GLD · SPDR Gold Trust

130 filings

GLD SEC Filings

SPDR Gold Trust - 130 total filings

Filing record · 2016–202610-K1110-Q338-K20

Showing 1–50 of 130 filings

SPDR Gold Trust 8-K Report, Executive Changes (Sep 28, 2026)

This 8-K filing for SPDR Gold Trust (GLD) announces a key change in its governance structure. World Gold Trust Services, LLC, the sponsor of GLD, has appointed Joan A. Binstock to its Board of Directors and the Audit Committee, effective September 28, 2026. This appointment brings a seasoned financial executive with extensive experience in financial services, risk management, and corporate governance to the trust's leadership. Ms. Binstock's broad background, including her previous role as Chief Financial Officer at Lord, Abbett & Co. LLC and her current advisory and board positions at various financial entities, suggests a focus on strengthening oversight and financial stewardship for GLD. Investors may view this appointment positively, as it indicates a commitment to maintaining robust governance and audit functions within the trust's management structure.

Sep 28, 2026 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2026

SPDR Gold Trust (GLD) reported its unaudited financial results for the quarter and nine months ended June 30, 2026. The Trust's primary asset is gold bullion, and its net assets have seen a significant increase in fair value compared to the previous fiscal year, driven by the appreciation of gold prices. As of June 30, 2026, the Trust held approximately 32,314.2 ounces of gold with a fair value of $130.1 billion, compared to $124.4 billion at September 30, 2025. The Trust's performance is directly tied to the price of gold. While the net asset value per share has seen fluctuations due to market movements, the overall trend reflects the volatility inherent in gold as an investment. Investors should note the continued reliance on LBMA Gold Price PM for valuation and the absence of active management or hedging strategies by the Trustee, meaning any losses in gold prices will directly impact the Net Asset Value. The Trust's expense ratio remains consistent at 0.40%.

Aug 4, 2026 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2026

SPDR Gold Trust (GLD) reported its financial condition as of March 31, 2026, and its results of operations for the three and six months ended on that date. The Trust holds a substantial amount of gold, with its primary asset being "Investments in Gold, at fair value," valued at approximately $155 billion as of March 31, 2026. This represents nearly the entirety of its total assets, which stood at $155.17 billion. The Trust's Net Assets were $155.11 billion, with a Net Asset Value (NAV) per Share of $423.34. For the six months ended March 31, 2026, the Trust experienced a net increase in Net Assets of $25.72 billion resulting from operations. This was driven by significant net realized and unrealized gains on its gold holdings, amounting to $26.02 billion, which more than offset the net investment loss and sponsor fees. The Trust's operations are characterized by the creation and redemption of Shares in exchange for gold, with substantial activity observed in both for the reporting period. The Trust continues to operate as a single segment, with its objective being to reflect the performance of the price of gold bullion.

May 5, 2026 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Feb 9, 2026)

This 8-K filing from SPDR Gold Trust (GLD) announces a key leadership change within its sponsor, World Gold Trust Services, LLC. Effective February 9, 2026, Joseph R. Cavatoni is stepping down as Principal Executive Officer of the Sponsor to focus on expanded responsibilities at the World Gold Council. His departure is not attributed to any disagreements regarding the Trust's operations or policies. Jonathan D. Spiegel has been appointed as the new Principal Executive Officer of the Sponsor. Mr. Spiegel brings a wealth of experience in ETF product development and fund management, having previously held senior roles at New York Life Investment Management, Goldman Sachs Asset Management, and Morgan Stanley Investment Management. His background suggests a strong understanding of investment products and market strategies relevant to GLD.

Feb 9, 2026 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2025

SPDR Gold Trust (GLD) reported a significant increase in Net Assets for the quarter ended December 31, 2025, driven by a substantial rise in the value of its gold holdings. Net Assets grew from $124.5 billion to $148.2 billion, reflecting the appreciation of gold prices during the period. This surge in asset value is primarily attributable to a significant unrealized gain on gold, indicating a favorable market environment for the precious metal. Investors should note that the Trust's performance is directly tied to the price of gold, and the reported period saw a strong positive correlation between gold price movements and the Trust's Net Asset Value per Share, which increased from $352.09 to $396.12.

Feb 4, 2026 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2025

SPDR Gold Trust (GLD) reported its annual results for the fiscal year ending September 29, 2025. The Trust's primary objective remains to reflect the performance of the price of gold bullion, less its expenses. The value of the Trust's holdings is directly tied to the market price of gold, which experienced significant appreciation during the reporting period. The Trust maintained substantial gold reserves, with its market value increasing substantially year-over-year. Key operational aspects include the continuous oversight by the Sponsor, World Gold Trust Services, LLC, and the custodial services provided by HSBC and JPMorgan Chase Bank, N.A. The Trust operates as a passive investment vehicle, holding physical gold, and does not engage in derivative trading. While the Trust's net asset value has grown, investors should remain aware of the ongoing expenses, which are paid through the sale of gold, leading to a gradual decrease in the amount of gold represented per share over time. The report also highlights the Trust's adherence to cybersecurity best practices through its Sponsor and service providers.

Nov 25, 2025 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2025

SPDR Gold Trust (GLD) reported substantial growth in its Net Assets for the nine months ending June 30, 2025, increasing from $73.7 billion to $100.6 billion. This growth was primarily driven by a significant increase in the fair value of its gold holdings, which rose from $73.7 billion to $100.9 billion, reflecting a strong upward trend in gold prices during the period. The Trust experienced substantial inflows of gold through share creations, totaling $35.4 billion, outpacing redemptions of $27.1 billion over the nine-month period. This indicates strong investor demand for gold exposure via the GLD ETF. Net income for the nine months ending June 30, 2025, reached $18.7 billion, a notable increase from $12.2 billion in the prior year's comparable period. This rise in profitability is largely attributable to the substantial unrealized gains on gold holdings, which amounted to $10.1 billion for the period. Investors in GLD benefit from this performance, as the ETF's Net Asset Value per Share increased significantly from $243.01 at the beginning of the period to $302.87 at the end. The Trust continues to operate with a consistent expense ratio of 0.40%, as the Sponsor absorbs ordinary expenses in exchange for the management fee.

