In the interests of balance and transparency, I just thought I would provide an update on our quest to purchase our retirement property...
We are paying for this property solely with gold. So, for better or worse, the next 4 months may be interesting.
19/6/24 - NZD gold price per ounce = ~NZD$3,796 - Our offer to purchase another (& better) property was successful at $1,060,000 - Gold required to settle = ~279 ounces - Our current settlement date is 31 October 2024
I want to stress I am not trying to provide any negative or positive thoughts or comments....just the facts. I have come across so many people who just do not understand the relationship between currency and gold/silver - it staggers me actually.
By way of example, I had dinner with friends last night and their (approx 30 y/old) nephew is an Actuary. His father asked him whether he should buy gold and the Actuary son told him "Dad, gold is one of the worst investments you can make". You can imagine what I said to my friend!
