SPDR GOLD TRUST Annual Report, Year Ended Sep 30, 2008

SPDR Gold Trust (GLD) filed its annual report on Form 10-K for the period ending September 29, 2008. The Trust's primary objective is to provide investors with a convenient and cost-effective way to gain exposure to the price of gold bullion. The Trust holds physical gold, and its shares are designed to track the performance of gold prices, less expenses. As of September 30, 2008, the Trust held approximately 23.3 million ounces of gold, valued at over $20.5 billion. The filing details the Trust's operational structure, including its sponsor (World Gold Trust Services, LLC), trustee (BNY Mellon Asset Servicing), custodian (HSBC Bank USA, N.A.), and marketing agent (State Street Global Markets, LLC). During the fiscal year, the Trust experienced significant growth in its gold holdings and market value, reflecting the overall increase in gold prices during a period of global economic uncertainty and financial crisis. The report highlights the operational expenses, which include fees for custody, trustee, sponsor, and marketing services, all of which are paid from the Trust's assets through the sale of gold. The filing also outlines various risks associated with investing in gold and the Trust, including price volatility, potential discounts or premiums of the shares relative to Net Asset Value, and the impact of Trust expenses on returns.