Aug 6, 2025 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2025

SPDR Gold Trust (GLD) reported a significant increase in Net Assets for the quarter ended March 31, 2025, reaching $93.45 billion, up from $73.70 billion at the end of the previous fiscal year. This growth was primarily driven by a substantial increase in the market value of its gold holdings, which rose to $93.34 billion from $73.73 billion, reflecting an appreciation in gold prices. The Trust experienced robust activity in share creation and redemption, with net creations of 22,000,000 shares, translating to a net increase in the value of shares created and redeemed of $6.08 billion. This indicates strong investor demand for gold exposure through the Trust. Despite a net investment loss of $80.4 million for the quarter, the Trust's overall performance was boosted by significant unrealized gains on its gold holdings, leading to a reported net income of $14.27 billion for the three months ended March 31, 2025.

May 7, 2025 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2024

SPDR Gold Trust (GLD) reported its first-quarter fiscal 2025 results (quarter ended December 31, 2024) in this 10-Q. The Trust's sole business is holding allocated gold bullion, and it has no operating revenue. Net assets fell to $73.22 billion at December 31, 2024 from $73.70 billion at September 30, 2024, a decline of about 0.7%. Net asset value per share dropped from $243.01 to $241.00, and the Trust reported a net loss of $604.3 million, or $(1.98) per share, for the quarter. The loss reflects a $2.70 billion unrealized loss on gold, partly offset by $2.15 billion of realized gains on gold distributed for share redemptions. Gold prices rose during the period, but the Trust's NAV still declined because of the gold price path within the quarter and the timing of the valuation date. Note that the NAV per share fell even though the LBMA Gold Price rose from about $2,630 to $2,611 at period end. Investors should treat the reported loss as a mark-to-market effect on the Trust's gold holdings rather than an operating result. Flows were modest relative to the Trust's size. The Trust created 29.6 million shares (296 baskets) and redeemed 29.1 million shares (291 baskets), leaving a net increase of 500,000 shares outstanding, which reached 303.8 million. Creations and redemptions were valued at $7.27 billion and $7.16 billion, respectively. The Trust's gold holdings were 28,052,231.5 ounces at December 31, 2024, fully allocated London Good Delivery bars held by HSBC and JPMorgan. The expense structure is unchanged, with a sponsor fee of 0.40% of NAV, which cost $75.7 million in the quarter, up from $55.7 million a year earlier. Management reported that disclosure controls were effective, that there were no legal proceedings, and that there were no subsequent events requiring disclosure. The filing shows a fund with a single, passive exposure to gold and no leverage, derivatives, or hedging. Its performance therefore tracks the LBMA gold price less expenses, with the sponsor fee creating a steady drag over time. Investors should recognize that the trust's NAV and market price can diverge from the gold spot price, and that the filing offers no forward-looking guidance on gold prices or flows.

Feb 5, 2025 10-K

SPDR Gold Trust Annual Report (Amendment), Year Ended Sep 30, 2024

The SPDR Gold Trust (GLD) filed an amendment to its 10-K annual report on December 19, 2024, pertaining to the period ending September 29, 2024. This filing primarily serves to update and provide access to various exhibits and agreements related to the Trust's operations. Importantly, the Trust has reaffirmed its management's assessment of internal control over financial reporting, as attested by its registered public accounting firm, KPMG LLP. This amendment does not introduce new financial statements or alter previously issued financial information, but rather consolidates and references essential legal and operational documents that underpin the Trust's structure and governance.

Dec 19, 2024 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2024

SPDR Gold Trust (GLD) has filed its 10-K for the fiscal year ending September 29, 2024. The Trust's primary objective is to reflect the performance of the price of gold bullion, less operational expenses. The Trust holds physical gold bullion in allocated accounts with custodians HSBC Bank plc and JPMorgan Chase Bank, N.A. The report highlights that the Trust's assets are entirely composed of gold, with no derivative instruments employed. For the year ended September 30, 2024, the Trust experienced significant growth in net assets, driven by a substantial increase in the market value of its gold holdings. The net income for the year was $20.36 billion, a considerable increase from the prior year, reflecting the appreciation of gold prices. The Trust's operational expenses are covered by selling gold as needed, and the sponsor's fee remains a consistent 0.40% of the daily Net Asset Value (NAV). Investors should note that the value of the Shares directly correlates with the price of gold, and the Trust's passive investment strategy means it does not engage in active management or hedging.

Nov 25, 2024 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2024

SPDR Gold Trust (GLD) has reported its financial results for the quarterly period ending June 29, 2024. The Trust's Net Assets significantly increased to $62.11 billion from $52.52 billion at the end of the prior fiscal year. This growth is primarily driven by a substantial increase in the fair value of its gold holdings, which rose to $62.13 billion from $52.54 billion, reflecting a positive trend in gold prices. The Net Asset Value (NAV) per share also saw a notable increase, reaching $215.58 compared to $173.51 in the prior year. The Trust experienced net creations of shares during the nine-month period, with redemptions exceeding creations in terms of value, resulting in a net decrease in the value of shares created and redeemed. Despite a net investment loss primarily due to sponsor fees, the significant gains from the change in unrealized value of gold holdings led to a substantial net income for the period. Investors should note that GLD's performance is directly tied to the price of gold, and the Trust does not engage in hedging activities.

Aug 6, 2024 8-K

SPDR Gold Trust 8-K Report, Corporate Update (May 29, 2024)

SPDR Gold Trust (GLD) has filed an 8-K report to announce amendments to its governing agreements, aligning with the industry-wide shift to a T+1 (trade date plus one business day) settlement cycle, effective May 28, 2024. This change shortens the settlement period from the previous T+2 standard and impacts the creation and redemption procedures for the Trust. The amendments affect key agreements including the Trust Indenture, Allocated Bullion Account Agreement with HSBC, Unallocated Bullion Account Agreement with HSBC, and Participant Agreements. These adjustments are designed to ensure smooth operational transitions and continued compliance with evolving market standards for gold ETF transactions. Investors in GLD can anticipate a more immediate settlement of their trades going forward.

