SPDR GOLD TRUST Quarterly Report for Q3 Ended Jun 30, 2014

Summary

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.

Key Highlights

• 1Total Assets decreased to $31.34 billion as of June 30, 2014, from $35.81 billion as of September 30, 2013, primarily due to a decrease in the value of 'Investment in Gold'.
• 2The 'Investment in Gold' at cost decreased to $31.10 billion from $35.81 billion year-over-year, reflecting lower gold prices.
• 3Net gain from operations for the nine months ended June 30, 2014, was $229.5 million, a substantial decrease from $3.44 billion in the same period of the prior year.
• 4The Trust experienced significant outflows in share redemptions, with $8.95 billion worth of gold distributed for redemptions in the nine months ended June 30, 2014, compared to $22.44 billion in the prior year.
• 5The number of outstanding shares decreased to 264,000,000 as of June 30, 2014, from 301,600,000 as of September 30, 2013.
• 6The Trust held 25,239,039 ounces of gold as of June 30, 2014, valued at approximately $33.19 billion.
• 7The Trust had no cash balance at period end, as gold is sold to cover operational expenses.

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