Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2018 | Aug. 06, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | GLDW | |
Entity Registrant Name | World Gold Trust | |
Entity Central Index Key | 1,618,181 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Smaller Reporting Company | |
SPDR Long Dollar Gold Trust [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 210,000 | |
SPDR Gold Mini Shares Trust [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 8,700,000 |
Combined Statements of Financia
Combined Statements of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 | ||
ASSETS | ||||
Investment in Gold, at fair value | $ 44,201 | $ 14,406 | ||
Gold Delivery Agreement receivable | 117 | 21 | ||
Gold receivable | 6,121 | |||
Total Assets | 50,439 | 14,427 | ||
LIABILITIES | ||||
Accounts payable to Sponsor | 6 | 4 | ||
Gold Delivery Agreement payable | 142 | 50 | ||
Total Liabilities | 148 | 54 | ||
Net Assets | 50,291 | 14,373 | ||
SPDR Long Dollar Gold Trust [Member] | ||||
ASSETS | ||||
Investment in Gold, at fair value | 19,192 | 14,406 | ||
Gold Delivery Agreement receivable | 117 | 21 | ||
Gold receivable | 3,620 | |||
Total Assets | 22,929 | 14,427 | ||
LIABILITIES | ||||
Accounts payable to Sponsor | 5 | 4 | ||
Gold Delivery Agreement payable | 142 | 50 | ||
Total Liabilities | 147 | 54 | ||
Net Assets | $ 22,782 | $ 14,373 | ||
Shares issued | [1] | 190,000 | 120,000 | |
Shares outstanding | 190,000 | 120,000 | ||
Net asset value per Share | $ 119.91 | $ 119.77 | ||
SPDR Gold Mini Shares Trust [Member] | ||||
ASSETS | ||||
Investment in Gold, at fair value | [2] | $ 25,009 | ||
Gold receivable | [2] | 2,501 | ||
Total Assets | [2] | 27,510 | ||
LIABILITIES | ||||
Accounts payable to Sponsor | [2] | 1 | ||
Total Liabilities | [2] | 1 | ||
Net Assets | [2] | $ 27,509 | $ 0 | |
Shares issued | [1],[2] | 2,200,000 | ||
Shares outstanding | [1],[2] | 2,200,000 | ||
Net asset value per Share | $ 12.50 | [2] | $ 12.60 | |
[1] | Authorized share capital is unlimited and the par value of the Shares is $0.00. | |||
[2] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Combined Statements of Financi3
Combined Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 | |
Investment in Gold, at cost | $ 44,639 | $ 13,592 | |
SPDR Long Dollar Gold Trust [Member] | |||
Investment in Gold, at cost | $ 19,263 | $ 13,592 | |
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 | |
SPDR Gold Mini Shares Trust [Member] | |||
Investment in Gold, at cost | [1] | $ 25,376 | |
Common Stock, Par or Stated Value Per Share | $ 0 | ||
Investment in Gold [Member] | |||
Investment in Gold, at cost | $ 44,639 | $ 13,592 | |
Investment in Gold [Member] | SPDR Long Dollar Gold Trust [Member] | |||
Investment in Gold, at cost | 19,263 | $ 13,592 | |
Investment in Gold [Member] | SPDR Gold Mini Shares Trust [Member] | |||
Investment in Gold, at cost | [1] | $ 25,376 | |
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Combined Schedules of Investmen
Combined Schedules of Investments | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2018USD ($)oz | Sep. 30, 2017USD ($)oz | ||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 87.89% | 100.23% | |
Assets in excess of liabilities (Liabilities in excess of other assets), % of Net Assets | 12.11% | (0.23%) | |
Net Assets, % of Net Assets | 100.00% | 100.00% | |
Total Investments, Fair Value | $ 44,201,000 | $ 14,406,000 | |
Assets in excess of liabilities | 6,090,000 | (33,000) | |
Net Assets, Fair Value | $ 50,291,000 | $ 14,373,000 | |
Total Investments, Ounces of gold | oz | 35,300 | 11,200 | |
Total Investments, Cost | $ 44,639,000 | $ 13,592,000 | |
Gold Delivery Agreement [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 0.00% | 0.00% | |
Gold Delivery Agreement, Counter-Party | Merrill Lynch International | Merrill Lynch International | |
Gold Delivery Agreement, Notional Value | $ 19,192,000 | $ 14,406,000 | |
Gold Delivery Agreement, Expiration Date | Jun. 28, 2019 | Jun. 28, 2019 | |
Gold Delivery Agreement, Unrealized Appreciation/(Depreciation) | $ 0 | $ 0 | |
Investment in Gold [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 87.89% | 100.23% | |
Total Investments, Fair Value | $ 44,201,000 | $ 14,406,000 | |
Total Investments, Ounces of gold | oz | 35,300 | 11,200 | |
Total Investments, Cost | $ 44,639,000 | $ 13,592,000 | |
SPDR Long Dollar Gold Trust [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 84.24% | 100.23% | |
Assets in excess of liabilities (Liabilities in excess of other assets), % of Net Assets | 15.76% | (0.23%) | |
Net Assets, % of Net Assets | 100.00% | 100.00% | |
Total Investments, Fair Value | $ 19,192,000 | $ 14,406,000 | |
Assets in excess of liabilities | 3,590,000 | (33,000) | |
Net Assets, Fair Value | $ 22,782,000 | $ 14,373,000 | |
Total Investments, Ounces of gold | oz | 15,300 | 11,200 | |
Total Investments, Cost | $ 19,263,000 | $ 13,592,000 | |
SPDR Long Dollar Gold Trust [Member] | Gold Delivery Agreement [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 0.00% | 0.00% | |
Gold Delivery Agreement, Counter-Party | Merrill Lynch International | Merrill Lynch International | |
Gold Delivery Agreement, Notional Value | $ 19,192,000 | $ 14,406,000 | |
Gold Delivery Agreement, Expiration Date | Jun. 28, 2019 | Jun. 28, 2019 | |
Gold Delivery Agreement, Unrealized Appreciation/(Depreciation) | $ 0 | $ 0 | |
SPDR Long Dollar Gold Trust [Member] | Investment in Gold [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | 84.24% | 100.23% | |
Total Investments, Fair Value | $ 19,192,000 | $ 14,406,000 | |
Total Investments, Ounces of gold | oz | 15,300 | 11,200 | |
Total Investments, Cost | $ 19,263,000 | $ 13,592,000 | |
SPDR Gold Mini Shares Trust [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | [1] | 90.91% | |
Assets in excess of liabilities (Liabilities in excess of other assets), % of Net Assets | [1] | 9.09% | |
Net Assets, % of Net Assets | [1] | 100.00% | |
Total Investments, Fair Value | [1] | $ 25,009,000 | |
Assets in excess of liabilities | [1] | 2,500,000 | |
Net Assets, Fair Value | [1] | 27,509,000 | |
Total Investments, Cost | [1] | $ 25,376,000 | |
SPDR Gold Mini Shares Trust [Member] | Investment in Gold [Member] | |||
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items] | |||
Total Investments, % of Net Assets | [1] | 90.91% | |
Total Investments, Fair Value | [1] | $ 25,009,000 | |
Total Investments, Ounces of gold | oz | [1] | 20,000 | |
Total Investments, Cost | [1] | $ 25,376,000 | |
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Combined Statement of Operation
Combined Statement of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||||
EXPENSES | |||||||
Sponsor fees | $ 15 | $ 22 | $ 45 | $ 35 | |||
Gold Delivery Provider fees | 8 | 11 | 23 | 18 | |||
Total expenses | 23 | 33 | 68 | 53 | |||
Net investment loss | (23) | (33) | (68) | (53) | |||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | |||||||
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 1 | 1 | [1] | 3 | 2 | [1] | |
Net realized gain/(loss) on Gold Delivery Agreement | 939 | (1,227) | [1] | 406 | (1,313) | [1] | |
Net realized gain/(loss) on Gold Delivery Agreement | 55 | 115 | [1] | 284 | 154 | [1] | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,487) | (62) | [1] | (1,252) | 750 | [1] | |
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | (492) | (1,173) | (410) | (407) | |||
Net Income/(Loss) | (515) | (1,206) | (478) | (460) | |||
SPDR Long Dollar Gold Trust [Member] | |||||||
EXPENSES | |||||||
Sponsor fees | 14 | 22 | [1] | 44 | 35 | [1] | |
Gold Delivery Provider fees | 8 | 11 | [1] | 23 | 18 | [1] | |
Total expenses | 22 | 33 | [1] | 67 | 53 | [1] | |
Net investment loss | (22) | (33) | [1] | (67) | (53) | [1] | |
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | |||||||
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 1 | 1 | [1] | 3 | 2 | [1] | |
Net realized gain/(loss) on Gold Delivery Agreement | 939 | (1,227) | [1] | 406 | (1,313) | [1] | |