May 29, 2024 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2024

SPDR Gold Trust (GLD) reported its first quarter 2024 financial results, reflecting a significant increase in the value of its gold holdings driven by favorable market conditions. The Trust saw its Net Assets grow from approximately $52.5 billion at the end of the prior fiscal year to nearly $59.1 billion as of March 31, 2024. This appreciation is primarily due to a substantial unrealized gain on its gold investments, underscoring the Trust's role as a direct investment vehicle for gold bullion. Despite the increase in asset value, the Trust experienced a net decrease in the number of outstanding shares during the period, with redemptions exceeding creations. Expenses, primarily sponsor fees, remained a consistent factor, though the Trust effectively manages these by selling small amounts of gold. Investors should note that the Trust's performance is directly tied to the price of gold, and the reported figures reflect both realized and unrealized gains/losses on its gold holdings.

May 8, 2024 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Apr 1, 2024)

The SPDR Gold Trust (GLD) filed an 8-K on April 1, 2024, reporting a change in its leadership structure. Effective March 29, 2024, James Lam has stepped down from his positions as a member of the audit committee and board of directors of World Gold Trust Services, LLC, the sponsor of the Trust. This change is noted as not stemming from any disagreements regarding the Trust's operations, policies, or practices, which is a positive indicator of continuity and stability. For investors in GLD, this filing primarily signals a personnel change within the management entity responsible for the Trust. The absence of any stated disagreements suggests that this transition is expected to be smooth and should not materially impact the Trust's operational integrity or its investment objective of tracking the price of gold. Investors should continue to monitor the Trust's performance and any further announcements regarding board composition or sponsor management.

Apr 1, 2024 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2023

SPDR Gold Trust (GLD) reported strong performance for the quarter ending December 31, 2023, driven by a significant increase in the fair value of its gold holdings. The Trust's net assets grew to $58.27 billion, up from $52.52 billion at the end of the previous quarter. This growth was primarily fueled by a substantial unrealized gain on its gold investments, reflecting the rising price of gold. The Net Asset Value (NAV) per Share increased to $191.12 from $173.51, indicating positive returns for shareholders. Operationally, the Trust saw a net increase in shares outstanding due to higher creation activity compared to redemptions, signifying investor demand. Total expenses remained stable and are consistent with the Trust's expense ratio, which is managed to track the performance of gold bullion. The Trust continues to hold 100% allocated gold bullion, with no exposure to derivative instruments, aligning with its objective of providing direct market exposure to gold prices.

Feb 8, 2024 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2023

SPDR Gold Trust (GLD) filed its annual report on Form 10-K for the period ending September 29, 2023. The Trust's primary objective is to reflect the performance of the price of gold bullion, less expenses. The report indicates that the Trust holds a significant amount of gold, with its value primarily determined by the LBMA Gold Price PM. Key operational aspects include the creation and redemption of shares in Baskets by Authorized Participants and the management of gold custody by HSBC and JPMorgan. The Trust's financial performance for the fiscal year ending September 30, 2023, showed a net income of $5,548,188,000, a significant turnaround from the net loss of $(2,944,530,000) in the prior year. This was primarily driven by a substantial unrealized gain on gold holdings, reflecting the increase in gold prices during the period. The Trust's expenses, mainly the sponsor fee, are paid by selling gold, which can impact the amount of gold held per share over time. Investors are cautioned about the inherent risks associated with gold price volatility and the operational aspects of the Trust.

Nov 22, 2023 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Sep 12, 2023)

This 8-K filing for SPDR Gold Trust (GLD) on September 12, 2023, primarily reports a significant change in its governance structure. World Gold Trust Services, LLC, the sponsor of GLD, has appointed James Lam to its Board of Directors and the Audit Committee, effective September 12, 2023. Mr. Lam brings extensive experience in risk management and corporate governance, having founded James Lam & Associates and held previous high-level positions at ERisk, Oliver Wyman, and Fidelity Investments. His expertise in enterprise risk management, coupled with a history of board leadership roles across various public and private companies, is expected to enhance the Sponsor's oversight and strategic direction. Investors may view this appointment as a positive step towards strengthening governance and risk oversight within the trust's operational framework.

Sep 12, 2023 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2023

SPDR Gold Trust (GLD) reported its financial results for the period ending June 30, 2023. The Trust's primary asset is gold bullion, and its investment objective is to mirror the performance of the gold price, net of expenses. As of June 30, 2023, the Trust held approximately 29,797.5 ounces of gold valued at $56.98 billion, an increase from $50.69 billion at September 30, 2022. This increase is largely attributable to a rise in the market price of gold. The Trust experienced a net investment loss of $59.1 million for the three months ended June 30, 2023, offset by significant net realized and unrealized gains on its gold holdings, resulting in a net loss of $2.08 billion for the quarter. However, for the nine months ended June 30, 2023, the Trust reported a net income of $6.77 billion, driven by substantial unrealized gains on its gold investments. The Trust's Net Asset Value (NAV) per share stood at $177.56 as of June 30, 2023, up from $155.69 at September 30, 2022. The total return for the nine months ended June 30, 2023, was 14.05% at NAV and 15.26% at market value. Investors should note that the Trust's performance is directly tied to the price fluctuations of gold. While the Trust's expenses are nominal (0.40% annually), they do have a cumulative effect on returns over time, as indicated by the slight divergence between share price/NAV and the gold price.

