GL
SPDR Gold SharesGLD
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About SPDR Gold Shares (GLD)
SPDR Gold Shares (GLD) is the world's largest physically-backed gold ETF with over $60 billion in assets. Launched in 2004 by State Street Global Advisors, each share represents approximately 1/10th of an ounce of gold stored in HSBC's London vault. GLD is the most liquid gold ETF with tight bid-ask spreads.
Investing in SPDR Gold Shares
SPDR Gold Shares (GLD) trades on major stock exchanges like any other equity, providing investors with exposure to its underlying assets without the complexities of direct ownership. Key considerations include the expense ratio, tracking accuracy, liquidity, and premium or discount to net asset value (NAV). ETFs offer intraday trading flexibility compared to mutual funds.
Frequently Asked Questions
- What is SPDR Gold Shares (GLD)?
- SPDR Gold Shares (GLD) is the largest and most liquid physically-backed gold ETF in the world, with over $60 billion in assets under management. Launched in November 2004, it holds physical gold bullion in HSBC's vault in London. Each share represents approximately 1/10th of an ounce of gold.
- How does GLD track the gold price?
- GLD holds physical gold bars in HSBC's vault in London. The trust's net asset value (NAV) closely tracks the spot price of gold minus the annual expense ratio of 0.40%. The price per share is approximately 1/10th of an ounce of gold, making it easy to calculate gold exposure.
- What are the fees for investing in GLD?
- GLD has an expense ratio of 0.40% per year. This fee is taken from the trust's gold holdings rather than charged directly to investors, meaning the per-share gold holding gradually decreases over time. For a $10,000 investment, the annual cost is approximately $40.
- How does GLD compare to IAU?
- Both GLD and IAU hold physical gold, but they differ in cost and accessibility. GLD has a higher expense ratio (0.40% vs IAU's 0.25%) but offers significantly higher liquidity and tighter bid-ask spreads. GLD's higher per-share price (1/10th oz vs IAU's 1/100th oz) makes it preferred by institutional traders.