10-QPeriod: Q1 FY2022

SPDR GOLD TRUST Quarterly Report for Q1 Ended Dec 31, 2021

Filed February 9, 2022For Securities:GLD

Summary

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.

Financial Highlights

10 data points
Beta

Net Income

$2.35B

EPS (Diluted)

$6.95

Total Assets

$57.09B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements
Beta
Operating Expenses$57.10M
Net Income$2.35B
EPS (Basic)$6.95
Shares Outstanding (Basic)337.52M

Key Highlights

  • 1Reported a net income of $2.35 million for the quarter, a significant improvement from a net loss of $51,000 in the prior year quarter.
  • 2Net assets increased to $57.07 billion as of December 31, 2021, from $55.46 billion as of September 30, 2021, driven by appreciation in gold prices.
  • 3The fair value of the Trust's gold holdings increased to $57.09 billion from $55.47 billion during the quarter.
  • 4Experienced net redemptions of Shares in both number (14.2 million) and value ($2.36 billion) during the quarter.
  • 5The Trust's investment objective is for its Shares to reflect the performance of the price of gold bullion, less the Trust's expenses.
  • 6Total expenses for the quarter were $57,105, a decrease from $74,531 in the prior year quarter.
  • 7The Trust held approximately 31,368.6 ounces of gold at December 31, 2021, valued at $57.09 billion.

Frequently Asked Questions

The primary asset held by SPDR Gold Trust (GLD) is physical gold bullion. The Trust's objective is for its Shares to reflect the performance of the price of gold bullion, less the Trust's expenses.

For the three months ended December 31, 2021, SPDR Gold Trust reported a net income of $2,346,648. This is a significant improvement compared to a net loss of $51,127 for the same period in the previous year.

The Trust's net assets increased from $55,455,274 (approximately $55.46 billion) as of September 30, 2021, to $57,074,810 (approximately $57.07 billion) as of December 31, 2021. This increase was primarily due to the net change in unrealized appreciation on its gold holdings.

During the three months ended December 31, 2021, SPDR Gold Trust experienced net redemptions. There were 9,600,000 shares created and 14,200,000 shares redeemed. In terms of value, $1,633,125,000 worth of shares were created and $2,360,237,000 worth of shares were redeemed, resulting in a net decrease in the value of shares.