Aug 7, 2023 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2023

SPDR Gold Trust (GLD) reported strong performance for the six months ended March 31, 2023, driven by a significant increase in the fair value of its gold holdings. Net assets grew substantially to $59.05 billion from $50.49 billion at the end of the prior fiscal year. This growth was primarily fueled by a $8.46 billion unrealized gain on its gold investments, reflecting a positive trend in gold prices during the period. Despite managing expenses, the Trust's investment objective remains to mirror the price of gold, less operational costs, which were approximately 0.40% of average net assets. During the six-month period, the Trust saw net redemptions in terms of share volume, with 3.4 million fewer shares outstanding. However, the value of these redemptions was less than the value of creations, indicating an overall increase in the net asset value per share to $184.01 from $155.69. Investors should note that the Trust's performance is directly tied to the fluctuations in the global gold market, and while it offers a straightforward way to gain exposure to gold, it does not involve active management or hedging strategies.

May 9, 2023 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Mar 29, 2023)

The SPDR Gold Trust (GLD) filed an 8-K report on March 29, 2023, to announce a change in its governance structure. Specifically, Sara Sprung has departed from her roles as a member of the audit committee and board of directors of World Gold Trust Services, LLC, the sponsor of the Trust. This departure is stated to be amicable and not due to any disagreements concerning the Trust's operations, policies, or practices. For investors in GLD, this change in personnel at the sponsor level is generally considered routine and is not expected to have a direct impact on the Trust's investment objective or the value of the gold bullion it holds. The filing confirms that the sponsor's operations remain unaffected by this change, assuring continuity for the Trust.

Mar 29, 2023 8-K

SPDR Gold Trust 8-K Report, Corporate Update (Mar 1, 2023)

This 8-K filing from SPDR Gold Trust (GLD) reports on amendments made to its Custodial Agreements. Specifically, the Allocated Bullion Account Agreement and the Unallocated Bullion Account Agreement have been amended to grant the Trustee, The Bank of New York Mellon, the flexibility to instruct HSBC Bank plc, the custodian, to transfer the Trust's gold to another custodian or accept gold from a new custodian via book entry. These changes are effective as of February 28, 2023. These amendments are significant for investors as they enhance the operational flexibility and risk management of the Trust. By allowing for easier transitions to alternative custodians, the Trust can better ensure the security and efficient management of its gold holdings, potentially mitigating risks associated with a single custodian and improving its ability to adapt to changing market or operational needs.

Mar 1, 2023 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2022

SPDR Gold Trust (GLD) reported its financial position for the quarter ending December 31, 2022. The Trust's primary asset is gold bullion, which is valued at $53.52 billion, an increase from $50.69 billion at the end of the previous quarter. This increase in gold value, driven by a net change in unrealized gains of over $3.9 billion, contributed to a substantial rise in Net Assets to $53.45 billion from $50.49 billion. During the quarter, GLD experienced net redemptions, with more shares being redeemed than created, resulting in a decrease in the number of outstanding shares to 317 million from 324.3 million. Despite these redemptions, the Net Asset Value (NAV) per Share increased to $168.62 from $155.69, reflecting the appreciation in the underlying gold price. Investors should note that while the Trust's NAV per Share saw a significant positive return of 8.30% for the quarter, the primary driver of performance is the movement in the spot price of gold, with GLD's expenses accounting for a minor drag.

Feb 9, 2023 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Jan 3, 2023)

This 8-K filing for SPDR Gold Trust (GLD) reports a change in its sponsoring entity's board. Specifically, Neal Wolkoff's term as a director of World Gold Trust Services, LLC, the Trust's sponsor, expired on January 1, 2023, and he will not be continuing in that role. This transition is stated to be amicable and not due to any disagreements regarding the Trust's operations, policies, or practices. For investors in GLD, this event is primarily an administrative and governance update. It does not directly impact the Trust's holdings of physical gold, its pricing mechanisms, or its operational objectives. The change in directorship at the sponsor level is a routine corporate governance matter and is not expected to have any material effect on the performance or structure of the SPDR Gold Trust itself.

Jan 3, 2023 8-K

SPDR Gold Trust 8-K Report, Material Agreement (Nov 30, 2022)

SPDR Gold Trust (GLD) has announced a significant operational update through an 8-K filing on November 30, 2022. The primary development is the appointment of JPMorgan Chase Bank, N.A. (JPM) as a second custodian for the Trust's gold holdings, effective December 6, 2022. This move diversifies the custodial services for GLD, adding JPM's vaults in London, New York, and Zurich to the existing safekeeping provided by HSBC Bank plc. This expansion of custodial arrangements is intended to enhance the security and operational resilience of the Trust. The Trust Indenture, Participant Agreements, and Marketing Agent Agreement have all been amended to reflect JPM's new role. Investors should view this as a measure to strengthen the infrastructure supporting the physical gold backing of GLD, potentially reducing single points of failure and improving overall operational capacity.

Nov 30, 2022 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2022

SPDR Gold Trust (GLD) reported its fiscal year ended September 30, 2022 in this 10-K, filed November 23, 2022. The Trust holds only allocated London gold bullion (30.32 million ounces, 100% allocated, held by HSBC as custodian) and does not use derivatives or active management. Its gold was valued at $50.69 billion at the LBMA Gold Price PM of $1,671.75 per ounce, down from $55.47 billion a year earlier, so net assets fell to $50.49 billion. Net asset value per Share ended the year at $155.69, versus $162.96 a year earlier, a total return at NAV of -4.46%. The Trust posted a net loss of $2.94 billion ($8.39 per share), driven by an unrealized depreciation of $4.83 billion on gold holdings, partly offset by $2.09 billion of realized gains on gold distributed for share redemptions. Share flows were net negative in FY2022: 97.8 million shares were created and 113.8 million redeemed, leaving 324.3 million shares outstanding (down from 340.3 million). Because the Trust redeems gold only in Baskets and the sponsor fee of 0.40% of NAV is its only recurring expense (paid from gold sales, $238.5 million in FY2022), the amount of gold per share declines steadily over time. Investors should understand that the Shares track gold less this erosion, that gold price moves drive nearly all of the Trust's value, and that the Trust carries custody-related risks, including limited recourse against the custodian and subcustodians and unallocated gold held temporarily during creations and redemptions. The filing also flags geopolitical and market-structure risks: the Russia-Ukraine conflict and related sanctions on Russian gold, and reliance on the LBMA Gold Price PM as the valuation benchmark. The auditor, KPMG, issued unqualified opinions on both the financial statements and internal control over financial reporting, and the Trust reported no material weaknesses. Taken together, the filing shows a passive, low-cost gold vehicle whose FY2022 performance tracked a weaker gold price and modest net redemptions.

