Summary
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.
Financial Highlights
17 data points| Gross Profit | $9.94M |
| Operating Expenses | $39.74M |
| Net Income | $215.65M |
| EPS (Basic) | $0.59 |
| Shares Outstanding (Basic) | 365.97M |
Key Highlights
- 1Net gain for the three months ended December 31, 2009, was $215.7 million, a significant increase from $56.8 million in the prior year's comparable period.
- 2Total gain on gold for the quarter was $255.4 million, primarily driven by $245.5 million in gains from gold distributed for share redemptions.
- 3Investment in gold (market value) increased to $40.2 billion as of December 31, 2009, from $35.0 billion as of September 30, 2009.
- 4Total assets grew to $30.1 billion at December 31, 2009, up from $28.5 billion at September 30, 2009.
- 5The number of outstanding shares increased to 371.8 million at December 31, 2009, from 358.9 million at September 30, 2009.
- 6The redemption value per redeemable share increased by 14.7% during the quarter, from $97.67 to $108.18.
- 7The Trust generated zero net cash flow from operations, consistent with its strategy of selling gold to cover expenses to minimize non-gold assets.