Net realized gain/(loss) on Gold Delivery Agreement | 55 | 115 | [1] | 284 | 154 | [1] | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,120) | (62) | [1] | (885) | 750 | [1] | |
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | (125) | (1,173) | [1] | (43) | (407) | [1] | |
Net Income/(Loss) | $ (147) | $ (1,206) | [1] | $ (110) | $ (460) | [1] | |
Net income/(loss) per share | $ (0.99) | $ (5.48) | [1] | $ (0.74) | $ (2.20) | [1] | |
Weighted average number of shares (in 000's) | 148 | 220 | [1] | 149 | 209 | [1] | |
SPDR Gold Mini Shares Trust [Member] | |||||||
EXPENSES | |||||||
Sponsor fees | [2] | $ 1 | $ 1 | ||||
Total expenses | [2] | 1 | 1 | ||||
Net investment loss | [2] | (1) | (1) | ||||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | |||||||
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 0 | ||||||
Net realized gain/(loss) from gold distributed for the redemption of shares | 0 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | [2] | (367) | (367) | ||||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | [2] | (367) | (367) | ||||
Net Income/(Loss) | [2] | $ (368) | $ (368) | ||||
Net income/(loss) per share | [2] | $ (0.17) | $ (0.17) | ||||
Weighted average number of shares (in 000's) | [2] | 2,120 | 2,120 | ||||
[1] | Fund commenced operations on January 27, 2017. See Note 1. | ||||||
[2] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Combined Statement of Cash Flow
Combined Statement of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2018 | Jun. 30, 2017 | [1] | Jun. 30, 2018 | Jun. 30, 2017 | Sep. 30, 2017 | ||||
INCREASE/DECREASE IN CASH FROM OPERATIONS: | |||||||||
Cash proceeds received from sales of gold | $ 14 | $ 23 | $ 43 | $ 28 | [1] | ||||
Cash expenses paid | (14) | (23) | (43) | (28) | [1] | ||||
Increase/(Decrease) in cash resulting from operations | 0 | 0 | 0 | 0 | [1] | ||||
Increase/ decrease in cash and cash equivalents period | 0 | 0 | 0 | 0 | [1] | ||||
INCREASE/DECREASE IN CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Cash proceeds from issuance of stock | [1] | 1 | |||||||
Cash paid for repurchase of stock | [1] | (1) | |||||||
Increase/(Decrease) in cash resulting from financing activities | 0 | 0 | 0 | 0 | [1] | ||||
Cash and cash equivalents at beginning of period | 0 | 0 | 0 | 0 | [1] | $ 0 | [1] | ||
Cash and cash equivalents at end of period | 0 | 0 | 0 | 0 | [1] | 0 | |||
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | |||||||||
Value of gold received for creation of shares - net of gold receivable | 27,855 | 32,668 | 26,550 | [1] | |||||
Value of gold distributed for redemption of shares - net of gold payable | (2,393) | ||||||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH OPERATING ACTIVITIES: | |||||||||
Value of Gold Delivery Agreement inflows - net of Gold Delivery Agreement receivable | 2,260 | 1,697 | 5,436 | 3,137 | [1] | ||||
Value of Gold Delivery Agreement outflows - net of Gold Delivery Agreement payable | (1,297) | (2,628) | (5,007) | (4,314) | [1] | ||||
RECONCILIATION OF NET INCOME/(LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||||
Proceeds from sales of gold to pay expenses | 14 | 23 | 43 | 28 | [1] | ||||
Net realized (gain)/loss from investment in gold sold to pay Sponsor fees | (1) | (1) | (3) | (2) | [1] | (3) | |||
Net realized (gain)/loss from Gold Delivery Agreement | (939) | 1,227 | (406) | 1,313 | [1] | 1,833 | |||
Net realized (gain)/loss on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | (55) | (115) | (284) | (154) | [1] | (270) | |||
Net realized (gain)/loss from gold distributed for the redemption of shares | (149) | (486) | |||||||
Net change in unrealized (appreciation)/depreciation on investment in gold | 1,487 | 62 | 1,252 | (750) | [1] | (814) | |||
Increase/(Decrease) in accounts payable to Sponsor | 1 | (1) | 2 | 7 | [1] | ||||
Net income/(loss) | (515) | (1,206) | (478) | (460) | [1] | ||||
Gold paid for Gold Delivery Provider fees | 8 | 11 | 23 | 18 | [1] | ||||
Increase/(Decrease) in cash resulting from operations | 0 | 0 | 0 | 0 | [1] | ||||
SPDR Gold Mini Shares Trust [Member] | |||||||||
INCREASE/DECREASE IN CASH FROM OPERATIONS: | |||||||||
Increase/(Decrease) in cash resulting from operations | [2] | 0 | 0 | ||||||
Increase/ decrease in cash and cash equivalents period | [2] | 0 | 0 | ||||||
INCREASE/DECREASE IN CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Cash and cash equivalents at beginning of period | [2] | 0 | 0 | ||||||
Cash and cash equivalents at end of period | [2] | 0 | 0 | 0 | |||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | |||||||||
Value of gold received for creation of shares - net of gold receivable | [2] | 25,376 | 25,376 | ||||||
RECONCILIATION OF NET INCOME/(LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||||
Net realized (gain)/loss from investment in gold sold to pay Sponsor fees | 0 | ||||||||
Net realized (gain)/loss from gold distributed for the redemption of shares | 0 | ||||||||
Net change in unrealized (appreciation)/depreciation on investment in gold | [2] | 367 | 367 | ||||||
Increase/(Decrease) in accounts payable to Sponsor | [2] | 1 | 1 | ||||||
Net income/(loss) | [2] | (368) | (368) | ||||||
Increase/(Decrease) in cash resulting from operations | [2] | 0 | 0 | ||||||
SPDR Long Dollar Gold Trust [Member] | |||||||||
INCREASE/DECREASE IN CASH FROM OPERATIONS: | |||||||||
Cash proceeds received from sales of gold | 14 | 23 | 43 | 28 | [1] | ||||
Cash expenses paid | (14) | (23) | (43) | (28) | [1] | ||||
Increase/(Decrease) in cash resulting from operations | 0 | 0 | 0 | 0 | [1] | ||||
Increase/ decrease in cash and cash equivalents period | 0 | 0 | 0 | 0 | [1] | ||||
INCREASE/DECREASE IN CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Cash proceeds from issuance of stock | [1] | 1 | |||||||
Cash paid for repurchase of stock | [1] | (1) | |||||||
Increase/(Decrease) in cash resulting from financing activities | 0 | 0 | 0 | 0 | [1] | ||||
Cash and cash equivalents at beginning of period | 0 | 0 | 0 | 0 | [1] | 0 | [1] | ||
Cash and cash equivalents at end of period | 0 | 0 | 0 | 0 | [1] | 0 | |||
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | |||||||||
Value of gold received for creation of shares - net of gold receivable | 2,479 | 7,292 | 26,550 | [1] | |||||
Value of gold distributed for redemption of shares - net of gold payable | (2,393) | ||||||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH OPERATING ACTIVITIES: | |||||||||
Value of Gold Delivery Agreement inflows - net of Gold Delivery Agreement receivable | 2,260 | 1,697 | 5,436 | 3,137 | [1] | ||||
Value of Gold Delivery Agreement outflows - net of Gold Delivery Agreement payable | (1,297) | (2,628) | (5,007) | (4,314) | [1] | ||||
RECONCILIATION OF NET INCOME/(LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||||
Proceeds from sales of gold to pay expenses | 14 | 23 | 43 | 28 | [1] | ||||
Net realized (gain)/loss from investment in gold sold to pay Sponsor fees | (1) | (1) | (3) | (2) | [1] | (3) | |||
Net realized (gain)/loss from Gold Delivery Agreement | (939) | 1,227 | (406) | 1,313 | [1] | 1,833 | |||
Net realized (gain)/loss on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | (55) | (115) | (284) | (154) | [1] | (270) | |||
Net realized (gain)/loss from gold distributed for the redemption of shares | (149) | (486) | |||||||
Net change in unrealized (appreciation)/depreciation on investment in gold | 1,120 | 62 | 885 | (750) | [1] | $ (814) | |||
Increase/(Decrease) in accounts payable to Sponsor | (1) | 1 | 7 | [1] | |||||
Net income/(loss) | (147) | (1,206) | (110) | (460) | [1] | ||||
Gold paid for Gold Delivery Provider fees | 8 | 11 | 23 | 18 | [1] | ||||
Increase/(Decrease) in cash resulting from operations | $ 0 | $ 0 | $ 0 | $ 0 | [1] | ||||
[1] | Fund commenced operations on January 27, 2017. See Note 1. | ||||||||
[2] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Combined Statements of Changes
