GLD 10-Q Quarterly Reports

SPDR Gold Trust (GLD) reported its financial condition as of March 31, 2026, and its results of operations for the three and six months ended on that date. The Trust holds a substantial amount of gold, with its primary asset being "Investments in Gold, at fair value," valued at approximately $155 billion as of March 31, 2026. This represents nearly the entirety of its total assets, which stood at $155.17 billion. The Trust's Net Assets were $155.11 billion, with a Net Asset Value (NAV) per Share of $423.34. For the six months ended March 31, 2026, the Trust experienced a net increase in Net Assets of $25.72 billion resulting from operations. This was driven by significant net realized and unrealized gains on its gold holdings, amounting to $26.02 billion, which more than offset the net investment loss and sponsor fees. The Trust's operations are characterized by the creation and redemption of Shares in exchange for gold, with substantial activity observed in both for the reporting period. The Trust continues to operate as a single segment, with its objective being to reflect the performance of the price of gold bullion.

SPDR Gold Trust (GLD) reported a significant increase in Net Assets for the quarter ended December 31, 2025, driven by a substantial rise in the value of its gold holdings. Net Assets grew from $124.5 billion to $148.2 billion, reflecting the appreciation of gold prices during the period. This surge in asset value is primarily attributable to a significant unrealized gain on gold, indicating a favorable market environment for the precious metal. Investors should note that the Trust's performance is directly tied to the price of gold, and the reported period saw a strong positive correlation between gold price movements and the Trust's Net Asset Value per Share, which increased from $352.09 to $396.12.

SPDR Gold Trust (GLD) reported substantial growth in its Net Assets for the nine months ending June 30, 2025, increasing from $73.7 billion to $100.6 billion. This growth was primarily driven by a significant increase in the fair value of its gold holdings, which rose from $73.7 billion to $100.9 billion, reflecting a strong upward trend in gold prices during the period. The Trust experienced substantial inflows of gold through share creations, totaling $35.4 billion, outpacing redemptions of $27.1 billion over the nine-month period. This indicates strong investor demand for gold exposure via the GLD ETF. Net income for the nine months ending June 30, 2025, reached $18.7 billion, a notable increase from $12.2 billion in the prior year's comparable period. This rise in profitability is largely attributable to the substantial unrealized gains on gold holdings, which amounted to $10.1 billion for the period. Investors in GLD benefit from this performance, as the ETF's Net Asset Value per Share increased significantly from $243.01 at the beginning of the period to $302.87 at the end. The Trust continues to operate with a consistent expense ratio of 0.40%, as the Sponsor absorbs ordinary expenses in exchange for the management fee.

SPDR Gold Trust (GLD) reported a significant increase in Net Assets for the quarter ended March 31, 2025, reaching $93.45 billion, up from $73.70 billion at the end of the previous fiscal year. This growth was primarily driven by a substantial increase in the market value of its gold holdings, which rose to $93.34 billion from $73.73 billion, reflecting an appreciation in gold prices. The Trust experienced robust activity in share creation and redemption, with net creations of 22,000,000 shares, translating to a net increase in the value of shares created and redeemed of $6.08 billion. This indicates strong investor demand for gold exposure through the Trust. Despite a net investment loss of $80.4 million for the quarter, the Trust's overall performance was boosted by significant unrealized gains on its gold holdings, leading to a reported net income of $14.27 billion for the three months ended March 31, 2025.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending December 31, 2024, indicates a slight decrease in Net Assets from $73,704,147,000 to $73,215,075,000, primarily driven by a significant unrealized loss on its gold holdings. The Net Asset Value (NAV) per Share also saw a minor dip from $243.01 to $241.00. Operationally, the Trust experienced a net investment loss of $75,692,000 during the quarter, a direct result of sponsor fees. This loss was more than offset by substantial realized gains from gold distributed for share redemptions ($2,152,869,000), but a large unrealized loss on the gold portfolio $(-2,703,816,000)$ led to an overall net loss for the period. Investors should note that while the Trust aims to track the price of gold, its performance is directly tied to gold's market fluctuations and is subject to expenses. The filing also shows continued activity in share creation and redemption, with slightly more shares created than redeemed during the quarter.

SPDR Gold Trust (GLD) has reported its financial results for the quarterly period ending June 29, 2024. The Trust's Net Assets significantly increased to $62.11 billion from $52.52 billion at the end of the prior fiscal year. This growth is primarily driven by a substantial increase in the fair value of its gold holdings, which rose to $62.13 billion from $52.54 billion, reflecting a positive trend in gold prices. The Net Asset Value (NAV) per share also saw a notable increase, reaching $215.58 compared to $173.51 in the prior year. The Trust experienced net creations of shares during the nine-month period, with redemptions exceeding creations in terms of value, resulting in a net decrease in the value of shares created and redeemed. Despite a net investment loss primarily due to sponsor fees, the significant gains from the change in unrealized value of gold holdings led to a substantial net income for the period. Investors should note that GLD's performance is directly tied to the price of gold, and the Trust does not engage in hedging activities.

SPDR Gold Trust (GLD) reported its first quarter 2024 financial results, reflecting a significant increase in the value of its gold holdings driven by favorable market conditions. The Trust saw its Net Assets grow from approximately $52.5 billion at the end of the prior fiscal year to nearly $59.1 billion as of March 31, 2024. This appreciation is primarily due to a substantial unrealized gain on its gold investments, underscoring the Trust's role as a direct investment vehicle for gold bullion. Despite the increase in asset value, the Trust experienced a net decrease in the number of outstanding shares during the period, with redemptions exceeding creations. Expenses, primarily sponsor fees, remained a consistent factor, though the Trust effectively manages these by selling small amounts of gold. Investors should note that the Trust's performance is directly tied to the price of gold, and the reported figures reflect both realized and unrealized gains/losses on its gold holdings.

