The Australian Diamonds held off a gutsy comeback from the Silver Ferns to pip their rivals 50-49 at the M&S Bank Arena and secure top spot in Group F.
In the final seconds, shooter Maria Folau had the opportunity to claw back a draw for New Zealand but her penalty pass/shot fell short and the Diamonds were able to breathe a sigh of relief.
Both sides had already secured semi-final places before the Trans-Tasman clash and must now wait to find out who their last-four opponents will be.
The line-up for Saturday's semi-finals hangs on the final standings in Group G with England and South Africa set to tussle for pool supremacy on Thursday at 8pm, live on Sky Sports Netball.
The winner of that match will face-off against the Silver Ferns and the loser will meet the Diamonds with both semi-finals being played on Saturday.
Expectations were high when Australia and New Zealand took to court. Since 1991, all but one of the Netball World Cup finals have been contested between the two sides, and the last two were decided by single-goal margins.
Both of the netballing heavyweights went into the clash with perfect records, winning all five of their previous matches, and took things to the next level at the M&S Bank Arena.
After a goal-for-goal start, the Diamonds' player of the match Courtney Bruce provided the pressure for her first key intervention of the day.
Bruce's work on Folau produced a basic feeding error and her side pressed from there. The Diamonds' all-court defence, and speed of ball once the turnovers had been gained, created their 13-10 cushion at quarter-time.
As the second played out, Lisa Alexander's side tightened their hold on the first half. Kelsey Browne was instrumental in attack with Steph Wood and Caitlin Bassett putting up shots at will while Jo Watson and Bruce continued their strong work out the back.
With two minutes to go before the break, and at 26-20, the Silver Ferns' head coach Noeline Taurua had clearly had enough of her attacking end being pressured and made changes.
Ameliaranne Ekenasio left the court with Bailey Mes arriving and Folau moving to GA. It had the desired impact and although they finished the half 28-22 down, the signs were pointing to the comeback that would to arrive in the second 30 minutes.
After the interval Taurua's side won both of the second-half quarters 14-12 and 13-10 and the head coach's timely personnel changes paid dividends.
She mixed up their output up at crucial moments to spin momentum. Ekenasio returned to court for an influential finish while the defensive load was shared between the dynamic Casey Kopau, Katrina Rore and Jane Watson.
Ultimately though, the Diamonds held their composure and Lisa Alexander stayed firm with her seven - only introducing Paige Hadley at WD for the third quarter before turning back to Jamie-Lee Price.
In Alexander's words the defending champions "toughed it out" and after being pulled back to 49-49 just over a minute to play, Bassett's 37th goal of the match would prove to be the decisive one.
Watch every match of the Vitality Netball World Cup 2019 live on Sky Sports. Coverage of the Netball World Cup continues on Sky Sports Netball right through until the final on Sunday July 21.