Nov 23, 2022 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Oct 13, 2022)

SPDR Gold Trust (GLD) has announced a key leadership change within its sponsor, World Gold Trust Services, LLC. On October 13, 2022, Amanda Krichman was appointed as the Principal Financial and Accounting Officer of the Sponsor. This role is critical for overseeing the financial and accounting operations that directly impact the Trust. Ms. Krichman brings a strong background in financial services, particularly within the exchange-traded fund (ETF) space. Her prior experience includes significant roles at Goldman Sachs Asset Management and New York Life Investments, where she was involved in registered fund services and ETF product development. Investors may find this appointment reassuring given her established expertise in managing financial and accounting functions for investment products. The change signifies continuity in experienced financial leadership for the Trust's operations.

Oct 13, 2022 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2022

SPDR Gold Trust (GLD) reported unaudited results for the third quarter and nine months ended June 30, 2022 (fiscal Q3 2022). Net assets were $61.34 billion at June 30, 2022, up from $55.46 billion at September 30, 2021, equal to $169.39 per share on 362.1 million shares outstanding. The Trust holds 33,898.9 thousand ounces of gold (about 33.9 million ounces) at fair value of $61.59 billion, against a cost basis of $55.05 billion. The Trust has no derivatives, no debt, and no active management; its only recurring expense is the 0.40% annual Sponsor fee, which is funded by selling gold. For the three months ended June 30, 2022, the Trust posted a net loss of $4.46 billion, or $(12.01) per share, driven by a $5.33 billion unrealized loss on gold as the gold price fell during the quarter. For the nine months, the Trust earned net income of $1.81 billion, or $5.11 per share, as unrealized gains of $299 million and realized gains of $1.69 billion from gold distributed for redemptions more than offset the $183 million Sponsor fee. The quarter's share activity was net redemptions: 25.9 million shares were created and 39.7 million were redeemed. Over the nine months, net creations of 21.8 million shares increased net assets by $4.07 billion in value terms. The filing also adds a risk factor update on the Russia-Ukraine conflict. The LBMA suspended six Russian refiners, and the UK, US, and EU have restricted Russian-origin gold. Management says these events have not materially affected Trust operations or gold and share prices to date. Management also concluded that disclosure controls were effective, and there was no material change in internal control over financial reporting.

Aug 5, 2022 8-K

SPDR Gold Trust 8-K Report, Corporate Update (May 16, 2022)

SPDR Gold Trust (GLD) has filed an 8-K report to disclose an amendment to its Allocated Bullion Account Agreement. The key change is the removal of the Trust's obligation to comply with the rules of the London Precious Metals Clearing Limited (LPMCL). This amendment, effective April 29, 2022, was entered into by HSBC Bank plc (Custodian) and The Bank of New York Mellon (Trustee). This change is significant as it absolves GLD from adhering to LPMCL's confidential rules, to which the Trust itself is not a member. The Custodian, HSBC Bank plc, will continue to be bound by these rules. This amendment streamlines the operational requirements for the Trust without impacting the underlying physical gold holdings or the primary function of the GLD ETF.

May 16, 2022 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2022

The SPDR Gold Trust (GLD) reported strong growth in its net assets for the quarter ending March 31, 2022. Net assets increased to $68.13 billion from $55.46 billion at the end of the previous fiscal year. This growth was primarily driven by significant inflows of gold through share creations, which significantly outweighed redemptions. The Trust's investment in gold is valued at fair value and represents its primary asset, showing an appreciation in value during the period. Despite the increase in assets, investors should note that the Trust experienced a net investment loss due to sponsor fees. However, this was more than offset by substantial gains from unrealized appreciation on its gold holdings, leading to a net income of $3.92 billion for the quarter. The Trust's operational structure ensures that it holds no cash balances, as gold is sold to cover expenses, aligning its performance closely with the price of gold bullion, less fees.

May 9, 2022 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Apr 14, 2022)

SPDR Gold Trust (GLD) announced a change in its leadership structure via an 8-K filing on April 14, 2022. World Gold Trust Services, LLC, the sponsor of GLD, appointed two new members, Molly Duffy and Sarah J. Sprung, to its Board of Directors and Audit Committee. These appointments are effective as of April 11, 2022. The additions bring significant financial services and risk management expertise to the Sponsor's oversight. Ms. Duffy, with her extensive background in financial markets at Standard Chartered Bank and Credit Suisse, is expected to contribute to the strategic direction and governance of the Sponsor. Ms. Sprung, a seasoned professional with experience in portfolio management and risk oversight at firms like Moore Capital and Fortress Investment Group, will bolster the Audit Committee's capabilities, particularly in risk assessment and financial oversight. These appointments are not expected to directly alter GLD's investment objective or operations but signal a strengthening of the governance framework surrounding the Trust.

Apr 14, 2022 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Feb 11, 2022)

SPDR Gold Trust (GLD) has announced a change in its financial and accounting leadership. Brandon Woods has resigned from his position as Principal Financial and Accounting Officer of World Gold Trust Services, LLC (WGTS), the Trust's sponsor. This resignation is effective March 11, 2022, and importantly, it is stated that there were no disagreements related to the Trust's operations, policies, or practices that led to this departure. This suggests a smooth transition without underlying operational concerns. In response to Mr. Woods' resignation, WGTS has appointed Joseph R. Cavatoni, who currently serves as the Principal Executive Officer of WGTS, to also assume the role of interim Principal Financial and Accounting Officer. This appointment will also be effective from March 11, 2022. The dual role of Mr. Cavatoni is a measure to ensure continuity in financial and accounting oversight for the Trust.

Feb 11, 2022 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2021

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.

