Record volumes of gold moved to New Zealand as investors seek haven

Oddjob

Oddjob

Well-Known Member
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Looks like they're not just bringing their shiny elite bodies to NZ....

https://www.stuff.co.nz/business/mo...-moved-to-new-zealand-as-investors-seek-haven

Record volumes of gold moved to New Zealand as investors seek haven

Jonathan Milne of Newsroom.co.nz

10:36, May 17 2021

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Customs figures reveal an unprecedented $242 million in gold was imported to New Zealand in the past 12 months, as the world's wealthy seek the security of the world's oldest investment product (file photo)

Risk-averse international investors are thought to be flying in their gold to stash it in a discreet, high-security vault near Auckland's international airport.

Customs figures reveal an unprecedented $242 million in gold was imported to New Zealand in the past 12 months, as the world's wealthy seek the security of the world's oldest investment product. Most came from Australia ($127m) but there was also $46m from the US and $16m from Japan, in the 12 months to March. Last year, in July alone, $30.2m was shipped across our borders. Then January this year topped it with a record $35.6m.

As the spot gold price pushes above US$1800 an ounce Jordan Eliseo from the Perth Mint is seeing plenty of speculative positioning with investors seeking exposure in ETFs. Those in the industry said there were small amounts being imported by manufacturing jewellers, but most was being brought in as an investment product, in gold bars or gold coins.

NZ Mint chief executive Simon Harding said there had been a material increase in demand for gold bullion. Some of that might be brought back by repatriating New Zealanders – that's not entirely impractical, given a kilogram of gold is worth NZ$80,000 but is as compact as a small cellphone. “You'd pay a bit of excess baggage, but you could probably afford it,” he laughed.

For full article click link : https://www.stuff.co.nz/business/mo...-moved-to-new-zealand-as-investors-seek-haven
 
Seeing how close NZ is with china these days, why would any one think nz is a safe haven?, they seem like they would do a french and surrender, and hand it all over to the chinese.god knows they cant defend them selves against anything, as they gave up most of their armed forces years ago, and the way they have been slagging oz off lately you have to wonder why we would even bother other than for stategic reasons

I like the kiwis but by god their government is hopefless
 
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^^^^^^^^^
Just one thing to consider with Bullionstar. They are in the Wellington CBD and Wellington sits on a major earthquake fault line. Bullionstar are on the wrong side of Lambton Quay (one of the main roads through Welly CBD). In 1855 Lambton Quay was the waterfront in Wellington, then a major earthquake hit that part of the fault line and the seabed in front of Lambton Quay was lifted a few meters up to create what is now centre of the Welly CBD with Bullionstar are. ...what can come out of the ocean can also go back in including anyone's PM's at Bullionstar. :eek:

Stick with Auckland, no earthquakes to worry about, just volcano's and the "Muss" upload_2021-6-2_18-6-50.jpeg . :D
 
Does NZ have one of those unique high end airport storage facilities that are popular in some countries where people store extremely valuable items? These facilities are located within the customs zone at these airports so the goods are never actually imported into the country - They are stored without taxes and can then be flown back out without having ever entered officially into the storage country as they never get as far as customs. The very wealthy store art works, high end wines, jewellery and such in them. They are very expensive but the cost is just relative if the stored goods in your space are with tens or hundreds of millions of dollars.

Personally I don’t regard NZ as an especially safe haven - it has a socialist government that is in financial trouble and like Australia will likely face a Chinese military invasion in the next decade.
 
Shaddam IV said:
Does NZ have one of those unique high end airport storage facilities that are popular in some countries where people store extremely valuable items? These facilities are located within the customs zone at these airports so the goods are never actually imported into the country - They are stored without taxes and can then be flown back out without having ever entered officially into the storage country as they never get as far as customs. The very wealthy store art works, high end wines, jewellery and such in them. They are very expensive but the cost is just relative if the stored goods in your space are with tens or hundreds of millions of dollars.

Personally I don’t regard NZ as an especially safe haven - it has a socialist government that is in financial trouble and like Australia will likely face a Chinese military invasion in the next decade.
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Sounds like it. "Risk-averse international investors are thought to be flying in their gold to stash it in a discreet, high-security vault near Auckland's international airport."
 
Shaddam IV said:
Does NZ have one of those unique high end airport storage facilities that are popular in some countries where people store extremely valuable items? These facilities are located within the customs zone at these airports so the goods are never actually imported into the country - They are stored without taxes and can then be flown back out without having ever entered officially into the storage country as they never get as far as customs. The very wealthy store art works, high end wines, jewellery and such in them. They are very expensive but the cost is just relative if the stored goods in your space are with tens or hundreds of millions of dollars.

Personally I don’t regard NZ as an especially safe haven - it has a socialist government that is in financial trouble and like Australia will likely face a Chinese military invasion in the next decade.
Click to expand...

Bit beyond my current lifestyle means.. however, I did feel safe in Switzerland airport toilets. Even those things were built like giant safes.
 
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