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Thursday, 16th October 2008 (2698 views)

New Zealanders are rushing to acquire gold as a safety net against the global financial crisis, it has been reported.

The country's mint has stated that it has experienced record levels of demand after the collapse of US investment bank Lehman Brothers, according to Radio New Zealand.

Homes safes and vaults are also increasing in popularity as more people store their precious items at home in the wake of troubles in the banking sector, the news provider noted.

Bullion trader Mike O'Kane told the source that the mint is now selling a normal month's supply in a single day.

Customers want to protect their money by investing in gold as it is "tangible and will not disappear", the radio station quoted him as saying.

Recently the New Zealand Mint unveiled a new range of gold coins featuring the Bounty, a ship that was used to populate the Pitcairn and Norfolk islands of the country.

 

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