What was the primary driver of the SPDR Gold Trust's performance in the period ending March 31, 2016?

The primary driver of the SPDR Gold Trust's positive performance was the significant unrealized appreciation in the market value of its gold holdings. This increase in the price of gold translated directly into a higher Net Asset Value (NAV) per Share.

How did investor demand for GLD change during this reporting period?

Investor demand for GLD increased significantly. This is evidenced by the substantial growth in the number of Shares issued and outstanding, which increased by approximately 44.8 million shares during the six months ended March 31, 2016, indicating strong inflows from investors.

What are the main expenses for the SPDR Gold Trust, and how are they managed?

The Trust's primary ongoing expense is the Sponsor's fee, which accrues daily at an annual rate of 0.40% of the daily NAV. Since July 17, 2015, the Sponsor has assumed responsibility for paying all ordinary fees and expenses of the Trust, including those of the Trustee, Custodian, and Marketing Agent.

Does the Trust hold any cash?

No, the SPDR Gold Trust typically does not hold any cash balances. When selling gold to pay expenses, the Trustee endeavors to sell the exact amount of gold needed to minimize holdings of assets other than gold, resulting in a zero cash balance at the end of reporting periods.

GLD 10-Q Quarterly Report Q2 FY2016 — Revenue, Net Income, EPS

Summary

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.

Financial Highlights

12 data points

Beta

Net Income

$3.80B

EPS (Diluted)

$15.51

Total Assets

$32.83B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements

Beta

Operating Expenses	$27.56M
Operating Income	-$27.56M
Net Income	$3.80B
EPS (Basic)	$15.51
Shares Outstanding (Basic)	244.85M

Key Highlights

1Net Asset Value (NAV) per Share increased significantly from $106.68 to $118.23 for the six months ended March 31, 2016.
2The Trust experienced substantial unrealized appreciation on its gold holdings, amounting to $3.07 billion for the six-month period.
3Total Assets grew by approximately 33% from $24.62 billion to $32.83 billion between September 30, 2015, and March 31, 2016.
4Shares issued and outstanding increased significantly by over 44.8 million shares, reflecting strong investor interest and capital inflows.
5The Trust maintained a single sponsor fee of 0.40% of daily NAV, with the sponsor assuming responsibility for all ordinary expenses.
6Gold holdings increased from approximately 21.99 million ounces to 26.48 million ounces during the six-month period.

SPDR GOLD TRUST Quarterly Report for Q2 Ended Mar 31, 2016

Summary

Financial Highlights

Key Highlights

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