10-QPeriod: Q3 FY2022

SPDR GOLD TRUST Quarterly Report for Q3 Ended Jun 30, 2022

Filed August 5, 2022For Securities:GLD

Summary

The SPDR Gold Trust (GLD) reported its quarterly results for the period ending June 30, 2022. Total assets increased to $61.6 billion from $55.5 billion in the prior year, primarily driven by an increase in the fair value of its gold holdings. Net assets also saw a rise, reaching $61.3 billion compared to $55.5 billion in the prior year. The Trust experienced a net investment loss of $64.8 million for the quarter, a slight increase from $60.1 million in the same period last year. However, this was offset by a significant net realized and unrealized gain on its gold investments. For the nine months ended June 30, 2022, the Trust reported net income of $1.81 billion, a substantial turnaround from a net loss of $5.08 billion in the corresponding period of 2021. This swing is largely attributable to a significant increase in the net change in unrealized gains on its gold holdings.

Financial Highlights

10 data points
Beta

Net Income

-$4.46B

EPS (Diluted)

$-12.01

Total Assets

$61.59B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements
Beta
Operating Expenses$64.77M
Net Income-$4.46B
EPS (Basic)$-12.01
Shares Outstanding (Basic)371.20M

Key Highlights

  • 1Total Assets grew to $61.6 billion as of June 30, 2022, from $55.5 billion as of September 30, 2021, reflecting an increase in the value of gold held.
  • 2Net Assets increased to $61.3 billion as of June 30, 2022, from $55.5 billion as of September 30, 2021.
  • 3The Trust experienced a net investment loss of $64.8 million for the three months ended June 30, 2022.
  • 4For the nine months ended June 30, 2022, the Trust reported a net income of $1.81 billion, a significant improvement from a net loss of $5.08 billion in the same period last year.
  • 5The net change in unrealized gain on investment in gold was $299.2 million for the nine months ended June 30, 2022, a substantial improvement from a loss of $8.8 billion in the prior year.
  • 6Shares issued and outstanding increased to 362.1 million from 340.3 million over the period.
  • 7The Trust had a gold payable of $237.2 million as of June 30, 2022, compared to no gold payable as of September 30, 2021.

Frequently Asked Questions

The investment objective of the SPDR Gold Trust is for its Shares to reflect the performance of the price of gold bullion, less the Trust's expenses. It provides investors with a convenient way to invest in gold.

The Trustee values the gold held by the Trust and determines the Net Asset Value (NAV) of the Trust based on the LBMA Gold Price PM (London Bullion Market Association Gold Price) on each day the NYSE Arca is open for regular trading, or at 12:00 PM New York time, whichever is earlier. If the LBMA Gold Price PM is not available, the next most recent LBMA Gold Price (AM or PM) is used.

The primary risk is the fluctuation in the price of gold bullion, which directly impacts the value of the Shares. The Trust does not actively manage its gold holdings or use hedging techniques, so any losses in gold value will adversely affect the Shares. Additionally, geopolitical events, such as the war in Ukraine, can increase market volatility and impact the price of gold and the Shares.

No, the SPDR Gold Trust does not pay dividends. As a grantor trust, its income and expenses flow through to shareholders, and the Trust's objective is to track the price of gold, not to generate income through dividends or interest.