{"id":252929,"date":"2026-01-26T19:43:08","date_gmt":"2026-01-26T19:43:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/252929\/"},"modified":"2026-01-26T19:43:08","modified_gmt":"2026-01-26T19:43:08","slug":"nzx-flat-as-gold-roars-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/252929\/","title":{"rendered":"NZX flat as gold roars \u2013 Market close"},"content":{"rendered":"
The New Zealand dollar reached a three-month high against the American greenback, trading at US59.60c.<\/p>\n
The gold price increased 2.1% to a record high of US$5083 ($8521) an ounce, extending a historic rally as investors sought the safe-haven asset amid rising geopolitical tensions and global financial risks.<\/p>\n
Williamson said gold has had \u201cquite an amazing run and some analysts are saying it\u2019s not over yet. I guess the world uncertainty is boosting gold, but a number of central banks have been buying up gold and this underpins the rally\u201d.<\/p>\n
\u201cThere are a number of gold bulls out there, and some are saying: \u2018If you think you\u2019ve missed out on the rally, you are not too late\u2019.\u201d<\/p>\n
The gold price surged 64% last year, with China continuing its gold-buying spree for a 14th month in December and record inflows into exchange-traded funds.<\/p>\n
Goldman Sachs has lifted its year-end gold price forecast to US$5400 an ounce, up from US$4900, while another US commentator has said the price could reach US$6400.<\/p>\n
Santana slumps<\/p>\n
Back home, Santana Minerals, which wants to work the Bendigo-Ophir gold mine in Central Otago, fell 18.5c or 13.75% to $1.16 on trade worth $5.53m after a suggestion that the consenting process under the fast-track regime may take longer than expected.<\/p>\n
Submitters, including the Otago Regional Council, said that because of the complexities, technical issues and the many approvals still required, it is not possible to fast-track the mining permit in the time requested, or even in the extended time.<\/p>\n
The panel considering the application for resource consent has not yet confirmed the start of the hearing, although it was expected to be February 11.<\/p>\n
Fellow gold miner Manuka Resources increased 3c or 12.5% to 27c, benefiting from the surge in the gold price. Minerals Exploration was up 0.005c or 1.75% to 29c and New Talisman Gold Mines edged up 0.001c or 5.55% to 2.3c.<\/p>\n
Ebos Group gained 36c to $26.89. Williamson said the stock was firmer instead of selling off in the afternoon because of the lack of Australian sellers \u201cwho were at the beach\u201d.<\/p>\n
ANZ Banking Group declined 73c or 1.73% to $41.40; a2 Milk slipped a further 10c to $9.56; Freightways decreased 19c to $14.13; Port of Tauranga shed 7c to $7.90; and Briscoe Group was down 13c or 2.53% to $5.01.<\/p>\n
In the energy sector, Meridian was down 10c or 1.75% to $5.60 and Vector decreased 6c to $4.84, while Contact was up 11c to $9.36 and Mercury gained 2c to $6.37.<\/p>\n
Kiwifruit grower and packer Seeka was down 12c or 2.62% to $4.46; and Colonial Motor Co decreased 11c to $8.09.<\/p>\n
Market leader Fisher and Paykel Healthcare was up 29c to $38.95; SkyCity increased 2c or 2.11% to 97c; and Scott Technology was up 10c or 3.57% to $2.90.<\/p>\n
Winton Land gained 7c or 3.5% to $2.07; Green Cross Health rose 7c or 6.25% to $1.19; and ikeGPS was up 3c or 2.73% to $1.07.<\/p>\n