SPDR Gold Trust (GLD) reported strong performance for the quarter ending December 31, 2023, driven by a significant increase in the fair value of its gold holdings. The Trust's net assets grew to $58.27 billion, up from $52.52 billion at the end of the previous quarter. This growth was primarily fueled by a substantial unrealized gain on its gold investments, reflecting the rising price of gold. The Net Asset Value (NAV) per Share increased to $191.12 from $173.51, indicating positive returns for shareholders. Operationally, the Trust saw a net increase in shares outstanding due to higher creation activity compared to redemptions, signifying investor demand. Total expenses remained stable and are consistent with the Trust's expense ratio, which is managed to track the performance of gold bullion. The Trust continues to hold 100% allocated gold bullion, with no exposure to derivative instruments, aligning with its objective of providing direct market exposure to gold prices.

SPDR Gold Trust (GLD) reported its financial results for the period ending June 30, 2023. The Trust's primary asset is gold bullion, and its investment objective is to mirror the performance of the gold price, net of expenses. As of June 30, 2023, the Trust held approximately 29,797.5 ounces of gold valued at $56.98 billion, an increase from $50.69 billion at September 30, 2022. This increase is largely attributable to a rise in the market price of gold. The Trust experienced a net investment loss of $59.1 million for the three months ended June 30, 2023, offset by significant net realized and unrealized gains on its gold holdings, resulting in a net loss of $2.08 billion for the quarter. However, for the nine months ended June 30, 2023, the Trust reported a net income of $6.77 billion, driven by substantial unrealized gains on its gold investments. The Trust's Net Asset Value (NAV) per share stood at $177.56 as of June 30, 2023, up from $155.69 at September 30, 2022. The total return for the nine months ended June 30, 2023, was 14.05% at NAV and 15.26% at market value. Investors should note that the Trust's performance is directly tied to the price fluctuations of gold. While the Trust's expenses are nominal (0.40% annually), they do have a cumulative effect on returns over time, as indicated by the slight divergence between share price/NAV and the gold price.

SPDR Gold Trust (GLD) reported strong performance for the six months ended March 31, 2023, driven by a significant increase in the fair value of its gold holdings. Net assets grew substantially to $59.05 billion from $50.49 billion at the end of the prior fiscal year. This growth was primarily fueled by a $8.46 billion unrealized gain on its gold investments, reflecting a positive trend in gold prices during the period. Despite managing expenses, the Trust's investment objective remains to mirror the price of gold, less operational costs, which were approximately 0.40% of average net assets. During the six-month period, the Trust saw net redemptions in terms of share volume, with 3.4 million fewer shares outstanding. However, the value of these redemptions was less than the value of creations, indicating an overall increase in the net asset value per share to $184.01 from $155.69. Investors should note that the Trust's performance is directly tied to the fluctuations in the global gold market, and while it offers a straightforward way to gain exposure to gold, it does not involve active management or hedging strategies.

SPDR Gold Trust (GLD) reported its financial position for the quarter ending December 31, 2022. The Trust's primary asset is gold bullion, which is valued at $53.52 billion, an increase from $50.69 billion at the end of the previous quarter. This increase in gold value, driven by a net change in unrealized gains of over $3.9 billion, contributed to a substantial rise in Net Assets to $53.45 billion from $50.49 billion. During the quarter, GLD experienced net redemptions, with more shares being redeemed than created, resulting in a decrease in the number of outstanding shares to 317 million from 324.3 million. Despite these redemptions, the Net Asset Value (NAV) per Share increased to $168.62 from $155.69, reflecting the appreciation in the underlying gold price. Investors should note that while the Trust's NAV per Share saw a significant positive return of 8.30% for the quarter, the primary driver of performance is the movement in the spot price of gold, with GLD's expenses accounting for a minor drag.

The SPDR Gold Trust (GLD) reported its quarterly results for the period ending June 30, 2022. Total assets increased to $61.6 billion from $55.5 billion in the prior year, primarily driven by an increase in the fair value of its gold holdings. Net assets also saw a rise, reaching $61.3 billion compared to $55.5 billion in the prior year. The Trust experienced a net investment loss of $64.8 million for the quarter, a slight increase from $60.1 million in the same period last year. However, this was offset by a significant net realized and unrealized gain on its gold investments. For the nine months ended June 30, 2022, the Trust reported net income of $1.81 billion, a substantial turnaround from a net loss of $5.08 billion in the corresponding period of 2021. This swing is largely attributable to a significant increase in the net change in unrealized gains on its gold holdings.

The SPDR Gold Trust (GLD) reported strong growth in its net assets for the quarter ending March 31, 2022. Net assets increased to $68.13 billion from $55.46 billion at the end of the previous fiscal year. This growth was primarily driven by significant inflows of gold through share creations, which significantly outweighed redemptions. The Trust's investment in gold is valued at fair value and represents its primary asset, showing an appreciation in value during the period. Despite the increase in assets, investors should note that the Trust experienced a net investment loss due to sponsor fees. However, this was more than offset by substantial gains from unrealized appreciation on its gold holdings, leading to a net income of $3.92 billion for the quarter. The Trust's operational structure ensures that it holds no cash balances, as gold is sold to cover expenses, aligning its performance closely with the price of gold bullion, less fees.

