<SEC-DOCUMENT>0001193125-18-222666.txt : 20180720
<SEC-HEADER>0001193125-18-222666.hdr.sgml : 20180720
<ACCEPTANCE-DATETIME>20180720171802
ACCESSION NUMBER:		0001193125-18-222666
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20180720
DATE AS OF CHANGE:		20180720

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			World Gold Trust
		CENTRAL INDEX KEY:			0001618181
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-206640
		FILM NUMBER:		18963099

	BUSINESS ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		(212) 317-3800

	MAIL ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	World Currency Gold Trust
		DATE OF NAME CHANGE:	20160823

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Global Currency Gold Trust
		DATE OF NAME CHANGE:	20140828

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			World Gold Trust
		CENTRAL INDEX KEY:			0001618181
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		(212) 317-3800

	MAIL ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	World Currency Gold Trust
		DATE OF NAME CHANGE:	20160823

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Global Currency Gold Trust
		DATE OF NAME CHANGE:	20140828
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d557270dfwp.htm
<DESCRIPTION>WHY INVESTORS SHOULD BE LOOKING AT GOLD ETFS
<TEXT>
<HTML><HEAD>
<TITLE>Why Investors Should Be Looking at Gold ETFs</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Free Writing Prospectus </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Filed Pursuant To Rule 433 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><FONT
STYLE="white-space:nowrap">Registration&nbsp;No.&nbsp;333-206640</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><FONT STYLE="white-space:nowrap">333-221842</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">July&nbsp;20, 2018 </P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g557270g0720112600805.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman"><B>Why Investors Should Be Looking at Gold ETFs </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By Max Chen </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July&nbsp;19, 2018 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As investors look to the second half of the year and consider the potential impacts of the broader market and investment portfolios, some may look to gold to
diversify and hedge market risks. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the recent webcast (available On Demand for CE Credit), <I><U>5 Keys to Striking Gold in Your Portfolio</U></I>,
Matthew Bartolini, Vice President and Head of SPDR Americas Research at State Street Global Advisors, warned of a number uncertainties that could continue to affect the markets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;The road ahead may be littered with tighter monetary policy, rising interest rates, building inflationary pressures, fragile trade negotiations and
geopolitical <FONT STYLE="white-space:nowrap">flare-ups,&#148;</FONT> Bartolini said. &#147;Simultaneously, and perhaps unluckily, global synchronized growth which was so instrumental in boosting asset prices in the last year is dwindling.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Looking at the global economy, Bartolini warned that economic sentiment remains well below peak levels across all regions, with the Eurozone
deteriorating the most. Meanwhile, the massive U.S. fiscal policy has so far failed to materially change the growth trajectory and corporate profits likely peaked in the first quarter. The overall environment is also being shadowed by elevated macro
risk from a back drop of escalating trade conflicts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Not surprisingly, with very few identifiable catalysts to drive risk assets higher, most
assets have just treaded water in the first half of 2018,&#148; Bartolini said. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Looking to Alternative Assets Like Gold </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given the heightened uncertainty and potential for further risks ahead, investors may look to alternative assets, like gold, to help smooth out swings in a
traditional portfolio of stocks and bonds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Gold prices tend to increase when volatility increases &#150; we have seen that historically and we have
seen this earlier this year,&#148; Juan Carlos Artigas, Director of Investment Research for the World Gold Council, said. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;A more sustained increase
in volatility is likely to bring attention to gold,&#148; he added. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gold has historically helped a portfolio zig while traditional assets zag, providing
investors with an asset that exhibits a lower correlation to stocks and bonds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Gold is known to have relatively low historical correlation to
stocks and other major asset classes,&#148; Artigas said. &#147;However, its effectiveness as diversifier goes a bit further. Gold&#146;s historical correlation to stocks when stocks are rising rapidly has tended to be positive, capturing some of
the upside. However, when stock markets pull back, the historical correlation has tended to turn negative, as the gold price has historically tended to increase.&#148; </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Gold&#146;s Long-Term Return </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Furthermore, George Milling&#150;Stanley, Vice President and Head of Gold Strategy for State Street Global Advisors, also highlighted gold&#146;s long-term
return, which is not significantly lower than equities and equities have a greater degree of risk. Gold also produces attractive long-term, risk-adjusted returns as the precious metal improves an investment portfolio&#146;s Sharpe ratio. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Artigas argued that gold may strengthen ahead as a hedge against a broad market pullback and rising inflationary pressures. The yield curve is very close to
becoming inverted, which has historically been a signal to an eventual recession. Inflation is on the rise, and gold is typically used as an inflation hedge. Meanwhile, net longs are very low, which many <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">buy-and-hold</FONT></FONT> investors often used as buying opportunities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gold may also be entering a period of seasonal
strength. Artigas pointed out that in the second half, especially in September and November, the market usually experiences seasonally strong gold demand in India and China. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Nevertheless, Artigas warned of some headwinds, such as higher interest rates that increase the opportunity cost of investing in <FONT
STYLE="white-space:nowrap">non-yielding</FONT> gold and a strengthening U.S. dollar that has provided resistance to a breakout in gold. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">While the U.S.
dollar strengthens, investors may still capture the potential upside in gold without worrying about an appreciating USD. Milling&#150;Stanley pointed out that investors have been quick to seize the opportunity to add to holdings in&nbsp;the <B>SPDR
Long Dollar Gold Trust (NYSEArca:</B><B></B><B>&nbsp;<U>GLDW</U></B><B>)</B>. The dollar-hedged gold ETF may help investors gain exposure to gold bullion price movements to limit the negative effects of potential market volatility, without worrying
about an appreciating U.S. dollar. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The <B>SPDR Gold Shares (NYSEArca:</B><B></B><B>&nbsp;<U>GLD</U></B><B>)</B>, the largest physically backed
gold-related ETF on the market, has been the <FONT STYLE="white-space:nowrap">go-to</FONT> ETF option for gold exposure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The World Gold Council and State
Street Global Advisors also recently expanded on the gold ETF theme with the launch of a new offering that provides the cheapest exposure along with a low share price to those investors seeking exposure to the yellow precious metal. The <B>SPDR Gold
MiniShares Trust (NYSEArca: </B><B><U>GLDM</U></B><B>)</B> has a 0.18% expense ratio and was initially listed at a <FONT STYLE="white-space:nowrap">per-share</FONT> trading price of 1/100th of an ounce of gold, as represented by the LBMA Gold Price
PM (USD). </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SPDR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>&nbsp;Long Dollar Gold Trust and
SPDR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>&nbsp;Gold MiniShares<SUP STYLE="font-size:85%; vertical-align:top">SM</SUP> Trust (each, a &#147;Fund&#148; and together, the &#147;Funds&#148;) have each filed a registration statement
(including a prospectus) with the Securities and Exchange Commission (&#147;SEC&#148;) for the offerings to which this communication relates. SPDR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Long Dollar Gold Trust has also filed its
prospectus with the National Futures Association. Before you invest, you should read the prospectus in the registration statement and other documents each Fund has filed with the SEC for more complete information about each Fund and these offerings.
You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Funds or any authorized participant will arrange to send you a prospectus if you request it by calling
866.320.4053. </P>
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)110 4444 ?_9

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