Combined Statements of Changes in Net Assets - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Sep. 30, 2017 | ||||
Net Assets - Opening Balance | $ 14,373,000 | $ 0 | $ 0 | |||||
Creations | 38,789,000 | 26,550,000 | ||||||
Redemptions | (2,393,000) | (11,840,000) | ||||||
Repurchase of stock | 0 | (1,000) | ||||||
Issuance of stock | 0 | 1,000 | ||||||
Net investment loss | $ (23,000) | $ (33,000) | (68,000) | (53,000) | (77,000) | |||
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 1,000 | 1,000 | [1] | 3,000 | 2,000 | [1] | 3,000 | |
Net realized gain/(loss) from Gold Delivery Agreement | 939,000 | (1,227,000) | [1] | 406,000 | (1,313,000) | [1] | (1,833,000) | |
Net realized gain/(loss) on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | 55,000 | 115,000 | [1] | 284,000 | 154,000 | [1] | 270,000 | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149,000 | 486,000 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,487,000) | (62,000) | [1] | (1,252,000) | 750,000 | [1] | 814,000 | |
Net Assets - Closing Balance | 50,291,000 | 50,291,000 | 14,373,000 | |||||
SPDR Gold Mini Shares Trust [Member] | ||||||||
Net Assets - Opening Balance | [2] | 0 | ||||||
Creations | [2] | 27,877,000 | ||||||
Net investment loss | [2] | (1,000) | (1,000) | |||||
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 0 | |||||||
Net realized gain/(loss) from gold distributed for the redemption of shares | 0 | |||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | [2] | (367,000) | (367,000) | |||||
Net Assets - Closing Balance | [2] | 27,509,000 | 27,509,000 | 0 | ||||
SPDR Long Dollar Gold Trust [Member] | ||||||||
Net Assets - Opening Balance | 14,373,000 | 0 | 0 | |||||
Creations | 10,912,000 | 26,550,000 | ||||||
Redemptions | (2,393,000) | (11,840,000) | ||||||
Repurchase of stock | 0 | (1,000) | ||||||
Issuance of stock | 0 | 1,000 | ||||||
Net investment loss | (22,000) | (33,000) | [1] | (67,000) | (53,000) | [1] | (77,000) | |
Net realized gain/(loss) from investment in gold sold to pay Sponsor fees | 1,000 | 1,000 | [1] | 3,000 | 2,000 | [1] | 3,000 | |
Net realized gain/(loss) from Gold Delivery Agreement | 939,000 | (1,227,000) | [1] | 406,000 | (1,313,000) | [1] | (1,833,000) | |
Net realized gain/(loss) on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | 55,000 | 115,000 | [1] | 284,000 | 154,000 | [1] | 270,000 | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149,000 | 486,000 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,120,000) | $ (62,000) | [1] | (885,000) | $ 750,000 | [1] | 814,000 | |
Net Assets - Closing Balance | $ 22,782,000 | $ 22,782,000 | $ 14,373,000 | |||||
[1] | Fund commenced operations on January 27, 2017. See Note 1. | |||||||
[2] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Organization
Organization | 9 Months Ended |
Jun. 30, 2018 | |
Organization | 1. Organization World Gold Trust (the “Trust”), formerly known as “World Currency Gold Trust,” was organized as a Delaware statutory trust on August 27, 2014 and is governed by the Fourth Amended and Restated Agreement and Declaration of Trust (“Declaration of Trust”), dated as of April 16, 2018, between WGC USA Asset Management Company, LLC (the “Sponsor”) and the Delaware Trust Company (the “Trustee”). The Trust is authorized to issue an unlimited number of shares of beneficial interest (“Shares”). The beneficial interest in the Trust may be divided into one or more series. The Trust has established six separate series of which two are operational at June 30, 2018. All of the series of the Trust are collectively referred to as the “Funds” and individually each a “Series.” The accompanying financial statements relate to the Trust, SPDR ® ® SM year-end BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (“BNYM”), is the Administrator and Transfer Agent of the Funds. BNYM also serves as the custodian of the Funds’ cash, if any. State Street Global Advisors Funds Distributors, LLC is the marketing agent of the Funds. The statements of financial condition and schedules of investments at June 30, 2018, the statements of operations and of cash flows for the three and nine months ended June 30, 2018 and 2017, and the statements of changes in net assets for the nine months ended June 30, 2018 have been prepared on behalf of the Trust and the Funds without audit. In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and nine months ended June 30, 2018 and for all periods presented have been made. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Trust’s Annual Report on Form 10-K Capitalized terms used but not defined herein have the meaning as set forth in the Declaration of Trust. The Trust had no operations with respect to the Funds’ Shares prior to January 27, 2017 other than matters relating to its organization and the registration of the Funds’ Shares under the Securities Act of 1933, as amended. |
SPDR Long Dollar Gold Trust [Member] | |
Organization | 1. Organization World Gold Trust (the “Trust”), formerly known as “World Currency Gold Trust,” was organized as a Delaware statutory trust on August 27, 2014 and is governed by the Fourth Amended and Restated Agreement and Declaration of Trust (“Declaration of Trust”), dated as of April 16, 2018, between WGC USA Asset Management Company, LLC (the “Sponsor”) and the Delaware Trust Company (the “Trustee”). The Trust is authorized to issue an unlimited number of shares of beneficial interest (“Shares”). The beneficial interest in the Trust may be divided into one or more series. The Trust has established six separate series. The accompanying financial statements relate to the series SPDR ® year-end The investment objective of GLDW is to track the performance of the Solactive GLD ® non-U.S. non-U.S. BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (“BNYM”), is the Administrator and Transfer Agent. BNYM also serves as the custodian of GLDW’s cash, if any. HSBC Bank plc (the “Custodian”) is responsible for custody of GLDW’s gold bullion. Merrill Lynch International is the Gold Delivery Provider. State Street Global Advisors Funds Distributors, LLC is the marketing agent. Solactive AG (the “Index Provider”) has licensed the Index to the Sponsor for use with GLDW. The statement of financial condition and schedule of investments at June 30, 2018, the statements of operations and of cash flows for the three and nine months ended June 30, 2018 and 2017, and the statement of changes in net assets for the nine months ended June 30, 2018 have been prepared on behalf of GLDW without audit. In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and nine months ended June 30, 2018 and for all periods presented have been made. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K Capitalized terms used but not defined herein have the meaning as set forth in the Declaration of Trust. The Trust had no operations with respect to GLDW’s Shares prior to January 27, 2017 other than matters relating to its organization, the registration of Shares under the Securities Act of 1933, as amended, and the sale and issuance by GLDW to WGC (US) Holdings, Inc. of 10 Shares for an aggregate purchase price of $1,000. |
SPDR Gold Mini Shares Trust [Member] | |
