How to Invest Your KiwiSaver in Gold and Silver
Updated October 2025 — by Adam Stewart, Compound Wealth
Many New Zealanders are looking for ways to protect their wealth against inflation, currency debasement, and market volatility, and gold and silver often come up in that conversation. Traditionally, KiwiSaver investors have had very limited ways to gain exposure to precious metals.
Most mainstream KiwiSaver schemes offer only standard conservative, balanced, or growth portfolios, with no option to hold gold or silver directly or through listed funds. That has now changed.
Through the KiwiWRAP KiwiSaver Scheme, you can build a bespoke KiwiSaver portfolio that includes exposure to gold and silver using globally listed ETFs that are backed by physical bullion or by leading mining companies.
Why Gold and Silver?
Gold and silver have been trusted stores of value for centuries. Both can act as a hedge against inflation and monetary instability, helping investors preserve purchasing power when markets are volatile or currencies weaken.
While neither metal pays income, they can serve as a stabilising force in a diversified long-term portfolio. Gold is often viewed as the ultimate wealth reserve, while silver has both monetary and industrial uses, giving it a slightly different risk and return profile.
Over the long term, however, gold has delivered lower total returns than global equities. According to Morningstar data cited by CNBC in October 2025, gold returned around 7.9% per year over the past 30 years, compared to 10.7% for the S&P 500 and 8.9% for global real estate.
This reinforces gold’s role as a portfolio diversifier and store of value, not a replacement for growth assets like shares. For KiwiSaver members seeking diversification beyond traditional shares and bonds, adding a modest allocation to gold or silver can provide balance and long-term resilience.
How KiwiWRAP Works
The KiwiWRAP KiwiSaver Scheme is an open-architecture platform that allows investors to choose from more than 400 global securities, ETFs, and funds, far beyond the limited range offered by most retail KiwiSaver providers.
This means you can design your own KiwiSaver portfolio, including allocations to:
Gold-backed ETFs such as the SPDR Gold Trust or iShares Gold Trust
Silver-backed ETFs such as the iShares Silver Trust
Gold and silver mining ETFs such as the VanEck Gold Miners ETF or Amplify Junior Silver Miners ETF
Diversified equity, fixed income, and cash holdings
All investments are held in your own name via the custodian under the KiwiWRAP KiwiSaver structure, which is fully compliant and regulated in New Zealand.
For a full list of available securities, please refer to the latest Investment Options Supplement available at https://www.kiwiwrap.co.nz/documents/.
Ways to Add Gold and Silver to Your KiwiSaver
There are several ways to gain exposure to gold and silver through KiwiWRAP. Please see some examples below:
SPDR Gold Trust (GLD - Tracks the spot price of gold bullion, less fund costs. GLD is backed by physical gold bars stored in London vaults by HSBC Bank USA. This is the most direct way to gain gold exposure within KiwiSaver.
iShares Silver Trust (SLV) - Tracks the spot price of silver bullion. SLV holds physical silver bars in secure vaults and provides investors with direct exposure to movements in the silver price.
VanEck Gold Miners ETF (GDX - Holds shares in around 40 of the world’s largest gold and silver mining companies such as Newmont, Barrick Gold, and Agnico Eagle. This offers leveraged exposure to the gold sector, meaning these companies can outperform when metal prices rise but may also underperform when they fall.
Amplify Junior Silver Miners ETF (SILJ) - Provides exposure to smaller and mid-sized silver mining companies with higher growth potential but also greater volatility. SILJ can be suitable for investors who want targeted exposure to the silver sector and are comfortable with the increased risk and cyclical nature of junior miners.
A diversified investor might include a combination of bullion ETFs (GLD and SLV) and mining exposure (GDX and SILJ) within their KiwiWRAP allocation to balance stability with potential growth.
Fees and Tax
All KiwiWRAP KiwiSaver portfolios include a 0.29% scheme administration fee, plus investment and adviser fees depending on the chosen portfolio.
Unlike many retail KiwiSaver funds, the KiwiWRAP KiwiSaver Scheme is not a Portfolio Investment Entity (PIE). Instead, it is taxed as a widely held superannuation fund at a flat rate of 28% on taxable income.
Suitability
Gold and silver may be appropriate for investors who:
Want a hedge against inflation or market uncertainty
Are comfortable with medium-to-high volatility
Are investing for the long term and can tolerate short-term price swings
Value the ability to customise their KiwiSaver strategy beyond standard options
Precious metals should not be viewed as a replacement for diversification, but rather as complementary holdings within a broader, evidence-based KiwiSaver portfolio.
Getting Started
To invest your KiwiSaver in gold and silver, you must be a member of the KiwiWRAP KiwiSaver Scheme. Once your account is open, you can work with a licensed financial adviser to structure your preferred allocation to gold, silver, global equities, and other assets.
At Compound Wealth, we typically work with investors who have $300,000 or more to invest in KiwiSaver. This ensures we can design and maintain a highly personalised strategy that makes full use of the KiwiWRAP platform.
Compound Wealth can help you establish your KiwiWRAP account and select appropriate investments to meet your goals. To get started please contact us via the link below:
Important Information
This article is for general information only and does not constitute personalised financial advice. All investments involve risk, including possible loss of capital. Past performance is not a reliable indicator of future returns. Please seek personalised advice before making any investment decision.