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Yes, indeed: the most supportive of environments, and one that will only continue on its pronounced secular trend.

I'm delighted to hold PRE and delighted to hold Krugerrands in WBC's Queen Street bank vault. The latter have been held by my family for decades when my father's work took him to Botswana. A store of value, a medium of exchange, a numismatic value, and immense leverage to the upside as gross macroeconomic imbalances rupture and the world is reminded of market and geopolitical risk.

All compelling reasons to be a high conviction holder of gold and PRE on another good day for the latter.

Best regards, PD