<SEC-DOCUMENT>0001193125-14-286430.txt : 20140730
<SEC-HEADER>0001193125-14-286430.hdr.sgml : 20140730
<ACCEPTANCE-DATETIME>20140730133536
ACCESSION NUMBER:		0001193125-14-286430
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20140730
DATE AS OF CHANGE:		20140730

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPDR GOLD TRUST
		CENTRAL INDEX KEY:			0001222333
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				522369757
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-180974
		FILM NUMBER:		141002205

	BUSINESS ADDRESS:	
		STREET 1:		C/O WORLD GOLD TRUST SERVICES LLC
		STREET 2:		510 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2123173800

	MAIL ADDRESS:	
		STREET 1:		510 MADISON AVENUE
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	streetTRACKS GOLD TRUST
		DATE OF NAME CHANGE:	20041008

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITY GOLD TRUST
		DATE OF NAME CHANGE:	20030310

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPDR GOLD TRUST
		CENTRAL INDEX KEY:			0001222333
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				522369757
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		C/O WORLD GOLD TRUST SERVICES LLC
		STREET 2:		510 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2123173800

	MAIL ADDRESS:	
		STREET 1:		510 MADISON AVENUE
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	streetTRACKS GOLD TRUST
		DATE OF NAME CHANGE:	20041008

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITY GOLD TRUST
		DATE OF NAME CHANGE:	20030310
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d767060dfwp.htm
<DESCRIPTION>HOW SPDR GOLD SHARES ARE CREATED AND REDEEMED
<TEXT>
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<TITLE>How SPDR GOLD Shares are Created and Redeemed</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant To Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration No. 333-180974 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>July 30, 2014 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>How SPDR<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Gold Shares are Created and Redeemed </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SPDR Gold Shares&#151;ticker symbol GLD&#151;offers
investors an innovative, relatively cost efficient and secure way to access the gold market, removing the barriers presented by the logistics of buying, storing and insuring physical gold. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors can buy and sell shares of GLD&#151;which are backed by physical gold bullion&#151;through exchanges around the world, including the New York Stock
Exchange, the Bolsa Mexicana de Valores, the Singapore Stock Exchange, the Tokyo Stock Exchange and the Stock Exchange of Hong Kong, much like any other stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">But you may be wondering&#133; Who creates those shares? Why and when are new shares created? And how is it done? </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Trust&#146;s Authorized Participants or APs are the only entities permitted to create and redeem GLD shares, which can only be done in blocks of 100,000
shares, called baskets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There are many reasons why an AP may choose to create or redeem a basket of shares, but the primary reason is to create inventory
for the secondary market, where investors buy and sell shares on an exchange just like any other security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Here&#146;s how the creation process works: An
AP initiates the creation of one or more baskets of shares by calling in an order to Bank of New York Mellon, GLD&#146;s trustee. The AP is then responsible for the delivery of gold in the form of London Good Delivery Bars to GLD&#146;s Trust, which
is held by the Trust&#146;s custodian, HSBC, in its vault in London. London Good Delivery Bars must be in compliance with the standards set forth by the London Bullion Market Association with respect to size, weight and fineness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each AP must establish an account with HSBC in order to process the gold transfers associated with creating and redeeming baskets. So the creation process
literally involves transferring bars of gold from the AP&#146;s account at HSBC to the Trust&#146;s account in exchange for one or more baskets of shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Once the gold is transferred from the AP to the Trust it becomes the property of the Trust, with no ties to any other entity, meaning no one else can make a
claim on that gold under any circumstances. The Trust holds only 100% fully allocated gold&#151;meaning gold that is physically identified as belonging to the Trust&#151;at the close of each business day. Also, the gold held by the Trust is never
traded, leased or loaned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">After the Trust confirms receipt of the gold bars from the AP, which typically takes three days, the Trust will then issue one
or more baskets of shares to the AP which can then be introduced to individual investors on the secondary market, or sold directly to large institutional investors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The redemption process works the same way as the creation process, just in reverse. APs buy back shares from individual investors on the secondary market, and
then deliver these shares to the Trust, taking physical possession of the gold in exchange for one or more baskets of shares. Only APs, not individual shareholders, can redeem shares from the Trust. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Understanding the creation and redemption process is key to understanding the unique structure of gold ETFs, allowing investors to more efficiently access the
gold market. To learn more about investing in gold, visit SPDR University at <U>www.spdru.com</U>. For more information on SPDR Gold Shares, visit <U>www.spdrs.com</U> or <U>www.spdrgoldshares.com</U>. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FOR PUBLIC USE. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Important Risk Information </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As with all investments, investing
in gold entails risk. There can be no assurance that gold will maintain its long-term value in terms of purchasing power in the future or that gold will continue to exhibit low to negative correlation with other asset classes. You could lose money
my investing in gold. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage
commissions and ETF expenses will reduce returns. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investing in commodities entail significant risk and is not appropriate for all investors. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Information Relating to SPDR Gold Trust (&#147;GLD&#148;): </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investing involves risk, and you could lose money on an investment in GLD. Please see the GLD prospectus for a detailed discussion of the risks of investing in
GLD shares. The GLD prospectus is available by <U>clicking here</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">GLD shares trade like stocks, are subject to investment risk and will fluctuate in
market value. The value of GLD shares relates directly to the value of the gold held by GLD (less its expenses), and fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the
sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLD does not generate any income, and as GLD regularly sells gold to pay for its ongoing expenses, the amount of gold represented by
each Share will decline over time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;SPDR&#148; is a registered trademark of Standard&nbsp;&amp; Poor&#146;s Financial Services LLC
(&#147;S&amp;P&#148;) and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&amp;P or its affiliates, and S&amp;P and its
affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations that could affect investors&#146; rights may be found in GLD&#146;s prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information: State Street Global Markets, LLC, One Lincoln Street, Boston, MA, 02111&#149; 866.320.4053 &#149; <U>www.spdrgoldshares.com</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IBG-10229 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Exp. Date: 11/30/2014 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SPDR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> GOLD TRUST has filed a registration statement
(including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete
information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request
it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Gold Shares, 30th Floor, Boston, MA 02111. </P>
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