The Dominium Post: NZ gold market gains momentum

New gold dealers are entering the market spurred by rising interest in bullion from mum and dad investors.

Equity Investment Advisers (EIA), which usually advises its clients on investment products such as shares, bonds, and unit trusts, has started offering gold as an investment option through a partnership with a local bullion trader.

EIA has always provided advice on investing in goldmining company shares and in investment trusts which invest in gold but until recently had little demand from its clients to buy the metal itself.

"When it [the gold price] was going up, there wasn't much interest," EIA managing director Brent King said.

But that changed following the dramatic slump of the gold price in April. "Recently, we've noticed a lot of clients are wanting to talk to us about gold. It's counter cyclical , they think it looks a bit cheap now," he said.

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