They increased their lead over the next 1000m and although the British pair fought back, upping their stroke rate to 42 per minute, the Kiwis had enough left in the tank to ease across the line to win by 1.5 secs.
It means Hodge and Reed are likely to move into the coxless four boat for London 2012.
"That was a fast race, almost world record pace," said Hodge. "Whatever happens next, it will be the same for every single member of the GB team aiming for London.
"We will go away and train harder, be more determined and totally focused on the next 11 months."
Campbell had to settle for bronze for the second consecutive year with a typically dogged performance in the final race of the day.
The 28-year-old,cheap anime wholesale who has struggled for fitness this season, made his trademark fast start, leading the field at half distance.
But four-time world champion Mahe Drysdale of New Zealand and defending champion Olaf Tufte of Norway hauled themselves back into contention as Campbell began to fade.
Drysdale held his nerve to reclaim the title he last won in 2009 ahead of Tufte, with Campbell 4.81 seconds further back.
"I would have liked to get the gold in this race but it was so painful in the second half," said Campbell.
"I had to take the risk [to go out quickly]. I wanted to stretch the field out."
With more finals to come tomorrow, Britain has already qualified 13 of a potential 14 boats rowers for London 2012.Cheap moncler vests
