According to the customs department of Auckland International Airport, over the past 12 months, gold worth a total of $242 million has been imported into New Zealand. Most of the precious metal was brought into the country by international investors, who, fearing economic risks, transferred their savings to a protective asset. Gold is stored in the New Zealand Depository, which is located in southern Auckland, near the airport.
In January of this year alone, deliveries to the country of yellow metal reached a record volume of 432 kg in the amount of $35.6 million. Most of the gold was imported in the form of investment products: bullion and coins. Smaller volumes are imported by jewelers. Dragmetall is delivered to the country by air transport and is usually insured. Based on data on the volume of gold imported for the year, it can be said that most investors come from Australia (total volume -127 million dollars). Investors also come from the United States ($46 million) and Japan ($16 million).
Simon Harding, executive director of the New Zealand Mint, said the demand for physical gold has increased significantly. The transportation of gold around the world takes place in huge volumes. We are talking about indicators that can be compared only with the trade in bitcoins. Gold exchange funds and shares of extractive companies "drive" yellow metal around the world, since they need to keep it in certain repositories. There are only 3-4 companies in the world that specialize in gold transportation.
Michael O'Kane, chief executive of the New Zealand Depository, believes investors are moving their gold to safety because they are wary of geopolitical uncertainty between China and Hong Kong. Hong Kong once stored a large amount of world gold. At the moment, it has become uncomfortable for many to store their precious metal there. Before the start of the military conflict between Israel and Palestine, many kept gold in Dubai. However, investors now see New Zealand as one of the safest countries in the world. The New Zealand Depository has a high degree of protection.
Sharon Zollner, chief economist at Australia and New Zealand Banking Group, the largest international bank, is confident that investors gain stability through gold in uncertain times. The surge in public debt in many countries is financed by an increase in the money supply, raising concerns among many investors about future paper-money inflation. At the same time, gold has been an ideal haven for capital throughout its history.