The Growth of NZ Gold Merchants: A Family Legacy
NZ Gold Merchants has established itself as a key player in the precious metals market, earning a 2% margin from refining gold and silver. This process involves melting down scrap metals and separating valuable gold and silver from other metals like copper.
The business was founded in 1975 by Bruce, a skilled metallurgist. In its early days, the company mainly focused on silver. Over the last 30 to 40 years, it has sold an impressive 1,000 tonnes of silver in New Zealand. While Tony, Bruce’s son, admits he’s not sure where all that silver ended up, he is confident that it will return to the market when prices rise.
In 2006, Tony and his business partner Richard expanded their operations to include gold, capitalizing on a time when gold prices were around US$650 per ounce. Fast forward to today, gold prices have soared to approximately US$3,200 per ounce after a significant rise of more than 5% in April.
Tony noted, "Gold tends to react to global uncertainty and geopolitical pressures," which underscores its appeal as a safe investment during turbulent times.
For an inside look at the Colemans’ multimillion-dollar gold and silver operation, tune in to the latest episode of "Markets with Madison."
Investment Insights
For more investment insights from industry professionals, catch "Markets with Madison" every Monday and Friday on multiple platforms, including YouTube.
Disclaimer: The information shared in this program is general and should not be considered personalized financial advice. It’s always best to consult with a qualified expert to address your specific circumstances.
Madison Malone, host and executive producer of "Markets with Madison," joined the NZ Herald in 2022, bringing a wealth of experience from the investment sector and covering business and economics for various media outlets.
