What is Causing the Falling NZD Gold Price?

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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.

NZD Gold Chart

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