GOLD

[peat]

we've discussed it here on this forum a while back, I presume in this thread but I couldnt find it on a quick search. but a poster said he had travelled through customs with quite a number of gold coins no problem. The $10,000 currency limit does apply but the coins are valued at their nominal value not their gold value. most gold coins have a nominal value tho not all do. eg if it was a $50 gold oz you could carry in 200 of them

[TTrader]

Alright as it is only a few coins I am not to worried am still waiting a call from someone at AirNZ to confirm.

[Aussie]

Alright as it is only a few coins I am not to worried am still waiting a call from someone at AirNZ to confirm.

TT, the poster Peat is referring to may have been me . . .

Firstly, I would NOT contact anyone at Air NZ and disclose any information about what you are carrying or what flight you are on. The best security you have in carry PM's is complete anonymity. Nobody can steal what they do not know about. While Air NZ is a great company full of mostly honest people, you don't know who is on the other end of the phone and who they may later talk to . . .

You need to understand and be confident in the fact that there is absolutely NOTHING illegal about traveling with gold. People seem to think they are sneaking something or getting away with something illegal. Have no such fear.

About 2 years or so ago, I bought 72 Kangaroos from Jaggards in Sydney and flew back to NZ with them. I have made this kind of trip several times before without incident but on this particular trip I was stopped at the security area in SYD and asked for my bag to be opened. I indicated that I was carrying valuables, and asked if we could move to a private room for the search. The security officers could not have been nicer or more obliging. They made sure they had two officers present and that my wife was also present so there could be no issues of impropriety. After opening the bag and seeing the sealed rolls of coins at the bottom, they smiled and said "no problem". One of the guys even mentioned that he was a silver collector and wished us well. They were looking for drugs, they could care less about gold.

On arrival in AKL there were no issues. There is no GST on .999 gold or silver so there is nothing to worry about. Just be careful to keep the gold in your personal possession (carry on bag) at ALL times and exercise common sense and you will be fine.

Cheers

[TTrader]

TT, the poster Peat is referring to may have been me . . .

Firstly, I would NOT contact anyone at Air NZ and disclose any information about what you are carrying or what flight you are on. The best security you have in carry PM's is complete anonymity. Nobody can steal what they do not know about. While Air NZ is a great company full of mostly honest people, you don't know who is on the other end of the phone and who they may later talk to . . .

You need to understand and be confident in the fact that there is absolutely NOTHING illegal about traveling with gold. People seem to think they are sneaking something or getting away with something illegal. Have no such fear.

About 2 years or so ago, I bought 72 Kangaroos from Jaggards in Sydney and flew back to NZ with them. I have made this kind of trip several times before without incident but on this particular trip I was stopped at the security area in SYD and asked for my bag to be opened. I indicated that I was carrying valuables, and asked if we could move to a private room for the search. The security officers could not have been nicer or more obliging. They made sure they had two officers present and that my wife was also present so there could be no issues of impropriety. After opening the bag and seeing the sealed rolls of coins at the bottom, they smiled and said "no problem". One of the guys even mentioned that he was a silver collector and wished us well. They were looking for drugs, they could care less about gold.

On arrival in AKL there were no issues. There is no GST on .999 gold or silver so there is nothing to worry about. Just be careful to keep the gold in your personal possession (carry on bag) at ALL times and exercise common sense and you will be fine.

Cheers

Hello Aussie and thanks, I am aware of the situation and the risks involved. I have simply queried whether a private screening can be done using business class seats.

[Dr_Who]

Interesting to see gold holding up so well with the rally of the market.

I assume the Chinese and Indians are gold lovers and buy gold when they are wealthy. Also the Chinese govt are buying gold to up their reserve.

[TTrader]

Article Over At MarketWatch (6th May 2009)

ANNANDALE, Va. (MarketWatch) -- Gold has frustrated both the bulls and the bears over the last couple of weeks, as bullion has remained within a fairly narrow trading range.

http://www.marketwatch.com/news/stor...-A8ACDBCE57BA}

[arco]

Interesting to see gold holding up so well with the rally of the market.

I assume the Chinese and Indians are gold lovers and buy gold when they are wealthy. Also the Chinese govt are buying gold to up their reserve.

China are only No.7 in their holdings with 1054 tonnes, whereas USA are No.1 (if you can believe the figures) with a massive 8133 tonnes

Chart here

[Aussie]

China are only No.7 in their holdings with 1054 tonnes, whereas USA are No.1 (if you can believe the figures) with a massive 8133 tonnes

Chart here

Thanks for the bullish article Arco. He seems like an impassion-ate fellow . . . I notice that Australia and NZ don't even figure on that chart. Not even close. From memory I think Peter Costello sold 2/3 Australia's gold reserves several years ago leaving them with about 84 tonnes. I expect that NZ's holding would be far lower than that.

http://www.gold-eagle.com/analysis/aftermath.html

The question that I keep asking and no-one seems to have an answer or even a theory on is . . . if the USD has a crash or a "disorderly decline", what happens to the AUD & NZD as both the RBA & RBNZ as far as I know has reserves made up primarily of USD instruments like Dollars, Treasuries and probably US Agency debt.

Anyone wanna take a stab?

[peat]

http://broadcast.ino.com/education/g.../?campaignid=3

[lakedaemonian]

Thanks for the bullish article Arco. He seems like an impassion-ate fellow . . . I notice that Australia and NZ don't even figure on that chart. Not even close. From memory I think Peter Costello sold 2/3 Australia's gold reserves several years ago leaving them with about 84 tonnes. I expect that NZ's holding would be far lower than that.

http://www.gold-eagle.com/analysis/aftermath.html

The question that I keep asking and no-one seems to have an answer or even a theory on is . . . if the USD has a crash or a "disorderly decline", what happens to the AUD & NZD as both the RBA & RBNZ as far as I know has reserves made up primarily of USD instruments like Dollars, Treasuries and probably US Agency debt.

Anyone wanna take a stab?

That's the approximately 20.50 kilo question

Short-term, I have absolutely NO idea whatsoever.

My GUESS for gold over the next 5+ years is US$2k+ as I think it will have to play some sort of role in the transition to "what's next".

I think that as inflation kicks into high gear our commodity exports will help prop up currency values.....but I worry a good bit about our lack of savings and a reliance on foreign funds weighing heavily on the Kiwi.

I've been thinking that the lesson learned from the Great Depression is to try and avoid barriers to trade.......but will we suffer from barriers to credit?

If banks are being nationalized.........how will citizenry feel about lending to foreigners?

Guessing on the Kiwi portion of the gold equation equilibrium "feels" like .60c against the USD...round about where we are right now.

But in the next couple of years I wouldn't be suprised to see us head a good bit lower again.....under .50c for a bit....when, how long, and how low? who knows :|

I view gold not as a speculative opportunity, but as an opportunity to retain liquidity, protect against inflation, preserve our purchasing power, and preserve capital to be deployed once we get to the other side of this ongoing mess.

Just my 0.02c