I'm bullish with respect to the short-term outlook, as the economic data coming out of China and Europe is now very positive, and of course China is of huge specific relevance to the Australian market (especially resources). The other near-term positive is that the US cannot wean itself off stimulus and has delayed the inevitable, which provides further near-term stimulus. With the world's population now surging past 7 billion, the longer-term outlook for commodities and growth is extremely positive, particularly given supply-side constraints, political risk factors, depleting ore bodies and declining exploration success rates. The world's burgeoning population needs to be fed and housed. My only concern is the medium-term, where the US will have to rein in stimulus and I think there will be huge inflationary impacts on its economy that it will have to deal with. Gold remains a great investment opportunity.