In blustery conditions at St Clair, he went round in 106, which on his 34 handicap gave him a net 72 for the par 71 course.
Masters Games Slideshow: Day 5
Mr Elder, who officials say is the oldest participant in the New Zealand Masters Games, impressed with his stroke-play and his confidence using his golf cart around the tricky hills.
His partner, Verne Daniel (81), said: "I'm just a spring chicken compared with Ivan."
And the reason for Mr Elder's longevity and fitness: "It was my mother," he said. "She lived to almost 99 and I suspect I've got a few of her genes."
Mr Elder had his first round of golf at Knaresborough, Yorkshire, England, in 1942 during World War 2. He was serving with the Royal New Zealand Air Force and training with the Royal Air Force.
Mr Elder went round in 134.
He played more regularly from the mid-1960s after joining the Gore Golf Club.
"I like the challenge of golf," he said. "I like being in the open air and the company."
Three of his four holes-in-one were at the Kelvin Heights course in Queenstown. His lowest handicap was 11.
One of his proudest moments was shooting his age (93) at Gore last October.
Mr Elder is also involved with non-sporting groups in Gore.
"I'm president of the Travel Club and involved with the Senior Citizens Club," he said.
He also sings in the Senior Citizens Choir and St Andrew's Church Choir.
He had simple advice for those wanting to emulate his longevity: "Keep on breathing," he quipped.