SPDR Gold Trust (GLD) reported a net income of $2,346,648 for the three months ended December 31, 2021, a significant turnaround from a net loss of $51,127 in the same period of the previous year. This was primarily driven by a substantial increase in the net change in unrealized appreciation on its gold holdings, which rose to $2,093,694 from a depreciation of $1,659,393 in the prior year quarter. The Trust's net assets grew to $57,074,810 from $55,455,274 as of September 30, 2021, reflecting the appreciation in the fair value of its gold reserves. Despite the overall net income, the Trust experienced a net decrease in the number of shares outstanding and a net decrease in the value of shares created and redeemed during the quarter. While creations saw significant value, redemptions were substantially higher, resulting in a net outflow of value from the Trust. The Trust's assets consist entirely of gold bullion, valued at $57,093,938, with the underlying gold price performance being the primary driver of investor returns.

The SPDR Gold Trust (GLD) reported a significant decrease in its Net Assets and the value of its gold holdings for the period ending June 30, 2021, compared to September 30, 2020. Total Assets dropped from $76.98 billion to $59.28 billion, primarily due to a reduction in the fair value and quantity of gold held. Concurrently, the number of outstanding shares decreased from 434.4 million to 359.1 million, and the Net Asset Value (NAV) per share declined from $177.15 to $165.03. This reflects a period of gold price depreciation, as indicated by the Net change in unrealized depreciation on investment in gold for the nine months ended June 30, 2021, which was a loss of $8.8 billion. Despite the decline in gold's value, the Trust's operational expenses, primarily sponsor fees, remained relatively stable quarter-over-quarter. The Trust continues to operate as an investment vehicle for gold, with its performance directly tied to the price of gold bullion. Investors should note the significant redemptions of shares during the nine-month period, which resulted in a substantial outflow of gold, and understand that the Trust's NAV is directly influenced by gold market fluctuations and accumulated expenses.

SPDR Gold Trust (GLD) reported a significant decrease in net assets and share count for the quarter ended March 31, 2021, compared to the previous fiscal year-end. Total assets and net assets fell from $76.98 billion and $76.95 billion respectively at September 30, 2020, to $56.41 billion and $56.39 billion at March 31, 2021. This decline is primarily attributed to substantial redemptions of shares, with over 116 million shares redeemed during the six-month period ending March 31, 2021, compared to creations of just over 38 million shares. The Trust experienced a net investment loss and a significant net change in unrealized depreciation on its gold holdings. For the six months ended March 31, 2021, the Trust reported a net loss of $7.34 billion, largely driven by an unrealized depreciation of $10.61 billion in the value of its gold investments, partially offset by realized gains from gold distributed for redemptions and gold sold to pay expenses. Investors should note that the Trust's performance is directly tied to the price of gold bullion, and the substantial unrealized depreciation reflects a decline in gold prices during the period.

SPDR Gold Trust (GLD) reported a decrease in Net Assets from $76,952,551,000 as of September 30, 2020, to $71,157,721,000 as of December 31, 2020. This decline is primarily attributed to significant redemptions of shares, with $8,558,030,000 worth of gold distributed for redemptions compared to $2,814,327,000 in creations during the three months ended December 31, 2020. Despite a substantial increase in the net change in unrealized depreciation on its gold investments, the Trust experienced a net loss of $51,127,000 for the quarter, a stark contrast to the net income of $1,017,503,000 in the prior year's comparable quarter. The Trust's holdings consist almost entirely of gold bullion, valued at $71,128,374,000 as of December 31, 2020. The significant net realized and change in unrealized gain/(loss) on investment in gold for the quarter was a negative $1,635,989,000, driven by a $1,659,393,000 decrease in unrealized appreciation, partially offset by realized gains from sales to pay expenses and redemptions. Investors should note the significant outflows through redemptions and the resulting decrease in the Trust's overall asset value.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending June 30, 2020, reveals a significant increase in the Trust's assets and net asset value (NAV) compared to the previous year. Total assets grew from $44.17 billion to $67.02 billion, driven by a substantial appreciation in the value of its gold holdings. This surge is reflected in the NAV per Share, which increased from $140.00 to $166.16. The Trust experienced a significant net income of $5.29 billion for the quarter, a substantial rise from $2.75 billion in the prior year, largely due to a significant unrealized appreciation in its gold investments amidst market volatility. For the nine-month period ending June 30, 2020, the Trust saw a substantial increase in creations of Shares (89.2 million net shares) compared to the same period in the prior year (18.4 million net shares), indicating strong investor demand for gold as an asset. Despite increased sponsor fees, the Trust's net income for the nine months reached $8.65 billion, up from $5.37 billion in the prior year. The filing also addresses the impact of the COVID-19 pandemic, noting that while it has caused market volatility, it has not yet materially affected the Trust's operations.

The SPDR Gold Trust (GLD) reported a significant increase in its Net Assets from $43.96 billion at September 30, 2019, to $50.01 billion at March 31, 2020. This growth is primarily driven by a substantial appreciation in the value of its gold holdings, reflecting a strong upward trend in gold prices during the period. The Trust experienced net creations of shares, indicating increased investor demand for gold exposure. Despite the positive net asset growth and unrealized gains, investors should be aware of the trust's expense ratio and the inherent volatility of gold prices, which can be influenced by a wide range of global economic and geopolitical factors. The report also highlights the Trust's operational structure, emphasizing that it holds physical gold and its net asset value directly tracks the price of gold, less expenses. The impact of the COVID-19 pandemic is noted as a potential risk factor, introducing market volatility and operational uncertainties, although its material impact on the Trust's operations was not yet evident as of the reporting date. Investors should consider these factors when evaluating the current and future performance of GLD.

