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New Zealand Dollar and Gold Prices

Australia is the number one destination for New Zealand exports. When the Australian dollar is strong due to gold prices, New Zealand will export more to their number one trading partner - due to the increased purchasing power of the Australian dollar. But, when the Australian dollar weakens, New Zealand exports tend to decrease. However, the relationship is even more interesting where exchange rates are concerned because the New Zealand dollar has an even stronger correlation with gold prices than does Australia - despite the fact that it does not produce near as much of the yellow metal as its neighbor.