<SEC-DOCUMENT>0001193125-17-116258.txt : 20170407
<SEC-HEADER>0001193125-17-116258.hdr.sgml : 20170407
<ACCEPTANCE-DATETIME>20170407163858
ACCESSION NUMBER:		0001193125-17-116258
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20170407
DATE AS OF CHANGE:		20170407

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:	333-209926
		FILM NUMBER:		17750230

	BUSINESS ADDRESS:	
		STREET 1:		C/O WORLD GOLD TRUST SERVICES, LLC
		STREET 2:		685 THIRD AVENUE, SUITE 2702
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2123173800

	MAIL ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		SUITE 2702
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	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:		685 THIRD AVENUE, SUITE 2702
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2123173800

	MAIL ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		SUITE 2702
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	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>d371809dfwp.htm
<DESCRIPTION>INVESTMENTNEWS INTERVIEW WITH GEORGE MILLING-STANLEY
<TEXT>
<HTML><HEAD>
<TITLE>InvestmentNews Interview with George Milling-Stanley</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <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. <FONT STYLE="white-space:nowrap">333-209926</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>April&nbsp;7, 2017 </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g371809g0407152413216.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Gold shines in an uncertain bull market</B><B><I> </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>A bit of gold helps on days when unpredictability abounds </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By John Waggoner </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;7, 2017 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gold is only happy when it rains &#151; and if your clients have gold in their portfolio, today would be a good reason to remind them why.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gold pays no dividends and has no earnings. Anyone looking for growth has no business investing in the yellow metal. And despite its reputation as an
inflation-fighter,<U></U>&nbsp;<FONT STYLE="font-family:Times New Roman" COLOR="#ff4338"><U>gold isn&#146;t terribly well correlated to inflation</U></FONT><FONT STYLE="font-family:Times New Roman">, at least as measured by the consumer price index.
In the past decade, gold has soared 90%, versus a 19.7% rise in the CPI. And in the 1980s, when inflation jumped 64%, gold fell 22%.</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">But gold loves
uncertainty, which it got in spades&nbsp;on Friday&nbsp;with the U.S. attack on a Syrian airbase. Gold rose 1.13%&nbsp;Friday&nbsp;in early trading, to $1,267.50 an ounce. Silver, gold&#146;s poorer cousin, gained 0.65%, to $18.36 an ounce.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;It&#146;s not any one thing: It&#146;s protection against the unexpected, whether geopolitical or macroeconomic,&#148; said George Milling-Stanley, head
of gold strategy at<U></U>&nbsp;<FONT STYLE="font-family:Times New Roman" COLOR="#33338b"><U>State Street Global Advisors</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors have poured about $600&nbsp;million into SPDR Gold Shares (GLD) this year, Mr.&nbsp;Milling-Stanley said. The fund invests in the physical metal,
rather than gold mining stocks. &#147;Golds been very, very well received in the investment market,&#148; he said. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Other investments that<U></U>&nbsp;<FONT
STYLE="font-family:Times New Roman" COLOR="#ff4338"><U>thrive on uncertainty</U></FONT><FONT STYLE="font-family:Times New Roman">&nbsp;did well&nbsp;Friday. iPath S&amp;P 500 VIX Short-term Futures ETN (VXX), for example, which follows the <FONT
STYLE="white-space:nowrap">so-called</FONT> &#147;fear index,&#148; gained nearly 3%&nbsp;Friday.</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not surprisingly, aerospace and defense stocks
also did well. iShares Aerospace&nbsp;&amp; Defense (ITA), which had already risen 6.05% this year, tacked on another 0.96%&nbsp;Friday.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All uncertainty
hedges have their drawbacks. Volatility funds have been wretched investments this year: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The iPath offering has fallen 38%. And aerospace and defense
stocks depend on the whims of<U></U>&nbsp;<FONT STYLE="font-family:Times New Roman" COLOR="#ff4338"><U>Congress</U></FONT><FONT STYLE="font-family:Times New Roman">&nbsp;and the budget process. But gold is essentially a direct bet against
civilization: If something like war or currency collapse threatens you, it&#146;s good for gold.</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The standard advice for a gold position is about
5% of your portfolio, a suggestion that Mr.&nbsp;Milling-Stanley agrees with. While gold will rarely outperform stocks, it&#146;s not terribly well correlated with the stock market &#151; and that in itself is one reason to like gold on days
like&nbsp;Friday.</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; 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&nbsp;<U>www.sec.gov</U>. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at&nbsp;<U><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-320-4053</FONT></FONT></FONT></U>&nbsp;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>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g371809g0407152413216.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g371809g0407152413216.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  X , # 2(  A$! Q$!_\0
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M%.3NU?\ 'I\@KK/AK_R4'2_K+_Z*>N3KK/AK_P E!TOZR_\ HIZ5/XT5B_\
M=ZGH_P C?\<^"O$6K>,K^^L=-::VE\O8XE09Q&H/!.>H-<[_ ,*X\6_] =_^
M_P!'_P#%445U2H1;N?.TLWKTX1@DK))=?\P_X5QXM_Z [_\ ?Z/_ .*H_P"%
M<>+?^@.__?Z/_P"*HHI?5XE_VUB.R_'_ ##_ (5QXM_Z [_]_H__ (JC_A7'
MBW_H#O\ ]_H__BJ**/J\0_MK$=E^/^8?\*X\6_\ 0'?_ +_1_P#Q5'_"N/%O
M_0'?_O\ 1_\ Q5%%'U>(?VUB.R_'_,/^%<>+?^@._P#W^C_^*H_X5QXM_P"@
M._\ W^C_ /BJ**/J\0_MK$=E^/\ F'_"N/%O_0'?_O\ 1_\ Q5'_  KCQ;_T
M!W_[_1__ !5%%'U>(?VUB.R_'_,/^%<>+?\ H#O_ -_H_P#XJC_A7'BW_H#O
M_P!_H_\ XJBBCZO$/[:Q'9?C_F'_  KCQ;_T!W_[_1__ !5'_"N/%O\ T!W_
M ._T?_Q5%%'U>(?VUB.R_'_,/^%<>+?^@.__ '^C_P#BJ/\ A7'BW_H#O_W^
MC_\ BJ**/J\0_MK$=E^/^8?\*X\6_P#0'?\ [_1__%4?\*X\6_\ 0'?_ +_1
M_P#Q5%%'U>(?VUB.R_'_ ##_ (5QXM_Z [_]_H__ (JC_A7'BW_H#O\ ]_H_
M_BJ**/J\0_MK$=E^/^8?\*X\6_\ 0'?_ +_1_P#Q5=#X&\%>(M)\9:??7VFM
C#;1>9O<RH<9C8#@'/4BBBG&A%.Y%7-Z]2$H-*S5NO^9__]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
