With the price of gold catching more media attention lately, it’s probably a good time to explain why there is a difference between the price the caller has heard (or read) and the price we give over the phone. Occasionally the price I give is lower and therefore the difference works in the callers favor. But, more often than not, the price is higher and here are the 3 main reasons why:
Gold, like other commodities traded on the global market, uses the US Dollars as a standard unit of value. This is therefore the currency you will most likely encounter the price of gold in.
When you contact us we will quote you in NZ Dollars, as this our local currency. We can quote and accept payment in AUD, NZD or USD if requested.
Gold markets are open almost 24/7; this supply and demand causes the price to change constantly. By the time you’ve heard the price in the main stream media it will have moved. A possible exception to this may be pricing found on the internet, although even these charts may be delayed.
We buy and sell our bullion investment products using live market pricing. When you call us we will be quoting the current (live) rate to buy or sell.
You may have heard the price given as the “spot price” or “spot rate for gold or silver”. When you purchase from us you are buying a precious metal that has been manufactured into a tradable form. To cover the cost involved in manufacturing we charge a premium above spot.
When you contact us the price we quote includes the premium. We are more than happy to run through spot prices and premium rates with you when you call.
Taking you first look into bullion investment? We are very happy to help you with your questions. Please feel free to contact us by calling 0800 696 468, by sending us an email or, if you login to our website, by using Live Help.
DISCLAIMER: New Zealand Mint does not provide financial advice and does not employ financial advisors. Any opinions expressed within news articles are not intended as recommendations. If you are looking for investment advice, please seek independent, specific advice regarding your personal financial situation from a qualified professional.
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