SPDR Gold Trust (GLD) reported its financial condition for the quarter ending December 31, 2019. The Trust's Net Assets stood at approximately $43.72 billion, a slight decrease from $43.96 billion at the end of the previous quarter. This decrease was primarily driven by net redemptions of Shares, which outweighed creations. The Trust held approximately 28.7 million ounces of gold, valued at fair value of over $43.73 billion, representing 100.03% of Net Assets. For the three months ended December 31, 2019, the Trust reported a net income of $1.017 billion, a significant decrease from $2.282 billion in the same period of the prior year. This reduction was largely due to a substantial decrease in the net change in unrealized appreciation on investment in gold, which was $775.9 million in the current quarter compared to $2.35 billion in the prior year. Sponsor fees remained a key expense, totaling $43.3 million for the quarter.

SPDR Gold Trust (GLD) reported a significant increase in its Net Assets for the period ending June 30, 2019, reaching $35.96 billion, up from $28.32 billion at the end of the prior fiscal year. This growth is primarily driven by a substantial unrealized appreciation in the value of its gold holdings, which rose to $36.14 billion from $28.33 billion. The Trust experienced a net income of $2.75 billion for the three months ended June 30, 2019, a significant turnaround from a net loss of $2.02 billion in the same period of the prior year, largely due to a strong positive change in the unrealized appreciation of gold. During the nine months ended June 30, 2019, the Trust saw increased activity in share creations and redemptions, with net creations totaling 18,400,000 shares valued at approximately $2.26 billion more than redemptions. This indicates growing investor interest or a net inflow of assets into the trust. Despite the overall positive financial performance driven by gold price appreciation, investors should note that the Trust's objective is to reflect the performance of gold bullion prices less expenses, and as such, the value of shares is directly tied to gold market volatility.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending March 30, 2019, indicates a significant increase in the Trust's assets and net asset value per share compared to the previous fiscal year-end. Total assets grew from approximately $28.3 billion to $32.7 billion, with the Net Asset Value (NAV) per share rising from $112.35 to $122.34. This growth is primarily driven by an increase in the fair value of the Trust's gold holdings, reflecting a positive net change in unrealized appreciation of $2.6 billion for the six months ending March 31, 2019. For the three months ended March 31, 2019, the Trust reported a net income of $344.8 million, a decrease from $706.8 million in the same period of the prior year. This was influenced by a lower net realized and change in unrealized gain/(loss) on investment in gold. Despite this quarterly dip, the six-month period shows robust net income of $2.6 billion, significantly up from $1.0 billion in the prior year's comparable period. The Trust's operations continue to be directly tied to the price of gold, with no active management or hedging strategies employed.

This 10-Q filing for SPDR Gold Trust (GLD) for the period ending December 30, 2018, reveals a significant increase in Net Assets, driven by a substantial rise in the value of its gold holdings. Total Assets grew from $28.3 billion to $32.4 billion, primarily due to an appreciation in the fair value of gold, which increased from $28.3 billion to $32.4 billion. This appreciation, coupled with a healthy net income of $2.28 billion for the quarter, led to a corresponding increase in Net Asset Value per Share from $112.35 to $121.16. The Trust experienced strong inflows of gold through share creations, with the value of creations ($3.21 billion) significantly outweighing redemptions ($1.36 billion) during the quarter. This indicates growing investor demand for gold exposure via the GLD ETF. Despite a modest net investment loss due to sponsor fees, the substantial gains in the value of gold more than compensated, resulting in robust overall performance. Investors should note that GLD's performance is directly tied to the price of gold, and the report highlights the Trust's strategy of holding physical gold without active management or hedging. The Trust maintains a simple operational structure with minimal liabilities, primarily consisting of sponsor fees, and it does not hold any cash, as expenses are settled by selling small amounts of gold. The filing confirms that GLD is not a shell company and its financial reporting is in accordance with U.S. GAAP.

SPDR Gold Trust (GLD) reported its financial condition for the period ending June 30, 2018. The Trust's primary asset is its investment in gold, which decreased in fair value from $35,669,225,000 in September 2017 to $33,034,479,000 as of June 30, 2018. This decline reflects a significant unrealized depreciation in the value of its gold holdings during the period. Consequently, the Trust's Net Assets also decreased from $35,657,505,000 to $32,916,642,000, with the Net Asset Value (NAV) per Share falling from $121.91 to $118.45. Operationally, the Trust experienced a net loss of $2,020,347,000 for the three months ended June 30, 2018, largely driven by unrealized losses on its gold investment. The Trust's expense ratio remained stable at 0.40%. The number of outstanding shares also decreased significantly from 292,500,000 to 277,900,000 during the nine months ended June 30, 2018, indicating net redemptions. Investors should note the direct correlation between the Trust's performance and the price of gold, with its operations primarily focused on holding gold bullion.

The SPDR Gold Trust (GLD) reported its financial condition as of March 31, 2018. The Trust's primary asset is its investment in gold bullion, valued at $36.01 billion, representing 100.03% of its net assets. Total assets stood at $36.01 billion, with minimal liabilities of $12.16 million payable to the Sponsor. For the three months ended March 31, 2018, the Trust reported a net income of $706.78 million, a significant increase compared to the same period in the prior year, primarily driven by a substantial unrealized appreciation in the value of its gold holdings. The net asset value (NAV) per share increased to $125.53 from $121.91 at the end of the prior fiscal year. The Trust operates without holding any cash, as any operational expenses are covered by selling gold, minimizing non-gold assets.

