World Gold Trust
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2023-12-31; filed 2024-02-08.
0001437749-24-003441
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-03-31; filed 2024-05-08.
0001437749-24-015322
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 25 previous paragraphs and 25 current paragraphs.
21 unchanged; 4 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (4)
Previous wording
As of the date of this quarterly report, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch Professional Clearing Corp., Morgan Stanley & Co. LLC, UBS Securities LLC, HSBC Securities (USA) Inc., and Virtu Americas LLC are the only Authorized Participants. An updated list of Authorized Participants can be obtained from the Sponsor.
Current wording
As of the date of this quarterly report, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, HSBC Securities (USA) Inc., and Virtu Americas LLC are the only Authorized Participants. An updated list of Authorized Participants can be obtained from the Sponsor.
Previous wording
Inspectorate International Limited (“Inspectorate”) conducts two counts each year of the gold bullion held on behalf of the Trust at the vaults of the Custodians. A complete bar count is conducted once per year and coincides with the Trust’s financial year end at September 30th. On October 2, 2023, Inspectorate completed the annual full count of the Trust’s gold bullion held by ICBC. The second count is a random sample count and is conducted at a date which falls within the same financial year and was conducted most recently on March 23, 2023. The results can be found onwww.spdrgoldshares.com. The Sponsor generally visits the vaults of the Custodians twice a year as part of its due diligence procedures.
Current wording
Inspectorate International Limited (“Inspectorate”) conducts two counts each year of the gold bullion held on behalf of the Trust at the vaults of the Custodians. A complete bar count is conducted once per year and coincides with the Trust’s financial year end at September 30th. On October 2, 2023, Inspectorate completed the annual full count of the Trust’s gold bullion held by ICBC. The second count is a random sample count and is conducted at a date which falls within the same financial year and was conducted most recently at JPMorgan's London Vault on March 18, 2024, and at ICBC's London vault on March 11, 2024. The results can be found onwww.spdrgoldshares.com. The Sponsor generally visits the vaults of the Custodians twice a year as part of its due diligence procedures.
Previous wording
In the three months ended December 31, 2023, 6,900,000 Shares (69 Creation Units) were created in exchange for 136,859.3 ounces of gold, 6,700,000 Shares (67 Creation Units) were redeemed in exchange for 132,905.3 ounces of gold and 753.1 ounces of gold were sold to pay Sponsor fees. For accounting purposes, GLDM reflects creations and redemptions on the date of receipt of a notification of a creation but does not issue Shares until the requisite amount of gold is received. Upon a redemption, GLDM delivers gold upon receipt of Shares. These creations were completed in the normal course of business.
Current wording
In the three months ended March 31, 2024, 10,500,000 Shares (105 Creation Units) were created in exchange for 208,214.6 ounces of gold, 6,900,000 Shares (69 Creation Units) were redeemed in exchange for 136,831.3 ounces of gold and 750.9 ounces of gold were sold to pay Sponsor fees. For accounting purposes, GLDM reflects creations and redemptions on the date of receipt of a notification of a creation but does not issue Shares until the requisite amount of gold is received. Upon a redemption, GLDM delivers gold upon receipt of Shares. These creations were completed in the normal course of business.
Previous wording
At December 31, 2023, the amount of gold owned by GLDM and held by the Custodians was 3,085,236.2 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $6,362,991,040 based on the LBMA Gold Price PM on December 31, 2023 (cost —$5,473,441,435).
Current wording
At March 31, 2024, the amount of gold owned by GLDM and held by the Custodians was 3,155,868.5 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $6,988,197,513 based on the LBMA Gold Price PM on March 31, 2024 (cost —$5,659,836,809).