Feb 9, 2022 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2021

SPDR Gold Trust (GLD) reported its 10-K for the fiscal year ended September 30, 2021, filed November 24, 2021. The Trust holds only allocated gold bullion (no derivatives, no debt, no operating cash flow) with the custodian HSBC in London. At fiscal year-end, it held 31,830,401 ounces valued at $55.47 billion on the LBMA Gold Price PM of $1,742.80/oz, against net assets of $55.46 billion and 340.3 million shares outstanding (NAV of $162.96 per share). The Trust is a passive vehicle: gold is sold only to pay expenses, which are covered by a 0.40% annual Sponsor fee, and no gold is actively traded or hedged. Financially, the year was negative. The Trust recorded a net loss of $5.75 billion, or $(15.25) per share, driven by a $9.99 billion change in unrealized depreciation on gold, partly offset by $4.46 billion of realized gains on gold distributed for share redemptions. Total return was (8.01%) at NAV and (7.28%) at market value, versus gains of roughly 26-28% in fiscal 2020. Share count fell sharply, from 434.4 million to 340.3 million, as 161.6 million shares were redeemed against 67.5 million created, reflecting investor outflows as gold prices eased from their 2020 peak. For investors, the filing shows that GLD's value tracks gold closely, with the main risks being gold price volatility, custody arrangements (including unallocated balances and subcustodian reliance under English law), and the Trust's inability to hedge. Operating controls were assessed as effective by management and KPMG, which issued an unqualified opinion and identified the existence of gold holdings as its critical audit matter.

Nov 24, 2021 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2021

The SPDR Gold Trust (GLD) reported a significant decrease in its Net Assets and the value of its gold holdings for the period ending June 30, 2021, compared to September 30, 2020. Total Assets dropped from $76.98 billion to $59.28 billion, primarily due to a reduction in the fair value and quantity of gold held. Concurrently, the number of outstanding shares decreased from 434.4 million to 359.1 million, and the Net Asset Value (NAV) per share declined from $177.15 to $165.03. This reflects a period of gold price depreciation, as indicated by the Net change in unrealized depreciation on investment in gold for the nine months ended June 30, 2021, which was a loss of $8.8 billion. Despite the decline in gold's value, the Trust's operational expenses, primarily sponsor fees, remained relatively stable quarter-over-quarter. The Trust continues to operate as an investment vehicle for gold, with its performance directly tied to the price of gold bullion. Investors should note the significant redemptions of shares during the nine-month period, which resulted in a substantial outflow of gold, and understand that the Trust's NAV is directly influenced by gold market fluctuations and accumulated expenses.

Aug 5, 2021 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2021

SPDR Gold Trust (GLD) reported a significant decrease in net assets and share count for the quarter ended March 31, 2021, compared to the previous fiscal year-end. Total assets and net assets fell from $76.98 billion and $76.95 billion respectively at September 30, 2020, to $56.41 billion and $56.39 billion at March 31, 2021. This decline is primarily attributed to substantial redemptions of shares, with over 116 million shares redeemed during the six-month period ending March 31, 2021, compared to creations of just over 38 million shares. The Trust experienced a net investment loss and a significant net change in unrealized depreciation on its gold holdings. For the six months ended March 31, 2021, the Trust reported a net loss of $7.34 billion, largely driven by an unrealized depreciation of $10.61 billion in the value of its gold investments, partially offset by realized gains from gold distributed for redemptions and gold sold to pay expenses. Investors should note that the Trust's performance is directly tied to the price of gold bullion, and the substantial unrealized depreciation reflects a decline in gold prices during the period.

May 6, 2021 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2020

SPDR Gold Trust (GLD) reported net assets of $71.16 billion at December 31, 2020, down from $76.95 billion at September 30, 2020, a decline of about 7.5%. The drop reflects large net share redemptions rather than a sharp fall in the gold price. Shares outstanding fell from 434.4 million to 401.2 million, and net asset value per share edged up from $177.15 to $177.36, a gain of about 0.12%. The end-of-period LBMA gold price was $1,891.10 versus $1,886.90 at the prior quarter-end. For the quarter ended December 31, 2020, the Trust posted a net loss of $51.1 million, or $(0.12) per share, compared with net income of $1.02 billion, or $3.30 per share, in the prior-year quarter. The result reflects $74.5 million in Sponsor fees (0.40% annual rate), a $1.66 billion net change in unrealized depreciation on gold, and $1.67 billion in realized gains on gold distributed for redemptions. Creations totaled $2.81 billion while redemptions totaled $8.56 billion, a net outflow of roughly $5.74 billion. Gold holdings fell to 37.61 million ounces from 40.80 million ounces. The Trust holds only allocated gold bullion. It uses no derivatives, no leverage, and no active management, and it has no cash balance. Its gold is classified entirely as Level 1 fair value. Investors should note that the Trust passively tracks the gold price less expenses, so returns depend on gold price movements and the cumulative effect of the 0.40% fee. The filing also reports no material changes to risk factors, no legal proceedings, and effective disclosure controls.

Feb 5, 2021 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2020

SPDR Gold Trust (GLD) reported its fiscal year ended September 30, 2020 with net income of $13.08 billion, or $36.89 per share, driven almost entirely by gold price appreciation rather than operating activity. Net realized and unrealized gains on the gold holdings totaled $13.31 billion, while the only expense, the Sponsor's fee at 0.40% of daily NAV, came to $225.6 million. The Trust is passive: it holds no derivatives, earns no income, and sells gold only to pay expenses, so its net asset value tracks the LBMA Gold Price PM less accrued costs. The Trust's scale grew sharply during the year. Gold holdings rose to 40.8 million ounces, valued at $76.98 billion at September 30, 2020, up from $44.17 billion a year earlier. Shares outstanding increased from 314.0 million to 434.4 million, reflecting net creations of 120.4 million shares, and NAV per share rose 26.5% to $177.15. Net assets closed at $76.95 billion. The Trust's gold is 100% allocated London Good Delivery bars held by HSBC in London, and KPMG issued an unqualified audit opinion and an effective internal control opinion. For investors, the key points are that returns are tied to gold prices, the share count is shrinking in gold terms by roughly 0.4% per year through expense-driven sales, and the Trust carries concentration and custody-related risks, including limited recourse against the custodian and subcustodians and the absence of insurance on the Trust's gold. Shareholders have limited rights and no voting power over management decisions beyond narrow matters.

