talk more about this with james butterfield, head of research and investment strategy at etf securities james, you have a big gold fund. how busy in terms of inflow? >> last two weeks seen roughly $100 million in inflow which is small compared to this time last year when we saw that on the back of loose manager policy geopolitical crises and loose monetary policy. we have tightening of monetary policy, prompted outplays until the recent geopolitical crisis our analysis suggests when you start to see crisis like this, if they actually occur, gold tends to really outperform in the following year. >> do you believe that these in flows you saw last week, even if you say they weren't huge in comparison to last year, do you think they're sustainable? do you think they'll see follow through or do you think as soon as the news flow around north korea stops, in flows will abate. >> there will be tightening and europe too our fair value year end is 1250, below where it is today. you can't price geopolitical crises into a spread sheet we're not going to attempt to do so let's say this all falls aw