The SPDR Gold Trust (GLD) reported its financial condition for the quarter ended December 31, 2017. The Trust's primary asset is investment in gold, valued at $34.91 billion, reflecting a slight decrease from $35.67 billion at the end of the prior quarter. Net assets stood at $34.898 billion, with 283.6 million shares outstanding. The Trust experienced a significant rebound in its Statement of Operations, reporting a net income of $319.75 million for the quarter, a stark contrast to a net loss of $4.92 million in the same period of the previous year. This positive shift was driven by a substantial increase in the net realized and change in unrealized gain/(loss) on investment in gold, which was $354.74 million compared to a loss of $4.88 million in the prior year period, primarily due to unrealized appreciation on its gold holdings.

The SPDR Gold Trust (GLD) reported its quarterly results for the period ending June 30, 2017. The Trust's net assets saw a significant decrease, falling to $34.04 billion from $40.29 billion at the start of the fiscal year. This decline is primarily attributed to a substantial unrealized depreciation in the value of its gold holdings during the nine-month period, amounting to $2.51 billion. Concurrently, the Trust experienced net redemptions of shares, with the value of redeemed shares exceeding the value of newly created shares by $3.41 billion. Despite the decrease in net assets and a negative net income per share of ($0.47) for the quarter, the Trust's operational structure remains consistent. Expenses, primarily consisting of sponsor fees, are covered by selling small amounts of gold, leading to the Trust typically having zero cash balance. The Trust continues to track the price of gold bullion, with its investment in gold valued at $34.10 billion at quarter-end, reflecting a cost basis of $34.12 billion.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending March 31, 2017, indicates a decrease in Net Assets from $40.3 billion to $33.3 billion compared to September 30, 2016. This decline is primarily attributed to a significant net realized and change in unrealized loss on investment in gold during the six months ended March 31, 2017, amounting to approximately $2.64 billion, contrasting with a gain of $2.71 billion in the prior year's comparable period. The Trust experienced substantial share redemptions, with a net decrease of 38.4 million shares outstanding during the first six months of 2017. Despite the overall decline in net assets and share count, the Trust's investment objective remains to reflect the performance of gold bullion prices, less expenses. The market value per share saw an increase for the three months ended March 31, 2017, indicating a positive short-term movement in gold prices. Investors should note the Trust's sole holding is gold, and its performance is directly tied to gold price fluctuations.

SPDR Gold Trust (GLD) reported its financial results for the quarter ended December 31, 2016. The Trust experienced a notable decrease in its Net Assets, falling from $40.3 billion to $30.6 billion during the quarter. This decline was primarily driven by significant net realized and unrealized losses on its investment in gold, totaling $4.9 billion for the quarter, coupled with substantial share redemptions valued at $6.3 billion, which exceeded creations valued at $1.6 billion. Despite the decrease in assets, the Trust's operational structure remained consistent, with no cash balances held as gold is directly used to cover expenses. The Trust's investment objective is to reflect the performance of the price of gold bullion, less expenses. Investors should note the direct correlation between the Trust's Net Asset Value (NAV) and the price of gold, as well as the impact of the Trust's expenses which have historically caused a divergence from the gold price over time.

SPDR Gold Trust (GLD) reported significant growth in its Net Assets for the nine months ended June 30, 2016, reaching $40.33 billion, a substantial increase from $24.61 billion at the end of fiscal year 2015. This growth was primarily driven by a surge in share creations, indicating strong investor demand for gold exposure. The Trust's investment in gold also increased substantially in both cost and fair value, reflecting a notable appreciation in gold prices during the period, especially in the second quarter of 2016. Operationally, the Trust experienced a significant net income of $2.32 billion for the three months ended June 30, 2016, and $4.98 billion for the nine months ended June 30, 2016. This contrasts sharply with the net loss reported in the comparable periods of 2015, highlighting the positive impact of rising gold prices. The Trust's expense structure remains lean, with the sponsor bearing most ordinary expenses, a model designed to minimize the impact on investors.

SPDR Gold Trust (GLD) reported strong performance for the six months ended March 31, 2016, driven by a significant increase in the net asset value (NAV) per share to $118.23 from $106.68 at the beginning of the period. This growth was primarily fueled by a substantial unrealized appreciation in the value of its gold holdings, which increased by over $3 billion. The Trust saw a considerable inflow of assets, with Shares issued and outstanding growing from 230.7 million to 275.5 million, indicating strong investor demand during the period. Total assets grew substantially from $24.62 billion to $32.83 billion, with the investment in gold accounting for the vast majority of this increase. The Trust's strategy remains focused on reflecting the price of gold bullion, and its operational expenses are managed with a single sponsor fee of 0.40% of daily NAV, with the sponsor covering all ordinary expenses. Despite the positive NAV performance, investors should remain aware of the inherent volatility associated with gold prices and potential market risks.

The SPDR Gold Trust (GLD) reported its financial condition for the period ending December 31, 2015. The Trust experienced a net decrease in Shares Outstanding during the quarter, with redemptions significantly outweighing creations. This resulted in a decrease in the Trust's net assets and a decline in the Net Asset Value (NAV) per Share from $106.68 to $101.62. The total assets, primarily composed of investment in gold, decreased from $24,620,671,000 to $21,979,062,000. Total liabilities also increased, largely due to a new gold payable of $40,650,000. The Trust incurred a net loss of $1,143,013,000 for the three months ended December 31, 2015, driven by a substantial net change in unrealized depreciation on its gold holdings.