Organization | 1. Organization World Gold Trust (the “Trust”), formerly known as “World Currency Gold Trust,” was organized as a Delaware statutory trust on August 27, 2014 and is governed by the Fourth Amended and Restated Agreement and Declaration of Trust (“Declaration of Trust”), dated as of April 16, 2018, between WGC USA Asset Management Company, LLC (the “Sponsor”) and the Delaware Trust Company (the “Trustee”). The Trust is authorized to issue an unlimited number of shares of beneficial interest (“Shares”). The beneficial interest in the Trust may be divided into one or more series. The Trust has established six separate series. The accompanying financial statements relate to the series SPDR ® SM year-end The investment objective of GLDM is for the Shares to reflect the performance of the price of gold bullion, less its expenses. GLDM’s only ordinary recurring expense is the Sponsor’s annual fee of 0.18% of its net asset value (“NAV”). The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold. BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (“BNYM”), is the Administrator and Transfer Agent. BNYM also serves as the custodian of GLDM’s cash, if any. ICBC Standard Bank Plc (the “Custodian”) is responsible for custody of GLDM’s gold bullion. State Street Global Advisors Funds Distributors, LLC is the marketing agent. The statement of financial condition and schedule of investment at June 30, 2018, the statements of operations and of cash flows for the three and nine months ended June 30, 2018, and the statement of changes in net assets for the nine months ended June 30, 2018 have been prepared on behalf of GLDM without audit. In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the nine months ended June 30, 2018 and for all periods presented have been made. Capitalized terms used but not defined herein have the meaning as set forth in the Declaration of Trust. The Trust had no operations with respect to GLDM’s Shares prior to June 26, 2018 other than matters relating to its organization and the registration of GLDM’s Shares under the Securities Act of 1933, as amended. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2018 | |
Significant Accounting Policies | 2. Significant Accounting Policies The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Funds and the Trust. 2.1. Basis of Accounting The Funds are investment companies within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore apply the specialized accounting and reporting guidance therein. The Funds are not registered as investment companies under the Investment Company Act of 1940, as amended. These financial statements present the financial condition, results of operations and cash flows of the Funds and the Trust combined. For the periods presented, there were no balances or activity for the Trust apart from those from the Funds when combined, and the footnotes accordingly relate to the Funds, unless stated otherwise. 2.2. Basis of Presentation The financial statements are presented for the Trust, as the SEC registrant, combined with the Funds and for each of GLDW and GLDM individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each Series shall be enforceable only against the assets of that Series and not against the assets of the Trust generally or any other series that the Trust may establish in the future. 2.3. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. 2.4. Solactive GLD ® Pursuant to the terms of the Gold Delivery Agreement, GLDW has entered into a transaction to deliver gold bullion to, or receive gold bullion from, Merrill Lynch International, as Gold Delivery Provider, each Business Day. The amount of gold bullion transferred essentially will be equivalent to GLDW’s profit or loss as if it had exchanged the Reference Currencies comprising the Index (“FX Basket”), in the proportion in which they are reflected in the Index, for USDs in an amount equal to its holdings of gold bullion on such day. In general, if there is a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), GLDW will receive gold bullion. In general, if there is a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), it will deliver gold bullion. In this manner, the amount of gold bullion held will be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD. The Gold Delivery Agreement requires gold bullion ounces, calculated pursuant to formulas contained in the Gold Delivery Agreement, to be delivered to the custody account of GLDW or the Gold Delivery Provider, as applicable. The fee that GLDW pays the Gold Delivery Provider for its services under the Gold Delivery Agreement is accrued daily and reflected in the calculation of the amount of gold bullion to be delivered pursuant to the Gold Delivery Agreement. The realized gain/loss from the Gold Delivery Agreement is disclosed on the Statement of Operations and the Statement of Changes in Net Assets. The realized gain/loss is only shown on the Statement of Financial Condition to the extent not received/paid. The Index is designed to represent the daily performance of a long position in physical gold, as represented by the LBMA Gold Price AM, and a short position in the basket of Reference Currencies with weightings determined by the FX Basket. The Reference Currencies and their respective weightings in the Index are as follows: Euro (EUR/USD) (57.6%), Japanese Yen (USD/JPY) (13.6%), British Pound Sterling (GBP/USD) (11.9%), Canadian Dollar (USD/CAD) (9.1%), Swedish Krona (USD/SEK) (4.2%), and Swiss Franc (USD/CHF) (3.6%). 2.5. Fair Value Measurement U.S. GAAP defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds’ policy is to value their investments at fair value. Various inputs are used in determining the fair value of the Funds’ assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including the Funds’ assumptions (if any) used in determining the fair value of investments. The following table summarizes the Funds’ investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 44,201 $ — $ — Gold Delivery Agreement — — — Total $ 44,201 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — There were no transfers for any of the Funds between Level 1 and other Levels for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017. The Administrator values the gold held by the Funds on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of the Funds, the Administrator values the gold held by the Funds on the basis of the price of an ounce of gold determined by the IBA auction process, which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of the Funds on each day the NYSE Arca is open for regular trading. If no gold price is made on a particular evaluation day, the next most recent gold price is used in the determination of the NAV of the Funds, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. 2.6. Custody of Gold Gold bullion is held by HSBC Bank plc on behalf of GLDW, and by ICBC Standard Bank Plc on behalf of GLDM each individually referred to as the “Custodian.” 2.7. Gold Receivable/Payable Gold receivable/payable represents the quantity of gold covered by contractually binding orders for the creation/redemption of Shares where the gold has not yet been transferred into/out of the Series’ account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold receivable $ 6,121 $ — Jun-30, 2018 Sep-30, (Amounts in 000’s of US$) Gold payable $ — $ — 2.8. Gold Delivery Agreement Receivable Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 2.9. Gold Delivery Agreement Payable Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 2.10. Creations and Redemptions of Shares The Funds create and redeem Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 10,000 GLDW Shares and a block of 100,000 GLDM Shares). The Funds issue Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to the Funds or the distribution by the Funds of the amount of gold and any cash represented by the Creation Units being created or redeemed, the amount of which will be based on the net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. As the Shares of the Funds are redeemable in Creation Units at the option of the Authorized Participants, the Funds have classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,290 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 2,270 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 38,789 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 36,396 $ 14,710 2.11. Income and Expense The Administrator will, at the direction of the Sponsor, sell the Funds’ gold as necessary to pay the Funds’ expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize the Funds’ holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statements of Operations. The Funds’ net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2018 of ($410) is made up of a realized gain of $3 from the sale of gold to pay Sponsor fees, a realized gain of $406 from the Gold Delivery Agreement, a realized gain of $284 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, a realized gain of $149 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($1,252) on investment in gold. The Funds’ net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2017 of ($407) is made up of a realized gain of $2 from the sale of gold to pay Sponsor fees, a realized loss of ($1,313) from the Gold Delivery Agreement, a realized gain of $154 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, and a change in unrealized appreciation of $750 on investment in gold. 2.12. Income Taxes The Funds are classified as “grantor trusts” for U.S. federal income tax purposes. As a result, the Funds are not subject to U.S. federal income tax. Instead, the Funds’ income and expenses “flow through” to the Shareholders, and the Administrator will report the Funds’ proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
