Chart watch: Gold off its highs

The price of gold, in NZ$, has been steadily falling since February 20, when it reached it all-time high of NZ$1,940 per troy ounce. It is now at about NZ$1,625/oz It had risen steadily in NZ$ from about NZ$1,150 in September 2008, a level it had been for all of 2008 until then. Silver is on a similar track. Platinum has not regained its early 2008 highs.

In US$, gold is starting to meander in the US$920 level. Gold prices are recorded from the afternoon London fix. Our precious metal charts are updated weekly with daily rates in both US$ and NZ$, as are our separate charts for copper and aluminium.