is not so strong in recent years.
NZX50 Near Highs But This Indicator Says the NZ Economy is Slowing Sharply
The NZ sharemarket has continued powering higher this year. This is despite various very negative business confidence surveys since we had the change in government. Given the sharemarket is meant to be forward looking, why is this?
Mark Lister, head of private wealth research at Craigs Investment Partners reckons:
“Prospects for exporters have improved further in recent months, with the currency falling sharply against all major trading partners.
That’s a big positive for listed companies, many of which have substantial international operations. Unlike years gone by, it’s easy to find quality businesses on our sharemarket where more than half of revenues come from outside New Zealand.
These companies will be less concerned about slowing domestic growth. In fact, if it leads to a lower NZ dollar some will welcome it.
Another reason for the strength of our market is the ongoing attraction of high dividend paying shares. The higher proportion of utilities, infrastructure and property companies means the average dividend yield is about five percent per annum, higher in many cases.”
However he finishes up by saying:
“While things are buoyant for now, the true test will come during the corporate reporting season in August. That’s when we’ll find out if lower business confidence is a reflection of the real risk to share prices – falling profits.”
Source.
Well, just out this week was an indicator that isn’t based upon confidence surveys but actual numbers and it is showing a marked slow down.
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.
New Zealand in the News Around the World – For All the Wrong Reasons
Finally we have a summary of various bits of news we’ve collected from around the world in recent weeks. News that isn’t really so positive for New Zealand.
You’ll see:
- A foreign perspective on our government’s attempt to stem the tide on housing inflation
- Doug Casey on why Kiwi voters are “stupid”
- A Wall Street Journal article on why New Zealand could be at the forefront of the next crisis
Have you got your financial insurance yet? Remember it’s too late to buy insurance once the “house is on fire”.
With the prices of gold and silver dipping sharply today, now is a great time to take a position if you’ve been sitting on the fence.
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- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Shop Online with indicative pricing
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It’s interesting to read outsiders perspectives of what’s happening in New Zealand. The land of the long white cloud got a mention over recent months on various websites. The comments didn’t really fit under a particular heading. So we’ve just lumped them together here under the title “New Zealand in the News Around the World”. […]
The New Zealand share market index, the NZX50 reached a new all time high earlier this month of 9084.04. Today the index is only just down from all time highs at 8953. So surely this is an indicator of a robust economy? And given share markets are meant to be forward thinking, a sign that […]
If you’ve been around the gold sector for a little while you’ve no doubt come across talk of “gold seasonality”. (This article was first written in August 2014. Latest update July 2018). What is Gold Seasonality? Gold seasonality generally refers to the northern hemisphere mid summer lull in precious metals markets – which often […]
This Week: Problems with the RBNZ Bank Stress Tests The Problem with a Central Bank as Sole Issuer of Currency Maybe A Cashless Society is Still a Way Off Prices and Charts Looking to sell your gold and silver?Visit this page for more information Buying Back 1oz NZ Gold 9999 Purity $1764 Buying Back 1kg NZ Silver 999 Purity $715 NZD Gold Down Due […]
