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Author: Digital Stream Ltd
China’s gold buys, the limp US$ and conflicts mean gold is “hot”.
By Tony Coleman, Director, New Zealand Gold Merchants
The People’s Bank of China has led other central banks in steadily converting much of their cash holdings into gold bullion – a trend which has ramifications for the world.
Amidst geopolitical uncertainty and market volatility, gold stands out as a steadfast asset.
Traditionally a “safe haven” during turbulent times: one would expect the price of gold to increase when the economic outlook is bleak, and stabilise in times of economic optimism.
A message from Tony Coleman, Director
Our business is still operating
The lockdown has had an impact on our business, with the refining and manufacturing operations temporarily closed during Level 4, meaning we have had to import more gold and silver products than we usually would and are experiencing a backlog in fulfilling orders.
In December I wrote that I believed 2020 was going to be another strong year for New Zealand Dollar priced gold, and as yet I haven’t been disappointed.
From a market close at Christmas 2019 of $2245/oz gold to the time of writing, gold has just pushed through $2633/oz (up 17.2% as at 24/2/2020).
Bite sized money matters: Negative interest rates
“Negative interest rates are a legacy of the 2008 financial crisis. By bailing out insolvent banks and then allowing them to lever up 100x higher than before the crisis; the only recourse global central banks have now is to slow-default on trillions of debt via negative rates.” Max Keiser via Twitter @maxkeiser July 29, 2019
We are excited to soon be launching a beautiful range of pendants, chains and rings crafted from ethically sourced 24 karat gold or platinum.
These unique pieces will be sold on the basis of the current gold or platinum price, which means they wont attract GST like purchasing from a jeweller does – making it a smart way to purchase an investment piece.
Continue reading Coming soon – our exclusive new investment jewellery range