10-KPeriod: FY2023

SPDR GOLD TRUST Annual Report, Year Ended Sep 30, 2023

Filed November 22, 2023For Securities:GLD

Summary

SPDR Gold Trust (GLD) filed its annual report on Form 10-K for the period ending September 29, 2023. The Trust's primary objective is to reflect the performance of the price of gold bullion, less expenses. The report indicates that the Trust holds a significant amount of gold, with its value primarily determined by the LBMA Gold Price PM. Key operational aspects include the creation and redemption of shares in Baskets by Authorized Participants and the management of gold custody by HSBC and JPMorgan. The Trust's financial performance for the fiscal year ending September 30, 2023, showed a net income of $5,548,188,000, a significant turnaround from the net loss of $(2,944,530,000) in the prior year. This was primarily driven by a substantial unrealized gain on gold holdings, reflecting the increase in gold prices during the period. The Trust's expenses, mainly the sponsor fee, are paid by selling gold, which can impact the amount of gold held per share over time. Investors are cautioned about the inherent risks associated with gold price volatility and the operational aspects of the Trust.

Financial Highlights

10 data points
Beta

Net Income

$5.55B

EPS (Diluted)

$17.50

Total Assets

$52.54B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements
Beta
Operating Expenses$221.61M
Net Income$5.55B
EPS (Basic)$17.50
Shares Outstanding (Basic)316.95M

Key Highlights

  • 1The SPDR Gold Trust (GLD) aims to track the price of gold bullion, less expenses, holding physical gold as its primary asset.
  • 2As of September 30, 2023, the Trust held approximately 28.1 million ounces of gold with a market value of $52.5 billion.
  • 3The Trust reported a net income of $5.55 billion for the fiscal year ended September 30, 2023, a significant improvement from a net loss of $2.94 billion in the prior year, largely due to an increase in the market value of gold holdings.
  • 4The Sponsor fee is 0.40% annually, and is paid by selling the Trust's gold holdings, which gradually reduces the amount of gold represented by each share over time.
  • 5The Trust's net asset value (NAV) is determined daily based on the LBMA Gold Price PM.
  • 6Gold is held by custodians HSBC and JPMorgan, with regular audits to verify holdings.
  • 7Authorized Participants are the exclusive entities that can create or redeem Shares in Baskets, facilitating liquidity.

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