GOLD PRICE IN SWISS FRANC — MAY 20, 2005

On Friday, May 20, 2005, the gold spot price was C$527.80 per troy ounce in Canadian Dollars, equivalent to CHF321.96 CHF per ounce or CHF10.35 CHF per gram. Gold fell -0.25% from the previous trading session.

Currency fluctuations between CAD and CHF significantly impact the effective cost of gold for international investors. Switzerland is the world's largest gold refining centre, processing approximately 70% of the world's gold. The Swiss Franc is also considered a safe-haven currency alongside gold. Major refiners like PAMP Suisse and Valcambi are headquartered in Switzerland, making CHF gold pricing significant for the global supply chain.