Gold continues to be in a sweet spot. The global economy is once again slowing, which is not a climate in which interest rates will be raised. And as to central banks, we believe they are far more likely to add to gold reserves than dispose of them. China, Russia, Brazil and a host of other countries who are accumulating foreign exchange reserves, have not only stated that they will add more gold, but have actually done so during the past months. Finally, investors the world over are losing confidence in the U.S. dollar, the Euro and the Yen—and these three currencies comprise a huge part of the global currency float. We project continued strength for the yellow metal, as we look ahead at an economically and politically difficult period.