Summary
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.
Financial Highlights
9 data points| Operating Expenses | $31.69M |
| Net Income | $2.75B |
| EPS (Basic) | $10.68 |
| Shares Outstanding (Basic) | 257.06M |
Key Highlights
- 1Net Assets increased substantially to $35.96 billion as of June 30, 2019, from $28.32 billion as of September 30, 2018, driven by gold price appreciation.
- 2The fair value of the Trust's gold holdings increased to $36.14 billion, reflecting a significant gain in gold prices during the period.
- 3The Trust reported a net income of $2.75 billion for the three months ended June 30, 2019, a strong recovery from a net loss of $2.02 billion in the prior year's comparable period.
- 4Net realized and change in unrealized gain/(loss) on investment in gold was a positive $2.78 billion for the three months ended June 30, 2019, compared to a negative $1.98 billion in the prior year.
- 5There was a net increase in the number of shares created (18.4 million) versus redeemed (14.6 million) for the nine months ended June 30, 2019, indicating net inflows.
- 6The Trust's net investment loss was minimal at $31.69 million for the three months ended June 30, 2019, demonstrating efficient cost management.
- 7Total return at net asset value for the three months ended June 30, 2019, was a positive 8.66%, indicating strong performance aligned with gold price movements.