Australia and Argentina play in the gold medal match later this morning.
"For this group of young players, people will probably think we have exceeded expectations, but the disappointing thing is we had our chances and could have got through to the finals, but it didn't happen. I think as a team, we are tired of getting so close but not winning those big games," said New Zealand coach Mark Hager.
"In today's game, we started off okay, but they dominated for most of the game. Again, we let them turnover the ball at crucial times and from that they scored goals. I think they deserved to beat us, they had more circle penetrations, we need to be able to hold the ball better going forward," said Hager.
Hager noted that Brooke Neal, Stacey Michelsen, Anita Punt and Sam Charlton were all consistent performers throughout the tournament.