SPDR Long Dollar Gold Trust [Member] | |
Significant Accounting Policies | 2. Significant Accounting Policies The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by GLDW. 2.1. Basis of Accounting GLDW is an investment company within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore applies the specialized accounting and reporting guidance therein. It is not registered as an investment company under the Investment Company Act of 1940, as amended. 2.2. Basis of Presentation The financial statements are presented for GLDW individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GLDW shall be enforceable only against its assets and not against the assets of the Trust generally or any other series that the Trust may establish in the future. 2.3. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. 2.4. Solactive GLD ® Pursuant to the terms of the Gold Delivery Agreement, GLDW has entered into a transaction to deliver gold bullion to, or receive gold bullion from, Merrill Lynch International, as Gold Delivery Provider, each Business Day. The amount of gold bullion transferred essentially will be equivalent to GLDW’s profit or loss as if it had exchanged the Reference Currencies comprising the Index (“FX Basket”), in the proportion in which they are reflected in the Index, for USDs in an amount equal to its holdings of gold bullion on such day. In general, if there is a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), GLDW will receive gold bullion. In general, if there is a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), it will deliver gold bullion. In this manner, the amount of gold bullion held will be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD. The Gold Delivery Agreement requires gold bullion ounces, calculated pursuant to formulas contained in the Gold Delivery Agreement, to be delivered to the custody account of GLDW or the Gold Delivery Provider, as applicable. The fee that GLDW pays the Gold Delivery Provider for its services under the Gold Delivery Agreement is accrued daily and reflected in the calculation of the amount of gold bullion to be delivered pursuant to the Gold Delivery Agreement. The realized gain/loss from the Gold Delivery Agreement is disclosed on the Statement of Operations and the Statement of Changes in Net Assets. The realized gain/loss is only shown on the Statement of Financial Condition to the extent not received/paid. The Index is designed to represent the daily performance of a long position in physical gold, as represented by the LBMA Gold Price AM, and a short position in the basket of Reference Currencies with weightings determined by the FX Basket. The Reference Currencies and their respective weightings in the Index are as follows: Euro (EUR/USD) (57.6%), Japanese Yen (USD/JPY) (13.6%), British Pound Sterling (GBP/USD) (11.9%), Canadian Dollar (USD/CAD) (9.1%), Swedish Krona (USD/SEK) (4.2%), and Swiss Franc (USD/CHF) (3.6%). 2.5 Fair Value Measurement U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GLDW’s policy is to value its investments at fair value. Various inputs are used in determining the fair value of GLDW’s assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including a fund’s assumptions (if any) used in determining the fair value of investments. The following table summarizes GLDW’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 19,192 $ — $ — Gold Delivery Agreement — — — Total $ 19,192 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — There were no transfers between Level 1 and other Levels for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017. The Administrator values the gold held by GLDW on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of GLDW, the Administrator values the gold held on the basis of the price of an ounce of gold determined by the IBA 10:30 AM auction process (“LBMA Gold Price AM”), which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of GLDW on each day the NYSE Arca is open for regular trading, generally as of 12:00 PM New York time. If no LBMA Gold Price AM is made on a particular evaluation day or if the LBMA Gold Price PM has not been announced by 12:00 PM New York time on a particular evaluation day, the next most recent LBMA Gold Price AM is used in the determination of the NAV of GLDW, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. 2.6 Custody of Gold Gold bullion is held by HSBC Bank plc (the “Custodian”) on behalf of GLDW. During the nine-month period ended June 30, 2018, no gold was held by a subcustodian. During the fiscal year ended September 30, 2017, no gold was held by a subcustodian. 2.7 Gold Delivery Agreement Receivable and Gold Receivable Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDW’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 Gold Receivable 3,620 — 2.8 Gold Delivery Agreement Payable Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 2.9 Creations and Redemptions of Shares GLDW creates and redeems Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 10,000 Shares). It issues Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to or by the distribution from GLDW in the amount of gold and any cash represented by the Creation Units being created or redeemed. This amount will be based on the combined net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. GLDW commenced trading shares in January 2017. As the Shares are redeemable at the option of the Authorized Participants, GLDW has classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 90 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 70 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 10,912 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 8,519 $ 14,710 2.10 Income and Expense The Administrator will, at the direction of the Sponsor, sell GLDW’s gold as necessary to pay its expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize GLDW’s holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian at the next LBMA Gold Price AM following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statement of Operations. GLDW’s net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2018 of ($43) is made up of a realized gain of $3 from the sale of gold to pay Sponsor fees, a realized gain of $406 from the Gold Delivery Agreement, a realized gain of $284 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, a realized gain of $149 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($885) on investment in gold. GLDW’s net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2017 of ($407) is made up of a realized gain of $2 from the sale of gold to pay Sponsor fees, a realized loss of ($1,313) from the Gold Delivery Agreement, a realized gain of $154 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, and a change in unrealized appreciation of $750 on investment in gold. 2.11. Income Taxes GLDW is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, it is not subject to U.S. federal income tax. Instead, its income and expenses “flow through” to the Shareholders, and the Administrator will report GLDW’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
