In this you rejoice, though now for a little while, if necessary, you have been grieved by (A)various trials, so that (B)the tested genuineness of your faith—more precious than gold that perishes (C)though it is tested by (D)fire—may be found to result in (E)praise and glory and honor at the revelation of Jesus Christ.

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You now rejoice in this hope, even if it’s necessary for you to be distressed for a short time by various trials. This is necessary so that your faith may be found genuine. (Your faith is more valuable than gold, which will be destroyed even though it is itself tested by fire.) Your genuine faith will result in praise, glory, and honor for you when Jesus Christ is revealed.

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