Nov 24, 2020 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Oct 2, 2020)

This 8-K filing for the SPDR Gold Trust (GLD) reports a change in the Principal Financial and Accounting Officer of its sponsor, World Gold Trust Services, LLC (WGTS). Laura Melman has departed from this role, with the company confirming it was not due to any disagreements regarding the Trust's operations, policies, or practices. This change is primarily administrative for the Trust's sponsor and does not directly impact the underlying gold holdings or the investment strategy of GLD.

Oct 2, 2020 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2020

The SPDR Gold Trust (GLD) 10-Q filing for the period ending June 30, 2020, reveals a significant increase in the Trust's assets and net asset value (NAV) compared to the previous year. Total assets grew from $44.17 billion to $67.02 billion, driven by a substantial appreciation in the value of its gold holdings. This surge is reflected in the NAV per Share, which increased from $140.00 to $166.16. The Trust experienced a significant net income of $5.29 billion for the quarter, a substantial rise from $2.75 billion in the prior year, largely due to a significant unrealized appreciation in its gold investments amidst market volatility. For the nine-month period ending June 30, 2020, the Trust saw a substantial increase in creations of Shares (89.2 million net shares) compared to the same period in the prior year (18.4 million net shares), indicating strong investor demand for gold as an asset. Despite increased sponsor fees, the Trust's net income for the nine months reached $8.65 billion, up from $5.37 billion in the prior year. The filing also addresses the impact of the COVID-19 pandemic, noting that while it has caused market volatility, it has not yet materially affected the Trust's operations.

Aug 7, 2020 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2020

SPDR Gold Trust (GLD) reported net assets of approximately $50.0 billion at March 31, 2020, up from $43.96 billion at September 30, 2019, an increase of roughly 13.8%. The Trust holds 31,014.7 ounces of gold (in thousands of ounces, per the schedule) with a fair value of $49.90 billion against a cost basis of $42.30 billion, and net asset value per share rose to $151.35 from $140.00. The Trust's only recurring expense is the 0.40% annual Sponsor fee, and it holds no derivatives or cash, so its results track the gold price closely. For the six months ended March 31, 2020, the Trust posted net income of $3.36 billion, or $10.81 per share, driven by a $2.50 billion unrealized gain on gold and $0.94 billion of realized gains on gold distributed for share redemptions. The quarter was particularly strong, with net income of $2.35 billion ($7.47 per share) as gold prices rallied to a period high of $1,683.65 per ounce on March 6, 2020. Net share creations of 16.4 million shares over the six months reflect strong investor demand, though the quarter also saw substantial redemptions of 31.4 million shares, with March alone accounting for 20.4 million. The filing highlights COVID-19 as a new risk factor, noting possible disruptions to the Sponsor, Trustee, and Custodian, as well as increased gold market volatility and the risk of a sustained premium or discount in the share price. Management stated that the pandemic had not materially affected Trust operations to date. Investors should also note that the Trust is passive, does not hedge, and that the Sponsor's fee directly reduces returns over time, as reflected in the gap between the Trust's NAV total return (8.11% for six months) and the market-value total return (6.61%).

May 8, 2020 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2019

SPDR Gold Trust (GLD) reported its financial condition for the quarter ending December 31, 2019. The Trust's Net Assets stood at approximately $43.72 billion, a slight decrease from $43.96 billion at the end of the previous quarter. This decrease was primarily driven by net redemptions of Shares, which outweighed creations. The Trust held approximately 28.7 million ounces of gold, valued at fair value of over $43.73 billion, representing 100.03% of Net Assets. For the three months ended December 31, 2019, the Trust reported a net income of $1.017 billion, a significant decrease from $2.282 billion in the same period of the prior year. This reduction was largely due to a substantial decrease in the net change in unrealized appreciation on investment in gold, which was $775.9 million in the current quarter compared to $2.35 billion in the prior year. Sponsor fees remained a key expense, totaling $43.3 million for the quarter.

Feb 7, 2020 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2019

SPDR Gold Trust (GLD) reported its fiscal year ended September 30, 2019 in this Form 10-K, filed November 25, 2019. The Trust holds physical gold bullion custodied by HSBC in London and issues Shares in Baskets of 100,000 Shares, with no derivatives and no active management. Its only recurring expense is the Sponsor fee of 0.40% of NAV, which totaled $135.2 million for the year, and the Trust funds it by selling gold monthly, so the share count and gold per share both decline over time absent creations. The key result for investors is the strong year for gold. Net assets rose to $43.96 billion from $28.32 billion, and net income was $7.25 billion, or $27.00 per share, compared with a loss of $2.62 billion in fiscal 2018. The NAV per Share increased from $112.35 to $140.00, a 24.61% total return at NAV (23.16% at market value). Gold holdings ended at 29.74 million ounces, valued at $1,485.30 per ounce on the LBMA Gold Price PM. Net creations were strong, with 144.9 million Shares created and 83.0 million redeemed, leaving 314.0 million Shares outstanding versus 252.1 million a year earlier. The filing also highlights structural risks. The Trust is passive, so it cannot hedge, and it sells gold to pay expenses regardless of price. Custody risk is significant: gold is held by a single custodian, HSBC, with no insurance by the Trust, limited Trustee oversight, and subcustodian arrangements governed by English law without written contracts. Unallocated gold balances would be unsecured claims in a custodian insolvency. KPMG gave unqualified opinions on both the financial statements and internal controls, and it identified the existence of gold holdings as a critical audit matter. Shares may trade at a premium or discount to NAV, particularly when COMEX and NYSE Arca trading hours do not overlap.

Nov 25, 2019 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2019

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.