SPDR Gold Mini Shares Trust [Member] | |
Significant Accounting Policies | 2. Significant Accounting Policies The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by GLDM. 2.1 Basis of Accounting GLDM is an investment company within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore applies the specialized accounting and reporting guidance therein. It is not registered as an investment company under the Investment Company Act of 1940, as amended. 2.2 Basis of Presentation The financial statements are presented for GLDM individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GLDM shall be enforceable only against the assets of GLDM and not against the assets of the Trust generally or any other series that the Trust may establish in the future. 2.3 Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. 2.4 Fair Value Measurement U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GLDM’s policy is to value its investments at fair value. Various inputs are used in determining the fair value of GLDM’s assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including a fund’s assumptions (if any) used in determining the fair value of investments. The following table summarizes GLDM’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 25,009 $ — $ — Total $ 25,009 $ — $ — There were no transfers between Level 1 and other Levels for the nine months ended June 30, 2018. The Administrator values the gold held by GLDM on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of GLDM, the Administrator values the gold held on the basis of the price of an ounce of gold determined by the IBA 3:00 PM auction process (“LBMA Gold Price PM”), which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of GLDM on each day the NYSE Arca is open for regular trading, generally as of 12:00 PM New York time. If no LBMA Gold Price PM is made on a particular evaluation day or if the LBMA Gold Price PM has not been announced by 12:00 PM New York time on a particular evaluation day, the next most recent LBMA Gold Price AM or PM is used in the determination of the NAV of GLDM, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. 2.5 Custody of Gold Gold bullion is held by ICBC Standard Bank Plc on behalf of GLDM. During the nine-month period ended June 30, 2018, no gold was held by a subcustodian. 2.6 Gold Receivable Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold receivable $ 2,501 2.7 Gold Payable Gold payable represents the quantity of gold covered by contractually binding orders for the redemption of Shares where the gold has not yet been transferred out of GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold payable $ — 2.8 Creations and Redemptions of Shares GLDM creates and redeems Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 100,000 Shares). It issues Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to or by the distribution from GLDM in the amount of gold and any cash represented by the Creation Units being created or redeemed. This amount will be based on the combined net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. GLDM commenced trading shares in June 2018. As the Shares are redeemable at the option of the Authorized Participants, GLDM has classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 are as follows: Nine Months Ended Jun-30, (Amounts are in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,200 Redemptions (— ) Net change in number of Shares Issued and Outstanding 2,200 Nine Months Ended Jun-30, (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 27,877 Redemptions (— ) Net change $ 27,877 2.9 Income and Expense The Administrator will, at the direction of the Sponsor, sell GLDM’s gold as necessary to pay its expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize GLDM’s holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian at the LBMA Gold Price PM following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statements of Operations. GLDM’s net realized and change in unrealized gain/(loss) on investment in gold for the nine-month period ended June 30, 2018 of ($367) is made up of a realized gain of $0 from the sale of gold to pay expenses, a realized gain of $0 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($367) on investment in gold. 2.10 Income Taxes GLDM is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, it is not subject to U.S. federal income tax. Instead, its income and expenses “flow through” to the Shareholders, and the Administrator will report GLDM’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
Fund Expenses
Fund Expenses | 9 Months Ended |
Jun. 30, 2018 | |
Fund Expenses | 3. Fund Expenses For GLDW, the only ordinary recurring operating expenses are expected to be the Gold Delivery Provider’s annual fee as well as the Sponsor’s annual fee. For GLDM, the only ordinary recurring operating expense is expected to be the Sponsor’s annual fee. Further detail can be found in the respective Series’ Financial Statements. Expenses, which accrue daily, and are payable by the Funds, will reduce the NAV of the Funds. |
SPDR Long Dollar Gold Trust [Member] | |
Fund Expenses | 4. Fund Expenses GLDW’s only ordinary recurring operating expenses are expected to be the Sponsor’s annual fee of 0.33% of the NAV of GLDW and the Gold Delivery Provider’s annual fee of 0.17% of the NAV of GLDW, each of which accrue daily. The Sponsor’s fee is payable by GLDW monthly in arrears, while the Gold Delivery Provider’s fee is paid daily with gold bullion in-kind, |
SPDR Gold Mini Shares Trust [Member] | |
Fund Expenses | 4. GLDM Expenses GLDM’s only ordinary recurring operating expenses are expected to be the Sponsor’s annual fee of 0.18% of the NAV of GLDM. The Sponsor’s fee is payable monthly in arrears. Expenses payable will reduce the NAV of GLDM. |
Foreign Currency Risk
Foreign Currency Risk | 9 Months Ended |
Jun. 30, 2018 | |
Foreign Currency Risk | 4. Foreign Currency Risk GLDW does not hold foreign currency, but it is exposed to foreign currency risk as a result of its transactions under the Gold Delivery Agreement. Foreign currency exchange rates may fluctuate significantly over short periods of time and can be unpredictably affected by political developments or government intervention. The value of the Reference Currencies included in the FX Basket may be affected by several factors, including: monetary policies of central banks within the relevant foreign countries or markets; global or regional economic, political or financial events; inflation or interest rates of the relevant foreign countries and investor expectations concerning inflation or interest rates; and debt levels and trade deficits of the relevant foreign countries. Currency exchange rates are influenced by the factors identified above and may also be influenced by, among other things: changing supply and demand for a particular currency; monetary policies of governments (including exchange control programs, restrictions on local exchanges or markets and limitations on foreign investment in a country or on investment by residents of a country in other countries); changes in balances of payments and trade; trade restrictions; and currency devaluations and revaluations. Also, governments from time to time intervene in the currency markets, including by regulation, in order to influence rates directly. These events and actions are unpredictable. The resulting volatility in the Reference Currency exchange rates relative to the USD could materially and adversely affect the value of the Shares. |
SPDR Long Dollar Gold Trust [Member] | |
