Wednesday, June 12, 2013

House Prices in New Zealand v Gold, May 2013

In May, 2013, the gold ounce to house price ratio has moved in favour of gold. It now takes 2 gold ounces less to buy the median priced Auckland house than it did in April, and 5 ounces less to buy a median priced house in New Zealand.



I was correct in calling for weaker house prices v gold in May. How will it pan out for June? Likely to get better for those who hold gold again.

Gold in New Zealand dollars: $1742.82 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $27.59 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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