GOLD PRICE IN EURO — JANUARY 27, 2005

On Thursday, January 27, 2005, the gold spot price was C$527.50 per troy ounce in Canadian Dollars, equivalent to €337.60 EUR per ounce or €10.85 EUR per gram. Gold rose +0.22% from the previous trading session.

Currency fluctuations between CAD and EUR significantly impact the effective cost of gold for international investors. The Euro is the currency of the European Union's Eurozone, representing one of Canada's largest trading partners. European investors and Canadian travelers to Europe benefit from tracking the gold price in EUR. The EUR/CAD cross-rate reflects both European monetary policy (ECB) and Canadian economic conditions.