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SPDR Gold Shares ETF (GLD-0.53%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports that the Trust's net assets increased to $73,704,147,000 from $52,521,269,000 in the previous year, driven by a rise in the price of gold and net creations of shares.
The Trust's investment in gold was valued at $73,727,700,000 at the end of the fiscal year, with the gold price per ounce at $2,629.95, up from $1,870.50 the previous year.
The Trust's total expenses for the year were $242,094,000, primarily consisting of Sponsor fees, which are calculated at an annual rate of 0.40% of the daily NAV.
Net income for the year was $20,362,993,000, compared to $5,548,188,000 in the previous year, reflecting gains from the increase in gold prices.
The Trust created 82,600,000 shares and redeemed 82,000,000 shares during the year, resulting in a net increase of 600,000 shares outstanding.
The Trust's shares are backed by physical gold held in allocated form, with a total of 28,033,879 ounces of gold held by the Custodians at the end of the fiscal year.
The Trust does not hold any derivative instruments and its assets consist solely of gold bullion and, from time to time, cash to pay expenses.
The filing also highlights the risks associated with investing in the Trust, including fluctuations in the price of gold, potential discrepancies in the calculation of the LBMA Gold Price PM, and risks related to the custody of gold.
The Trust is not registered as an investment company under the Investment Company Act of 1940 and does not trade in commodity futures contracts regulated by the Commodity Exchange Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SPDR Gold Shares ETF annual 10-K report dated November 25, 2024. To report an error, please email earnings@qz.com.