Foreign Currency Risk | 6. Foreign Currency Risk GLDW does not hold foreign currency, but it is exposed to foreign currency risk as a result of its transactions under the Gold Delivery Agreement. Foreign currency exchange rates may fluctuate significantly over short periods of time and can be unpredictably affected by political developments or government intervention. The value of the Reference Currencies included in the FX Basket may be affected by several factors, including: monetary policies of central banks within the relevant foreign countries or markets; global or regional economic, political or financial events; inflation or interest rates of the relevant foreign countries and investor expectations concerning inflation or interest rates; and debt levels and trade deficits of the relevant foreign countries. Currency exchange rates are influenced by the factors identified above and may also be influenced by, among other things: changing supply and demand for a particular currency; monetary policies of governments (including exchange control programs, restrictions on local exchanges or markets and limitations on foreign investment in a country or on investment by residents of a country in other countries); changes in balances of payments and trade; trade restrictions; and currency devaluations and revaluations. Also, governments from time to time intervene in the currency markets, including by regulation, in order to influence rates directly. These events and actions are unpredictable. The resulting volatility in the Reference Currency exchange rates relative to the USD could materially and adversely affect the value of the Shares. |
Counterparty Risk
Counterparty Risk | 9 Months Ended |
Jun. 30, 2018 | |
Counterparty Risk | 5. Counterparty Risk If the Gold Delivery Provider fails to deliver gold pursuant to its obligations under the Gold Delivery Agreement, such failure would have an adverse effect on GLDW in meeting its investment objective. Moreover, to the extent that the Gold Delivery Provider is unable to honor its obligations under the Agreement, such as due to bankruptcy or default under the Agreement or for any other reason, GLDW would need to find a new entity to act in the same capacity as the Gold Delivery Provider. If it could not quickly find a new entity to act in that capacity, it may not be able to meet its investment objective. The transactions under the Gold Delivery Agreement will terminate on June 28, 2019, unless the parties can agree on extension terms. If the parties cannot agree on extension terms and GLDW is unable to find a new entity to act as Gold Delivery Provider, GLDW may not be able to meet its investment objective. |
SPDR Long Dollar Gold Trust [Member] | |
Counterparty Risk | 7. Counterparty Risk If the Gold Delivery Provider fails to deliver gold pursuant to its obligations under the Gold Delivery Agreement, such failure would have an adverse effect on GLDW in meeting its investment objective. Moreover, to the extent that the Gold Delivery Provider is unable to honor its obligations under the Agreement, such as due to bankruptcy or default under the Agreement or for any other reason, GLDW would need to find a new entity to act in the same capacity as the Gold Delivery Provider. If it could not quickly find a new entity to act in that capacity, it may not be able to meet its investment objective. The transactions under the Gold Delivery Agreement will terminate on June 28, 2019, unless the parties can agree on extension terms. If the parties cannot agree on extension terms and GLDW is unable to find a new entity to act as Gold Delivery Provider, GLDW may not be able to meet its investment objective. |
Concentration of Risk
Concentration of Risk | 9 Months Ended |
Jun. 30, 2018 | |
Concentration of Risk | 6. Concentration of Risk The primary business activities for GLDW are the investment in gold bullion, the transactions under the Gold Delivery Agreement, and the issuance and sale of Shares. For GLDM, the primary business activities are the investment in gold bullion and the issuance and sale of Shares. Various factors could affect the price of gold including: (i) global gold supply and demand, which is influenced by such factors as forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions, central bank purchases and sales, and production and cost levels in major gold-producing countries such as China, Australia, South Africa and the United States; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that gold will maintain its long-term value in terms of purchasing power in the future. In the event that the price of gold declines, the Sponsor expects the value of an investment in the Shares of a Series to decline proportionately. Each of these events could have a material effect on the Funds’ financial position and results of operations. |
SPDR Long Dollar Gold Trust [Member] | |
Concentration of Risk | 5. Concentration of Risk GLDW’s primary business activities are the investment in gold bullion, the transactions under the gold delivery agreement, and the issuance and sale of Shares. Various factors could affect the price of gold including: (i) global gold supply and demand, which is influenced by such factors as forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions, central bank purchases and sales, and production and cost levels in major gold-producing countries such as China, Australia, and the United States; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that gold will maintain its long-term value in terms of purchasing power in the future. In the event that the price of gold declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on GLDW’s financial position and results of operations. |
SPDR Gold Mini Shares Trust [Member] | |
Concentration of Risk | 5. Concentration of Risk GLDM’s primary business activities are the investment in gold bullion and the issuance and sale of Shares. Various factors could affect the price of gold including: (i) global gold supply and demand, which is influenced by such factors as forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions, central bank purchases and sales, and production and cost levels in major gold-producing countries such as China, Australia, South Africa and the United States; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that gold will maintain its long-term value in terms of purchasing power in the future. In the event that the price of gold declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on GLDM’s financial position and results of operations. |
Derivative Contract Information
Derivative Contract Information | 9 Months Ended |
Jun. 30, 2018 | |
Derivative Contract Information | 7. Derivative Contract Information For the three and nine months ended June 30, 2018 and 2017, the effect of derivative contracts on GLDW’s Statement of Operations was as follows: Risk exposure derivative type Location of Gain or Loss on Derivatives Recognized in Income Three Months Jun-30, Three Ended Jun-30, Nine Months Ended Jun-30, Nine Months Ended Jun-30, (Amounts in 000’s of US$) Currency Risk Net Realized gain/(loss) on Gold Delivery Agreement $939 $(1,227) $406 $(1,313) The table below summarizes the average daily notional value of derivative contracts outstanding during the period: Nine Months Ended Jun-30, Fiscal Period Ended Sep-30, (Amounts in 000’s of US$) Average notional $ 17,957 $ 22,963 The notional of the contract varies daily based on the amount of gold held at the Custodian. At June 30, 2018, and September 30, 2017, GLDW’s over-the-counter Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition Assets a Liabilities a Derivatives Gold Delivery Agreement $ — $ — a Absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset on the Statement of Financial Condition. At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative assets, which may offset against its OTC derivative liabilities and collateral received from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Financial Instruments Financial Instruments Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative liabilities, which may offset against its OTC derivative assets and collateral pledged from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Liabilities Presented in the Financial Instruments Financial Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