SPDR Gold Trust (GLD) reported its quarterly results for the period ending June 30, 2015. The Trust's primary asset is gold bullion, and its performance is directly tied to the price of gold. During this quarter, GLD experienced a net loss of $375.173 million, a significant shift from a net income of $67.953 million in the same period of the prior year. This change is largely attributable to a substantial unrealized loss on its investment in gold, reflecting a decline in gold prices during the quarter. The Trust's net assets decreased to $26.77 billion from $30.25 billion at the end of the prior fiscal year, primarily due to share redemptions exceeding creations and the depreciation in the value of gold. Key operational aspects include the adoption of investment company accounting standards effective October 1, 2014, which resulted in reporting gold at fair value and recognizing unrealized gains and losses in the statement of operations. The Trust had no cash balance at the end of the period, as gold is sold to cover expenses. Investors should note the recent transition to the LBMA Gold Price PM for valuation and the associated risks regarding benchmark integrity.

This report for the SPDR Gold Trust (GLD) for the quarter ending March 31, 2015, highlights a shift in accounting practices to align with investment company standards, effective October 1, 2014. The Trust's primary asset is its investment in gold, valued at approximately $28.1 billion at the end of the period. Total liabilities were minimal, amounting to $12.1 million. A key operational metric is the Net Asset Value (NAV) per Share, which stood at $113.91 on March 31, 2015. The Trust experienced a net loss of $484.7 million for the quarter, largely driven by a significant unrealized loss on its gold holdings, reflecting the volatility of gold prices. Investors should note the shift in reporting to fair value for gold and the inclusion of unrealized gains/losses in the Statement of Operations. The report also details the Trust's operational metrics, including a decrease in outstanding shares from 257.3 million to 246.9 million during the quarter. The Trust operates with no cash reserves, as gold is sold to cover expenses, aligning with its objective of reflecting the price of gold bullion. The introduction of the LBMA Gold Price PM as the primary valuation benchmark for gold is a significant development, replacing the London Gold Fix. Investors should be aware of the risks associated with this new benchmark and potential price discrepancies.

The SPDR Gold Trust (GLD) reported its quarterly results for the period ending December 30, 2014. The Trust has adopted new accounting standards for investment companies effective October 1, 2014, which involved a change in how the investment in gold is valued and reported. As of December 31, 2014, the Trust held approximately 22.9 million ounces of gold valued at $27.46 billion, with a cost basis of $28.27 billion. For the three months ended December 31, 2014, the Trust reported a net loss of $469.5 million, or ($1.76) per share. This loss was primarily driven by the net change in unrealized depreciation on the investment in gold. During the quarter, there was a net decrease in Shares Outstanding, with redemptions significantly exceeding creations in terms of value and ounces of gold. The Trust continues to operate with no cash reserves, as gold is sold to cover expenses.

SPDR Gold Trust (GLD) reported its quarterly results for the period ending June 29, 2014. The Trust's primary asset is gold bullion, and its performance is directly tied to the price of gold. During this period, the Trust experienced a decrease in its total assets and investment in gold compared to the prior year, reflecting a decline in gold prices. The financial statements indicate a net gain from operations, primarily driven by gains on gold distributed for share redemptions, although this gain was significantly lower than the same period in the prior year. Expenses remain a component of the Trust's operations, with custody, trustee, and sponsor fees contributing to the overall cost structure. The Trust did not hold any cash balances at the end of the period, as gold is sold to cover expenses, reinforcing its nature as a passive gold holding vehicle.

SPDR Gold Trust (GLD) reported its unaudited financial results for the quarter ended March 31, 2014. The Trust experienced a net gain from operations of $663.1 million for the quarter, a significant decrease compared to $1.95 billion in the same period of the prior year. This decline is primarily attributable to a substantial unrealized gain on investment in gold of $603.3 million recorded in the current period, contrasted with a gain of $1.96 billion from gold distributed for share redemptions in the prior year's quarter. The Trust's total assets, primarily held in gold, decreased to $32.34 billion from $35.81 billion at the end of the previous fiscal year, reflecting a reduction in both the ounces of gold held and its market value. For the six-month period ended March 31, 2014, the net gain from operations was $161.5 million, a sharp drop from $2.48 billion in the corresponding period of 2013. The Trust saw a decrease in both the number of outstanding shares and the total ounces of gold held, with redemptions exceeding creations during the period. Investors should note the significant decrease in net gain per share, reflecting the reduced performance compared to the previous year. The Trust's operations are designed to track the price of gold bullion, and the financial results are heavily influenced by fluctuations in the gold market.

