Gold Analysis & Opinion - A Culture of Gold - One of the most important elements of Eastern gold demand is that it is not limited to educated investors or the higher classes, as often seems to be the case in the West.
Throughout Asia, no matter one's social status, precious metals are the first assets people choose to protect their wealth. There is not even a glimmer of doubt about the enduring value of hard money.
Selling gold that has yet to be mined to lock in a fixed price - a practice used by mining firms that went out of vogue as prices surged - may make sense for them again after a more than 20 percent drop in prices this year.
Hedging, or selling production forward, shields mining companies from falling prices but stops them benefiting from gains. It fell out of favour during gold's 12-year bull run, which peaked in 2011 with prices near $2,000 an ounce.
The New Zealand dollar slipped to a four-day low against the euro after the European Central Bank indicated it has moved to a more neutral stance after cutting interest rates last month.
The kiwi dropped as low as 59.77 euro cents early this morning and was trading at 60.12 cents at 8am in Wellington from 60.40 at 5pm yesterday. The local currency edged up to 82.16 US cents from 82.07 cents yesterday.
Charts and pricing available
Weekly averages going back to 1990 for gold and silver.
Live charts for the past 24 hours and 25 working days.
Full Pricing for all bullion products. You must be registered to view (registration is FREE).
New Zealand Mint endeavors to make buying and selling gold and silver as straightforward as possible. However, we do not provide financial advice nor do we employ financial advisors. If you are looking for investment advice, please seek independent, specific advice from a qualified professional.