New Zealand · NZD · June 2023
Gold Price in New Zealand — June 2023
In June 2023, the gold price in New Zealand closed at approximately NZ$3,025 per troy ounce, equivalent to NZ$1,134 per tola or NZ$97 per gram. This represents a -3.15% change on the month (NZ$3,123 open → NZ$3,025 close).
Open
NZ$3,123
per troy ounce
Close
NZ$3,025
per troy ounce
High
NZ$3,123
per troy ounce
Low
NZ$3,005
per troy ounce
All unit prices at June 2023 close — New Zealand
| Unit | Weight | Closing NZD price |
|---|---|---|
| Troy ounce | 31.1035 g | NZ$3,025 |
| Gram | 1.0000 g | NZ$97 |
| 10 grams | 10 g | NZ$973 |
| Kilogram | 1,000 g | NZ$97,256 |
| Tola | 11.664 g | NZ$1,134 |
Karat-purity breakdown at June 2023 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KNEW ZEALAND STD | NZ$97 | NZ$1,133 |
| 22K | NZ$89 | NZ$1,039 |
| 21K | NZ$85 | NZ$993 |
| 18K | NZ$73 | NZ$851 |
| 14K | NZ$57 | NZ$664 |
| 10K | NZ$41 | NZ$473 |
Daily gold price in NZD — June 2023
June 2023 gold market: Higher-for-longer rates weigh
BearishA hawkish 'skip' and resilient economy pressured gold.
Gold eased toward $1,920 in June as the Federal Reserve 'skipped' a hike but signalled more tightening ahead, and a resilient US economy pushed back rate-cut bets. Rising real yields gradually sapped the metal's momentum.
What drove gold in June 2023
- Fed pause but hawkish guidance
- resilient US economy
- rising real yields
- firm dollar
Key events in June 2023
- Jun 14Fed holds but projects more hikes; gold softens
What happened next
A cooler inflation print briefly revived gold in July before yields surged again.
For gold buyers in New Zealand
June marked the start of a summer grind lower as the market accepted that rate cuts were further off than hoped.
The 2023 gold market: Banking crisis and another record CB buy year
Silicon Valley Bank failed in March 2023, followed by Credit Suisse rescue. Gold rallied to $2,072 in May, then traded $1,820–$2,090 through year-end. Central banks bought another 1,037 tonnes — second-highest ever. Year close: $2,062.
Key drivers in 2023
Regional banking crisis, Credit Suisse failure, central-bank buying continues, persistent inflation
2023 XAU/USD high
$2,135 (Dec)
2023 XAU/USD low
$1,810 (Feb)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The New Zealand gold market
New Zealand retail gold prices are quoted in the local currency per gram for 24K and 22K purities, and per troy ounce for investment-grade bullion. Local rates usually sit above the international XAU/USD spot price after import duties, sales taxes, and jewellery making charges are applied. Use this archive as the international reference price; final retail rates depend on your dealer and the date's exchange rate.
Standard quote unit
gram
Common purity
24K
Currency
NZD (NZ$)
Daily gold price — June 2023, New Zealand
NZ$3,123
$1,974.40/oz
NZ$3,106
$1,963.30/oz
NZ$3,107
$1,964.06/oz
NZ$3,100
$1,959.70/oz
NZ$3,096
$1,957.30/oz
NZ$3,112
$1,967.40/oz
NZ$3,111
$1,966.40/oz
NZ$3,101
$1,960.30/oz
NZ$3,112
$1,967.02/oz
NZ$3,089
$1,952.90/oz
NZ$3,092
$1,954.40/oz
NZ$3,094
$1,955.80/oz
NZ$3,088
$1,952.40/oz
NZ$3,100
$1,959.80/oz
NZ$3,099
$1,958.81/oz
NZ$3,087
$1,951.20/oz
NZ$3,054
$1,930.50/oz
NZ$3,046
$1,925.70/oz
NZ$3,037
$1,920.10/oz
NZ$3,054
$1,930.70/oz
NZ$3,058
$1,933.40/oz
NZ$3,042
$1,922.90/oz
NZ$3,035
$1,918.90/oz
NZ$3,019
$1,908.40/oz
NZ$3,005
$1,899.60/oz
NZ$3,025
$1,912.30/oz
How New Zealand gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The NZD/USD exchange rate comes from exchangerate-api.com's 2023 year-end snapshot.
Conversion. Every NZD figure on this page is computed as XAU/USD price × NZD/USD rate. We use the year-end exchange rate consistently across all June 2023 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in New Zealand, add the country-specific levies described in the “New Zealandgold market” section above.
FAQ — New Zealand gold price in June 2023
What was the gold price in New Zealand in June 2023?
In June 2023, gold in New Zealand opened at NZ$3,123/oz and closed at NZ$3,025/oz — a move of -3.15% on the month. Per tola: ≈NZ$1,134; per gram: ≈NZ$97; per 10g: ≈NZ$973.
What was the 24K gold rate per tola in New Zealand in June 2023?
The 24K gold rate per tola in New Zealand at the June 2023 close was approximately NZ$1,134, derived from international XAU/USD spot of $1,912.30/oz times the 2023-end NZD/USD exchange rate of 1.5819. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in New Zealand in June 2023?
New Zealand's most-quoted retail standard is 24K per gram. At the June 2023 close, that worked out to approximately NZ$97 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
NZD prices on this page are computed from the verified international XAU/USD spot price for June 2023 (sourced from gold-api.com), multiplied by the 2023-end NZD/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The NZ$ figures here represent the international gold spot price converted to NZD at the 2023-end exchange rate. New Zealand's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in New Zealand? See live gold prices in New Zealand with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2023 archive or the USD-only June 2023 page with the country-by-country list at the bottom.
Other markets? Compare June 2023 prices across other major gold-trading countries: Australia, Singapore, Japan, United States, United Kingdom, Canada.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to NZD at the 2023-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in New Zealand before transacting.