GOLD PRICE IN BRITISH POUND — JULY 29, 2004

On Thursday, July 29, 2004, the gold spot price was C$512.85 per troy ounce in Canadian Dollars, equivalent to £282.07 GBP per ounce or £9.07 GBP per gram. Gold fell -0.81% from the previous trading session.

Currency fluctuations between CAD and GBP significantly impact the effective cost of gold for international investors. The British Pound Sterling is one of the oldest currencies still in circulation. The UK is home to the London Bullion Market Association (LBMA), which sets the global standard for gold trading. British investors and Canadian expats in the UK benefit from GBP-denominated gold pricing.