What is the main change introduced by this amendment?

The primary change is that the Trustee will only issue and deliver Creation Baskets of GLD shares after the required amount of physical gold has been transferred from the Trust's Unallocated Account to its Allocated Account. This ensures gold is properly segregated before new ETF shares are created.

When does this new rule take effect?

The amendment becomes effective on August 1, 2014.

Does this amendment affect the price or value of GLD shares?

This amendment is an operational change related to the creation and redemption process of GLD shares. It does not directly impact the daily trading price or the Net Asset Value (NAV) of the ETF, which are primarily driven by the price of gold. However, it strengthens the assurance that GLD shares are backed by allocated gold.

Who are the parties involved in this amendment?

The amendment involves The Bank of New York Mellon, acting as the Trustee of the SPDR Gold Trust, and World Gold Trust Services, LLC, acting as the Sponsor of the Trust.

GLD 8-K SEC Disclosure — Jul 22, 2014

Summary

This 8-K filing from SPDR Gold Trust (GLD) on July 22, 2014, announces an amendment to its Participant Agreements, which will become effective on August 1, 2014. The key change involves the process for issuing Creation Baskets. Specifically, the Trustee will now only issue and deliver Creation Baskets after the corresponding gold deposit amount has been transferred from the Trust's Unallocated Account to its Allocated Account. This operational adjustment aims to enhance the security and integrity of the gold backing for the GLD ETF shares. For investors, this means a more defined and potentially more secure process for the creation and redemption of GLD shares, ensuring that physical gold is properly allocated before new baskets are issued. The amendment is a procedural update rather than a reflection of a change in the Trust's overall investment strategy or gold holdings.

Key Highlights

1Amendment No. 3 to SPDR Gold Trust Participant Agreements executed on July 18, 2014.
2The amendment concerns the process for issuing Creation Baskets of GLD shares.
3Effective August 1, 2014, Creation Baskets will only be issued after gold is transferred from the Trust Unallocated Account to the Trust Allocated Account.
4This change enhances the process for the physical gold backing of GLD shares.
5The amendment was executed by The Bank of New York Mellon (Trustee) and World Gold Trust Services, LLC (Sponsor).
6This is an operational update related to the creation/redemption mechanism of the ETF.

SPDR GOLD TRUST 8-K Report, Corporate Update (Jul 22, 2014)

Summary

Key Highlights

Frequently Asked Questions