{"id":263533,"date":"2026-02-02T06:02:08","date_gmt":"2026-02-02T06:02:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/263533\/"},"modified":"2026-02-02T06:02:08","modified_gmt":"2026-02-02T06:02:08","slug":"gold-and-silver-volatility-weighs-on-nz-sharemarket-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/263533\/","title":{"rendered":"Gold and silver volatility weighs on NZ sharemarket – Market close"},"content":{"rendered":"

\u201cThe nomination of Kevin Warsh as the next Federal Reserve<\/a> chair and the partial shutdown of the US government has added to the nervousness,\u201d Lister said. <\/p>\n

\u201cThe reversal in gold and silver and crypto certainly spooked investors. And we have 120 companies on the S&P 500 reporting this week including Amazon and Alphabet (owner of Google).\u201d<\/p>\n

On Wall Street, the Dow Jones Industrial Average was down 0.36% to 48,892.47 points; S&P 500 decreased 0.43% to 6939.03; and Nasdaq Composite declined 0.94% to 23,461.82 over the weekend NZ time.<\/p>\n

President Donald Trump\u2019s nomination of Warsh is seen as being hawkish towards interest rates. A former Fed governor, Warsh is viewed as less inclined toward aggressive rate cuts and more focused on containing inflation, US commentators said.<\/p>\n

Gold plummets<\/p>\n

The gold price has fallen from a high of US$5450 to $4726.5, silver from $117.63 to $81.9, and bitcoin from $96,151 to $76,012. The gold and silver prices suffered their biggest one-day drop since 1980.<\/p>\n

Across the Tasman, the S&P\/ASX 200 Index had declined 1.04% to 8776.9 points at 6pm NZ time, and, further afield, the Japanese Nikkei 225 was down 0.57% to 53,016.77 and the Hong Kong Hang Seng had fallen 2.4% to 26,730.78.<\/p>\n

At home, Contact Energy gained 13c to $9.48; Auckland International Airport was up 13c to $8.39 on trade worth $11.45m; Summerset rebounded 13c to $11.70; and Ebos Group collected 17c to $25.88.<\/p>\n

Colonial Motor improved 13c to $8.50; and Blackpearl Group increased 5c or 4.5% to $1.16.<\/p>\n

KMD Brands, down 1c or 3.64% to 26.5c, reported a 7.9% increase in sales for the five months ending December 25, with Rip Curl up 5.6%, Kathmandu gaining 12.9% and Oboz up 4.5%.<\/p>\n

For the 23 weeks ending January 4, Kathmandu same-store sale<\/a>s rose 12.7% and Rip Curl was up 1.7%. KMD expects first-half operating earnings (ebitda) of $8m-$11m compared with the previous first half $3.9m.<\/p>\n

Net debt at the end of January was expected to be $85m-$90m compared with $76.2m because of the weakening NZ dollar.<\/p>\n

Lister said KMD\u2019s update was slightly better than expected but it was a down day on the market and its share price weakened nonetheless.<\/p>\n

Other retailers Briscoe Group decreased 7c to $4.92, and Hallenstein Glasson was down 2c to $9.88.<\/p>\n

Freightways buys Aussie firm<\/p>\n

Freightways, decreasing 25c to $14.35, has completed the $81m purchase of Victorian-based VT Freight Express and is expanding its presence in the Australian express delivery market.<\/p>\n

In the property sector, Goodman Trust decreased 3c to $1.905, and Stride was down 2.5c or 1.98% to $1.24.<\/p>\n

Other decliners were Mainfreight down 65c to $66.50; Gentrack decreasing 34c or 4.46% to $7.29; Port of Tauranga easing 10c to $7.91; Tourism Holdings shedding 6c or 2.33% to $2.51; SkyCity losing 1.5c to 91c; and Vulcan Steel down 13c to $8.01.<\/p>\n

AFT Pharmaceuticals fell 16c or 4.24% to $3.61; Vista Group decreased 6c or 3.23% to $1.80; Delegat Group was down 8c or 1.79% to $4.40; NZX shed 4c or 2.66% to $1.465; and Minerals Exploration declined 1.5c or 5.45% to 26c.<\/p>\n

Fast-track news<\/p>\n

Manuka Resources shed 2c or 8.7% to 21c after telling the market it was expecting the fast-track environmental consents decision for its vanadium concentrate extraction project off the coast of Taranaki on March 18.<\/p>\n

The company said in its quarterly report that the project was forecast to generate $854m export revenue a year, representing more than 50% of the targeted increase in mineral exports and making it one of the country\u2019s top 12 exporters.<\/p>\n

TradeWindow was down 1c or 3.85% to 25.9c after launching a share purchase plan<\/a> to raise $1m at 25c a share. The transport and logistics software firm had earlier raised $5.7m through a placement of shares.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe nomination of Kevin Warsh as the next Federal Reserve chair and the partial shutdown of the US…\n","protected":false},"author":2,"featured_media":263534,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2851,95,4236,651,15293,6097,86829,15248,4241,225,111,43,139,69,90,3236,1125,203,7457,1361,5619,22390,72809,25592,80],"class_list":["post-263533","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-also","tag-and","tag-bitcoin","tag-close","tag-continued","tag-down","tag-engulfed","tag-falls","tag-gold","tag-market","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-on","tag-overseas","tag-sharemarket","tag-sharp","tag-silver","tag-that","tag-uncertainty","tag-volatility","tag-weighed","tag-weighs","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/263533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=263533"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/263533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/263534"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=263533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=263533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=263533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}