What is the primary investment objective of the SPDR Gold Trust (GLD)?

The primary investment objective of the SPDR Gold Trust (GLD) is for its shares to reflect the performance of the price of gold bullion, less the Trust's expenses.

How are the Trust's expenses paid?

The Trust pays its operating expenses by selling the gold it holds. These sales are conducted by the Trustee as needed and are a taxable event for shareholders.

What are the key services provided by the Trust's main parties?

World Gold Trust Services, LLC (WGTS) is the Sponsor, responsible for establishing and marketing the Trust. The Bank of New York (BNY) serves as the Trustee, administering the Trust and calculating its Net Asset Value. HSBC Bank USA, N.A. is the Custodian, responsible for the safekeeping of the Trust's gold. State Street Global Markets, LLC (SSGM) is the Marketing Agent.

How does an investor gain exposure to gold through GLD?

Investors can gain exposure to gold by purchasing shares of the SPDR Gold Trust (GLD) on the New York Stock Exchange (NYSE) through a standard brokerage account. This eliminates the logistical challenges of directly buying, storing, and insuring physical gold.

GLD 10-K FY2007 Annual Report — Revenue, Net Income, EPS

Summary

SPDR Gold Trust (GLD) operates as an investment trust holding physical gold bullion. Its primary objective is to allow investors to track the performance of gold prices through exchange-traded shares, offering a convenient and cost-efficient alternative to direct gold ownership. The Trust aims to reflect the price of gold bullion, less its operating expenses. As of September 30, 2007, the Trust held approximately 18.58 million ounces of gold, with a market value exceeding $13.8 billion. The Trust generated a net gain of over $313 million for the fiscal year ended September 30, 2007. The shares are listed on the NYSE under the ticker GLD, providing liquidity and accessibility for investors seeking exposure to the gold market.

Key Highlights

1The SPDR Gold Trust (GLD) aims to reflect the performance of gold bullion prices, less expenses.
2As of September 30, 2007, the Trust held 18.58 million ounces of gold valued at over $13.8 billion.
3For the fiscal year ended September 30, 2007, the Trust reported a net gain of $313.4 million.
4The shares trade on the NYSE under the ticker GLD, offering investors easy access to the gold market.
5The Trust is structured as a grantor trust for U.S. federal income tax purposes, meaning income and expenses flow through to shareholders.
6The Trust does not hold derivative instruments and its assets consist solely of allocated gold bullion and cash for expenses.
7Operating expenses, including fees for the Sponsor, Trustee, Custodian, and Marketing Agent, are paid through the sale of gold held by the Trust.

Gross Profit	$6.91M
Operating Expenses	$39.67M
Net Income	$313.44M
EPS (Basic)	$2.05
Shares Outstanding (Basic)	152.87M

SPDR GOLD TRUST Annual Report, Year Ended Sep 30, 2007

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions