Gold and Silver Price Action
Given the big bounce that occurred last Tuesday/Wednesday, it’s no surprise we are down on prices of a week ago. Gold in NZ Dollars currently sits at NZ$1900.86 versus NZ$1957 last week.
Silver is today priced at NZ$34.61 per ounce down from NZ$35.62 last Wednesday.
NZD Gold having dropped below the support of $1950 tested this last week but hasn’t managed to hold above that level. So you can see in the short term chart below, we remain in this downward channel.