ANSWER by Mary Holm (finance journalist):
In these trying times we all get a bit testy occasionally. And I take your point — perhaps the gold chart should have been in NZ dollars.
But, as I was trying to point out, during the period the correspondent was looking at there had been a big drop in the kiwi dollar versus the US dollar. So a lot of his gold gains were in fact currency gains. The chart removed that effect, and looked at just what happened to gold itself.
What's more, everyone always quotes gold prices in US dollars. If you look at the Markets page in this section of the paper, you'll see gold listed in American, not kiwi dollars. And on the radio they give the gold price in US dollars, often without even labelling it as such.
But okay, let's look at the New Zealand dollar story — although not over 12 months. You can't conclude anything over such a short period. How about the last 20 years?
According to goldprice.org, over that period, up to last Wednesday:
• The price in US dollars has risen 524 per cent.
• The price in NZ dollars has risen 401 per cent.