SPDR Gold Trust (GLD) reported its financial results for the quarter ending December 31, 2013. The Trust experienced a significant decline in its investment in gold, primarily driven by a substantial unrealized loss on its gold holdings. This resulted in a net loss from operations for the quarter, a stark contrast to the net gain reported in the same period of the prior year. Investors should note the Trust's core objective is to reflect the performance of gold bullion prices, less expenses. The reported period saw a decrease in both the market value and cost of gold held by the Trust, alongside a reduction in the number of outstanding Shares. The Trust's financial condition is directly tied to the price of gold, and the reported period reflects a downturn in gold prices contributing to the negative financial performance.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending June 29, 2013, reveals a significant decrease in the Trust's assets under management compared to the previous year. Total assets dropped from $50.7 billion to $37.1 billion, primarily due to a substantial outflow of gold and a decline in the market value of its gold holdings. This decrease is reflected in the number of outstanding shares, which fell from 437.9 million to 322.4 million. The Trust experienced a considerable unrealized loss on its investment in gold during the nine-month period, impacting its overall performance. Despite the asset depreciation, the Trust reported a net gain from operations for both the three and nine-month periods. This gain was largely driven by substantial unrealized gains on gold distributed for share redemptions, which offset the unrealized losses on the investment. While operational expenses remained relatively stable, the decline in AUM suggests a challenging market environment for gold during this period. Investors should note the Trust's operational model where gold is sold to cover expenses, resulting in zero cash balance from operations.

This SEC filing for SPDR Gold Trust (GLD) for the quarter ending March 31, 2013, reveals a significant decrease in the Trust's assets and liabilities compared to the previous fiscal year's end. The total investment in gold, valued at cost, declined from $50.7 billion to $47.7 billion. This reduction is primarily driven by a substantial increase in share redemptions, which outweighed creations, leading to a decrease in outstanding shares and a corresponding drop in the value of redeemable shares. Despite the decrease in asset value, the Trust reported a considerable net gain from operations for the quarter and year-to-date, largely due to unrealized gains from the appreciation of gold holdings and gains on gold distributed for share redemptions. The market value of the Trust's gold holdings also saw a notable decline, reflecting broader market trends. For investors, the key takeaway is the inverse relationship between share redemptions and the Trust's overall asset value. The substantial gain on gold distributed for redemptions indicates a period where the Trust sold gold to meet redemption requests, which, coupled with an increase in the market value of gold relative to its cost basis, resulted in significant reported gains. However, the decrease in both cost and market value of gold holdings signals a shrinking asset base. Expenses remained relatively stable, with custody and trustee fees being minor components compared to sponsor and marketing agent fees. The Trust's operational model means it does not hold cash, with gold sales specifically earmarked for expenses.

The SPDR Gold Trust (GLD) 10-Q filing for the period ending December 30, 2012, reflects a decrease in the Trust's holdings and market value compared to the prior fiscal quarter, primarily driven by gold price depreciation. Despite this, the Trust continued to see inflows of gold through share creations, although redemptions also occurred. The Trust's primary asset remains its investment in gold bullion, valued at cost and market, with the market value lower than cost at period-end, indicating an unrealized loss. Operational gains were primarily derived from the appreciation of gold held by the Trust. Investors should note that the Trust's performance is directly tied to the price of gold. The filing highlights the impact of gold price fluctuations on the Trust's Net Asset Value (NAV) and Share price. While expenses are managed and covered by the sale of small amounts of gold, the Trust's objective is to mirror the price performance of gold bullion, less these operational costs. The Trust experienced a net gain from operations during the quarter, but this was lower than the same period in the prior year, consistent with the observed decrease in gold prices.

The SPDR Gold Trust (GLD) reported its financial results for the quarter and nine months ended June 30, 2012. The Trust's primary asset is gold bullion, and its objective is to reflect the performance of the price of gold. During the nine-month period, the Trust saw significant activity in both the creation and redemption of its shares, with a net increase in outstanding shares and a corresponding adjustment in the amount of gold held. The Trust's financial performance is directly tied to the fluctuations in the price of gold, which experienced volatility during the reporting period. Despite changes in gold prices, the Trust maintained a substantial gold reserve, valued at over $65 billion at the end of the period. Key financial metrics indicate a decrease in net gain from operations compared to the same period in the prior year, primarily driven by a lower gain on gold distributed for share redemptions. This reflects the dynamic nature of gold prices and investor activity. The Trust operates with minimal cash reserves, as gold is sold to cover expenses, aligning with its core strategy of holding gold as its primary asset. Investors should note that the Trust's performance is intrinsically linked to gold price movements and the associated costs of managing the trust.

SPDR Gold Trust (GLD) reported its financial results for the quarter and six months ended March 31, 2012. The Trust's primary asset is gold bullion, and its objective is to reflect the performance of the price of gold, less expenses. During the period, the Trust experienced significant increases in its gold holdings through creations and decreases through redemptions, reflecting investor activity in the gold market. The Trust's financial statements show a considerable unrealized gain on its gold investments, indicating that the market value of its gold holdings significantly exceeds its cost basis. Operationally, GLD generated gains from both the sale of gold to cover expenses and the distribution of gold during share redemptions. While the Trust does not hold cash balances as gold is sold to cover operational costs, the overall financial performance is closely tied to the fluctuations in the gold market. The report highlights the Trust's reliance on the London Fix for valuation and details the fees associated with its management by the Sponsor, Trustee, and Marketing Agent.

SPDR Gold Trust (GLD) reported its financial results for the quarter ending December 31, 2011. The Trust's primary asset is gold bullion, and its performance is directly tied to the price of gold. During the quarter, the Trust saw an increase in its gold holdings by volume, with creations exceeding redemptions. This activity resulted in a net gain from operations, although the net gain per share decreased compared to the same period in the prior year. Operationally, the Trust continues to manage its expenses by selling the minimal amount of gold necessary to cover costs. Consequently, the Trust does not maintain cash balances, and its cash flow from operations is negligible. Investors should note the Trust's reliance on the London Fix for valuation and the inherent risks associated with gold price volatility, currency fluctuations, and global economic events.

