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 does an investor gain exposure to gold through GLD?

Investors gain exposure to gold by purchasing Shares of the SPDR Gold Trust, which represents units of fractional undivided beneficial interest in and ownership of the Trust's gold holdings. This offers a convenient way to invest in gold without the direct costs and logistical challenges of holding physical bullion.

What are the main expenses incurred by the Trust?

The Trust's main expenses include fees paid to the Sponsor, Trustee, Custodian, and Marketing Agent, along with other administration fees such as legal and audit fees. These expenses are accrued daily and reflected in the Net Asset Value (NAV) of the Shares.

How is the Net Asset Value (NAV) of GLD determined?

The Trustee determines the NAV of the Trust on each business day that NYSE Arca is open. The valuation is based on the London PM Fix price for gold bullion, adjusted for accrued but unpaid liabilities and estimated expenses.

GLD 10-K FY2009 Annual Report — Revenue, Net Income, EPS

Summary

This 10-K filing for SPDR Gold Trust (GLD) as of September 30, 2009, details the trust's structure, operations, and financial performance. The primary objective of GLD is to reflect the performance of the price of gold bullion, less trust expenses. The trust holds physical gold bullion, offering investors a convenient and accessible way to invest in the gold market without the complexities of direct gold ownership, storage, and insurance. The filing outlines the roles of key service providers, including the 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). Financially, GLD reported a total gain on gold of $508.5 million for the year ended September 30, 2009, compared to $2.04 billion in the prior year, reflecting the significant price fluctuations in gold. Total expenses for the year were $113.6 million. The trust's financial position shows a substantial increase in the market value of its gold holdings to $35.03 billion from $20.58 billion in the prior year, driven by rising gold prices.

Key Highlights

1The SPDR Gold Trust (GLD) aims to provide investors with exposure to the price performance of gold bullion, net of trust expenses.

2GLD holds physical gold bullion, stored and insured by HSBC Bank USA, N.A. as custodian.

3For the year ended September 30, 2009, the Trust reported a total gain on gold of $508.5 million.

4Total expenses for the fiscal year 2009 were $113.6 million, including fees for sponsorship, trustee services, custody, and marketing.

5The market value of the Trust's gold holdings significantly increased to $35.03 billion by September 30, 2009, from $20.58 billion in the previous year, reflecting strong gold price appreciation.

6Shares of GLD are exchange-traded and designed to be easily accessible through a traditional brokerage account.

Gross Profit	$14.74M
Operating Expenses	$113.61M
Net Income	$394.86M
EPS (Basic)	$1.24
Shares Outstanding (Basic)	319.35M

SPDR GOLD TRUST Annual Report, Year Ended Sep 30, 2009

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions