What was the overall financial performance of GLD during the quarter?

For the three months ended December 31, 2024, SPDR Gold Trust (GLD) reported a net loss of $604,333,000. This contrasts with a net income of $5,270,767,000 in the same period of the prior year. The loss was driven primarily by a substantial unrealized loss on its gold holdings, despite significant realized gains from gold distributions for share redemptions.

How did the Net Asset Value (NAV) and total Net Assets change?

Net Assets decreased from $73,704,147,000 at September 30, 2024, to $73,215,075,000 at December 31, 2024. Consequently, the Net Asset Value (NAV) per Share also slightly decreased from $243.01 to $241.00 over the same period.

What are the primary drivers of GLD's results, and what is its main expense?

GLD's performance is directly tied to the market price of gold. The primary operational expense is the sponsor fee, which amounted to $75,692,000 for the quarter. The realized and unrealized gains or losses on gold holdings are the most significant factors impacting the Trust's overall net income or loss.

Was there significant activity in share creations and redemptions during the quarter?

Yes, there was significant activity. In the three months ended December 31, 2024, 29.6 million Shares were created and 29.1 million Shares were redeemed, resulting in a net increase of 0.5 million Shares (500,000 Shares). This indicates a slight net demand for GLD shares during the period.

GLD 10-Q Quarterly Report Q1 FY2025 — Revenue, Net Income, EPS

Summary

The SPDR Gold Trust (GLD) 10-Q filing for the period ending December 31, 2024, indicates a slight decrease in Net Assets from $73,704,147,000 to $73,215,075,000, primarily driven by a significant unrealized loss on its gold holdings. The Net Asset Value (NAV) per Share also saw a minor dip from $243.01 to $241.00. Operationally, the Trust experienced a net investment loss of $75,692,000 during the quarter, a direct result of sponsor fees. This loss was more than offset by substantial realized gains from gold distributed for share redemptions ($2,152,869,000), but a large unrealized loss on the gold portfolio $(-2,703,816,000)$ led to an overall net loss for the period. Investors should note that while the Trust aims to track the price of gold, its performance is directly tied to gold's market fluctuations and is subject to expenses. The filing also shows continued activity in share creation and redemption, with slightly more shares created than redeemed during the quarter.

Financial Highlights

10 data points

Beta

Net Income

-$604.33M

EPS (Diluted)

$-1.98

Total Assets

$73.24B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements

Beta

Operating Expenses	$75.69M
Net Income	-$604.33M
EPS (Basic)	$-1.98
Shares Outstanding (Basic)	305.43M

Key Highlights

1Net Assets decreased to $73.215 billion from $73.704 billion as of December 31, 2024, and September 30, 2024, respectively.
2NAV per Share declined to $241.00 from $243.01 over the same period.
3The Trust reported a net loss of $604,333,000 for the three months ended December 31, 2024, compared to a net income of $5,270,767,000 in the prior year period.
4A significant factor in the net loss was a change in unrealized loss on investment in gold amounting to $(2,703,816,000)$ for the quarter.
5Total expenses for the quarter were $75,692,000, primarily consisting of sponsor fees.
6Share creations exceeded redemptions by 500,000 shares, indicating slight net demand for the Trust's shares.
7The Trust holds 28,052.2 ounces of gold with a fair value of $73,240,169,000 as of December 31, 2024.

SPDR GOLD TRUST Quarterly Report for Q1 Ended Dec 31, 2024

Summary

Financial Highlights

Key Highlights

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