Aug 6, 2019 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2019

The SPDR Gold Trust (GLD) 10-Q filing for the period ending March 30, 2019, indicates a significant increase in the Trust's assets and net asset value per share compared to the previous fiscal year-end. Total assets grew from approximately $28.3 billion to $32.7 billion, with the Net Asset Value (NAV) per share rising from $112.35 to $122.34. This growth is primarily driven by an increase in the fair value of the Trust's gold holdings, reflecting a positive net change in unrealized appreciation of $2.6 billion for the six months ending March 31, 2019. For the three months ended March 31, 2019, the Trust reported a net income of $344.8 million, a decrease from $706.8 million in the same period of the prior year. This was influenced by a lower net realized and change in unrealized gain/(loss) on investment in gold. Despite this quarterly dip, the six-month period shows robust net income of $2.6 billion, significantly up from $1.0 billion in the prior year's comparable period. The Trust's operations continue to be directly tied to the price of gold, with no active management or hedging strategies employed.

May 7, 2019 8-K

SPDR Gold Trust 8-K Report, Executive Changes (Feb 27, 2019)

SPDR Gold Trust (GLD) has filed an 8-K report on February 27, 2019, detailing changes in its Board of Directors. Aram Shismanian resigned from the Board of Directors of World Gold Trust Services, LLC (the Sponsor) effective February 25, 2019. Importantly, this resignation was not due to any disagreements regarding the Trust's operations, policies, or practices, which should provide comfort to investors. In a related move, the Sponsor appointed two new directors: David Tait and Carlos Rodriguez. David Tait, CEO of the World Gold Council, brings extensive experience in financial markets, including fixed income and asset management from prominent institutions like Credit Suisse and Goldman Sachs. Carlos Rodriguez, with a background in public finance, interest rate hedging, and proprietary investments from Merrill Lynch, WestLB AG, Deutsche Bank AG, and Credit Suisse, will also serve on the Audit Committee. These appointments bring significant financial expertise to the oversight of the Trust.

Feb 27, 2019 10-Q

SPDR Gold Trust Quarterly Report for Q1 Ended Dec 31, 2018

This 10-Q filing for SPDR Gold Trust (GLD) for the period ending December 30, 2018, reveals a significant increase in Net Assets, driven by a substantial rise in the value of its gold holdings. Total Assets grew from $28.3 billion to $32.4 billion, primarily due to an appreciation in the fair value of gold, which increased from $28.3 billion to $32.4 billion. This appreciation, coupled with a healthy net income of $2.28 billion for the quarter, led to a corresponding increase in Net Asset Value per Share from $112.35 to $121.16. The Trust experienced strong inflows of gold through share creations, with the value of creations ($3.21 billion) significantly outweighing redemptions ($1.36 billion) during the quarter. This indicates growing investor demand for gold exposure via the GLD ETF. Despite a modest net investment loss due to sponsor fees, the substantial gains in the value of gold more than compensated, resulting in robust overall performance. Investors should note that GLD's performance is directly tied to the price of gold, and the report highlights the Trust's strategy of holding physical gold without active management or hedging. The Trust maintains a simple operational structure with minimal liabilities, primarily consisting of sponsor fees, and it does not hold any cash, as expenses are settled by selling small amounts of gold. The filing confirms that GLD is not a shell company and its financial reporting is in accordance with U.S. GAAP.

Feb 8, 2019 10-K

SPDR Gold Trust Annual Report, Year Ended Sep 30, 2018

SPDR Gold Trust (GLD) filed its annual report on Form 10-K for the period ending September 29, 2018. The Trust's primary objective is to reflect the performance of the price of gold bullion, less its expenses. As of September 30, 2018, the Trust held approximately 23.86 million ounces of gold, valued at $28.33 billion. The Trust's net assets stood at $28.32 billion. For the fiscal year ended September 30, 2018, the Trust reported a net loss of $2.62 billion, primarily driven by a significant decrease in the unrealized appreciation of its gold holdings. This financial performance is directly tied to the fluctuations in the price of gold, which experienced volatility during the reporting period. The Trust's expenses, primarily the sponsor fee, are paid through the sale of gold, leading to a gradual decrease in the amount of gold represented by each outstanding share over time. Investors should note that the Trust is a passive investment vehicle and does not engage in active management or hedging strategies.

Nov 27, 2018 10-Q

SPDR Gold Trust Quarterly Report for Q3 Ended Jun 30, 2018

SPDR Gold Trust (GLD) reported its financial condition for the period ending June 30, 2018. The Trust's primary asset is its investment in gold, which decreased in fair value from $35,669,225,000 in September 2017 to $33,034,479,000 as of June 30, 2018. This decline reflects a significant unrealized depreciation in the value of its gold holdings during the period. Consequently, the Trust's Net Assets also decreased from $35,657,505,000 to $32,916,642,000, with the Net Asset Value (NAV) per Share falling from $121.91 to $118.45. Operationally, the Trust experienced a net loss of $2,020,347,000 for the three months ended June 30, 2018, largely driven by unrealized losses on its gold investment. The Trust's expense ratio remained stable at 0.40%. The number of outstanding shares also decreased significantly from 292,500,000 to 277,900,000 during the nine months ended June 30, 2018, indicating net redemptions. Investors should note the direct correlation between the Trust's performance and the price of gold, with its operations primarily focused on holding gold bullion.

Aug 7, 2018 10-Q

SPDR Gold Trust Quarterly Report for Q2 Ended Mar 31, 2018

The SPDR Gold Trust (GLD) reported its financial condition as of March 31, 2018. The Trust's primary asset is its investment in gold bullion, valued at $36.01 billion, representing 100.03% of its net assets. Total assets stood at $36.01 billion, with minimal liabilities of $12.16 million payable to the Sponsor. For the three months ended March 31, 2018, the Trust reported a net income of $706.78 million, a significant increase compared to the same period in the prior year, primarily driven by a substantial unrealized appreciation in the value of its gold holdings. The net asset value (NAV) per share increased to $125.53 from $121.91 at the end of the prior fiscal year. The Trust operates without holding any cash, as any operational expenses are covered by selling gold, minimizing non-gold assets.

May 2, 2018