SPDR GOLD TRUST
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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, 2026 · Filed May 5, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-12-31; filed 2026-02-04.
0001437749-26-002987
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-05.
0001437749-26-014926
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 26 previous paragraphs and 26 current paragraphs.
23 unchanged; 3 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 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 (3)
Previous wording
In the three months ended December 31, 2025, an additional 53,300,000 Shares (533 Baskets) were created in exchange for 4,903,850.2 ounces of gold, 32,800,000 Shares (328 Baskets) were redeemed in exchange for 3,017,850.2 ounces of gold, and 31,405.9 ounces of gold were sold to pay expenses. For accounting purposes, GLD 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, GLD delivers gold upon receipt of Shares. These creations and redemptions were completed in the normal course of business.
Current wording
In the three months ended March 31, 2026, an additional 39,000,000 Shares (390 Baskets) were created in exchange for 3,584,534.3 ounces of gold, 46,800,000 Shares (468 Baskets) were redeemed in exchange for 4,300,883.2 ounces of gold, and 32,336.2 ounces of gold were sold to pay expenses. For accounting purposes, GLD 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, GLD delivers gold upon receipt of Shares. These creations and redemptions were completed in the normal course of business.
Previous wording
At December 31, 2025, the amount of gold owned by the Trust and held by the Custodians was 34,465,627.3 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $148,476,199,205 based on the LBMA Gold Price PM on December 31, 2025 (cost— $90,954,943,426).
Current wording
At March 31, 2026, the amount of gold owned by the Trust and held by the Custodians was 33,634,221.4 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $154,998,264,698 based on the LBMA Gold Price PM on March 31, 2026 (cost— $96,197,525,739).
Previous wording
At September 30, 2025, the amount of gold owned by the Trust and held by the Custodians was 32,528,241.132 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $124,430,280,803 based on the LBMA Gold Price PM on September 30, 2025 (cost— $77,748,740,273).
Current wording
At September 30, 2025, the amount of gold owned by the Trust and held by the Custodians was 32,528,241.1 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $124,430,280,803 based on the LBMA Gold Price PM on September 30, 2025 (cost— $77,748,740,273).