The dynamics of the gold market are changing. FX players are anticipating dollar devaluation as the BOJ raises rates, ending the massive yen carry trade, and gold is re-entering the global financial system as final settlement for BRICS nations using their own currencies for trade transactions. Gold is now being driven by new, non-western buyers…central banks, Chinese investors paying substantial premiums and a growing oil for gold trade. This is the market Seabridge’s gold per share strategy was designed for.