SPDR Gold Trust (GLD) reported its financial results for the period ending June 29, 2011. The Trust holds physical gold, and its performance is directly tied to the price of gold bullion. During the nine months ended June 30, 2011, the Trust saw a significant increase in its net gain from operations, driven primarily by substantial gains on gold distributed for share redemptions. The market value of the Trust's gold holdings increased, reflecting a rising gold price during the period. Investors should note that GLD does not generate operating cash flow as its expenses are paid by selling gold. The Trust's financial statements highlight the impact of gold price fluctuations on its assets and net gains. The report also details the fees associated with the Trust's management, including those paid to the Sponsor, Trustee, and Marketing Agent, and notes that fee reductions were in effect to limit the impact of expenses on the Net Asset Value (NAV).

SPDR Gold Trust (GLD) reported its quarterly results for the period ending March 31, 2011. The Trust's primary objective is to track the performance of gold bullion prices, less expenses. During the first six months of fiscal year 2011, the Trust saw a significant increase in its total gain on gold, driven by a substantial gain on gold distributed for share redemptions. The market value of the Trust's gold holdings increased, reflecting the rising price of gold during the period, with the average price for the six months ending March 31, 2011, at $1,376.90 per ounce. Investors should note that the Trust's financial statements show no cash and cash equivalents from operations, as gold is directly sold to cover expenses. The Trust's net asset value per share has been positively impacted by the appreciation of gold prices, with the redemption value per share also increasing significantly over the comparable prior period. The Trust's overall financial condition remains tied to the price of gold, and its operations are structured to reflect this through the creation and redemption of shares in exchange for physical gold.

SPDR Gold Trust (GLD) reported strong performance for the quarter ending December 31, 2010, driven by a significant increase in the price of gold. The Trust experienced substantial gains on gold distributed for share redemptions, contributing to a net gain from operations of $1.12 billion, a significant increase from $215.65 million in the prior year's comparable quarter. The market value of the Trust's gold holdings rose considerably to $58.39 billion from $54.65 billion at the end of the previous quarter, reflecting the upward trend in gold prices. Investors should note that the Trust's financial results are directly tied to the performance of gold, and while this period saw substantial gains, the value of an investment in GLD will fluctuate with gold prices. Key operational aspects include a decrease in the number of outstanding shares from 429.2 million to 421.7 million during the quarter, indicating net redemptions. Despite the increase in gold's market value, the Trust's statement of financial condition shows a shareholders' deficit of $20.02 billion, which is an accounting presentation related to the valuation of redeemable shares and should be viewed in conjunction with the significant unrealized gains on the gold holdings. The Trust continues to operate without any cash balances, as gold is directly used to cover operational expenses.

SPDR Gold Trust (GLD) reported its financial condition as of June 30, 2010, reflecting significant growth in its investment in gold compared to the prior year. The Trust's primary asset is gold bullion, which saw its cost value increase substantially from $28.5 billion to $37.5 billion, with a corresponding rise in market value to $52.6 billion. This growth is driven by consistent inflows of gold for share creations, outpacing redemptions and sales for expenses. Despite the increase in assets, the Trust's net gain from operations for the nine months ended June 30, 2010, was $520.8 million, a notable increase from the $122.7 million reported in the same period last year. This performance indicates a strong market for gold and investor confidence in GLD as an investment vehicle during the period. Investors should note that the Trust's financial statements highlight the direct correlation between the value of its shares and the price of gold. The Trust does not generate operational income and relies on selling gold to cover expenses, leading to a gradual decrease in the amount of gold represented by each share over time, irrespective of gold price movements. The report also details significant growth in outstanding shares, from 358.9 million in September 2009 to 433.9 million in June 2010, underscoring the Trust's increasing popularity. The market value of gold holdings significantly exceeded its cost, indicating a substantial unrealized gain, reflecting the strong appreciation of gold prices during the reporting period.

This 10-Q filing for SPDR Gold Trust (GLD) for the period ending March 31, 2010, showcases a significant increase in assets and a substantial net gain from operations compared to the prior year. The Trust's "Investment in Gold" grew to over $30.1 billion at cost, with a market value reaching approximately $40.3 billion, reflecting a considerable unrealized gain. This growth was driven by strong inflows of gold, indicated by the substantial increase in "Redeemable Shares" and "Shares issued and outstanding." Financially, the Trust reported a net gain from operations of $286 million for the quarter and $501.7 million for the first six months of the fiscal year, a dramatic improvement from a net loss in the comparable periods of the prior year. This profitability is primarily attributable to significant gains on gold distributed for share redemptions and sales to cover expenses, driven by the overall upward trend in gold prices. Investors should note that the Trust's primary risk remains the volatility of gold prices, which directly impacts the value of the Shares.

SPDR Gold Trust (GLD) reported strong performance for the quarter ending December 31, 2009, with a net gain of $215.7 million, a significant increase from $56.8 million in the same period of the previous year. This growth was primarily driven by substantial gains on gold distributed for share redemptions, totaling $245.5 million, reflecting a robust rise in gold prices. The Trust saw a notable increase in its investment in gold, which grew to a market value of $40.2 billion from $35.0 billion, indicating significant investor demand and rising gold prices. Total assets increased to $30.1 billion, up from $28.5 billion at the end of the prior quarter. The number of outstanding shares also grew substantially, with 371.8 million shares at quarter-end compared to 358.9 million at the end of the previous quarter, signaling increased investor participation. The net asset value (NAV) per share also saw a healthy increase, indicating the trust's ability to track the performance of gold bullion effectively despite associated expenses.