SPDR Long Dollar Gold Trust [Member] | |
Derivative Contract Information | 8. Derivative Contract Information For the three and nine months ended June 30, 2018 and 2017, the effect of derivative contracts on GLDW’s Statement of Operations was as follows: Risk exposure derivative type Location of Gain or Loss on Derivatives Recognized in Income Three Months Jun-30, Three Ended Jun-30, Nine Months Ended Jun-30, Nine Months Ended Jun-30, (Amounts in 000’s of US$) Currency Risk Net Realized gain/(loss) on Gold Delivery Agreement $939 $(1,227) $406 $(1,313) The table below summarizes the average daily notional value of derivative contracts outstanding during the period: Nine Months Ended Jun-30, Fiscal Period Ended Sep-30, (Amounts in 000’s of US$) Average notional $ 17,957 $ 22,963 The notional of the contract varies daily based on the amount of gold held at the Custodian. At June 30, 2018, and September 30, 2017, GLDW’s over-the-counter Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition Assets a Liabilities a Derivatives Gold Delivery Agreement $ — $ — a Absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset on the Statement of Financial Condition. At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative assets, which may offset against its OTC derivative liabilities and collateral received from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Financial Instruments Financial Instruments Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative liabilities, which may offset against its OTC derivative assets and collateral pledged from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Liabilities Presented in the Financial Instruments Financial Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
Indemnification
Indemnification | 9 Months Ended |
Jun. 30, 2018 | |
Indemnification | 8. Indemnification The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith or willful misconduct. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust. The Trustee and each of its officers, affiliates, directors, employees, and agents will be indemnified by the Trust from and against any losses, claims, taxes, damages, reasonable expenses, and liabilities incurred with respect to the creation, operation or termination of the Trust, the execution, delivery or performance of the Declaration of Trust or the transactions contemplated thereby; provided that the indemnified party acted without willful misconduct, bad faith or gross negligence. The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any gold bullion or other assets held in trust under Declaration of Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or willful misconduct. |
SPDR Long Dollar Gold Trust [Member] | |
Indemnification | 9. Indemnification The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith or willful misconduct. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust. The Trustee and each of its officers, affiliates, directors, employees, and agents will be indemnified by the Trust from and against any losses, claims, taxes, damages, reasonable expenses, and liabilities incurred with respect to the creation, operation or termination of the Trust, the execution, delivery or performance of the Declaration of Trust or the transactions contemplated thereby; provided that the indemnified party acted without willful misconduct, bad faith or gross negligence. The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any gold bullion or other assets held in trust under Declaration of Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or willful misconduct. |
SPDR Gold Mini Shares Trust [Member] | |
Indemnification | 6. Indemnification The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith or willful misconduct. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust. The Trustee and each of its officers, affiliates, directors, employees, and agents will be indemnified by the Trust from and against any losses, claims, taxes, damages, reasonable expenses, and liabilities incurred with respect to the creation, operation or termination of the Trust, the execution, delivery or performance of the Declaration of Trust or the transactions contemplated thereby; provided that the indemnified party acted without willful misconduct, bad faith or gross negligence. The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any gold bullion or other assets held in trust under Declaration of Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or willful misconduct. |
Related Parties-Sponsor
Related Parties-Sponsor | 9 Months Ended |
Jun. 30, 2018 | |
SPDR Long Dollar Gold Trust [Member] | |
Related Parties-Sponsor | 3. Related Parties—Sponsor The Sponsor receives an annual fee equal to 0.33% of the NAV of GLDW, calculated on a daily basis. The Sponsor is responsible for the payment of all ordinary fees and expenses of GLDW, including but not limited to the following: fees charged by its administrator, custodian, index provider, marketing agent and trustee; exchange listing fees; typical maintenance and transaction fees of The Depository Trust Company; SEC registration fees; printing and mailing costs; audit fees and expenses; and legal fees not in excess of $100,000 per annum and expenses and applicable license fees. The Sponsor is not, however, required to pay any extraordinary expenses incurred in the ordinary course of GLDW’s business as outlined in the Sponsor’s agreement with the Trust. |
SPDR Gold Mini Shares Trust [Member] | |
Related Parties-Sponsor | 3. Related Parties—Sponsor The Sponsor receives an annual fee equal to 0.18% of the NAV of GLDM, calculated on a daily basis. The Sponsor is responsible for the payment of all of its ordinary fees and expenses, including but not limited to the following: fees charged by GLDM’s administrator, custodian, index provider, marketing agent and trustee; exchange listing fees; typical maintenance and transaction fees of The Depository Trust Company; SEC registration fees; printing and mailing costs; audit fees and expenses; and legal fees not in excess of $100,000 per annum and expenses and applicable license fees. The Sponsor is not, however, required to pay any extraordinary expenses incurred in the ordinary course of GLDM’s business as outlined in the Sponsor’s agreement with the Trust. |
Financial Highlights
Financial Highlights | 9 Months Ended |
Jun. 30, 2018 | |
SPDR Long Dollar Gold Trust [Member] | |
Financial Highlights | 10. Financial Highlights The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and nine-month period ended June 30, 2018 and 2017. The net investment loss and total expense ratios have been annualized. The total return at net asset value is based on the change in net asset value of a Share during the period and the total return at market value is based on the change in market value of a Share on NYSE Arca during the period. An individual investor’s return and ratios may vary based on the timing of capital transactions. Three Months Jun-30, Three Months Jun-30, Nine Months Jun-30, Nine Months Jun-30, Net Asset Value Net asset value per Share, beginning of period $ 120.22 $ 124.07 $ 119.77 $ 118.42 Net investment income/(loss) (0.15 ) (0.15 ) (0.45 ) (0.26 ) Net Realized and Change in Unrealized Gain (Loss) (0.16 ) (5.33 ) 0.59 0.43 Net Income/(Loss) (0.31 ) (5.48 ) 0.14 0.17 Net asset value per Share, end of period $ 119.91 $ 118.59 $ 119.91 $ 118.59 Market value per Share, beginning of period $ 120.92 $ 124.39 $ 118.89 $ 119.53 Market value per Share, end of period $ 120.40 $ 117.43 $ 120.40 $ 117.43 Ratio to average net assets Net Investment loss (1) (0.50 )% (0.50 )% (0.50 )% ( 0.50 )% Gross expenses (1) 0.50 % 0.50 % 0.50 % 0.50 % Net expenses (1) 0.50 % 0.50 % 0.50 % 0.50 % Total Return, at net asset value (2) (0.26 )% ( 4.42 )% 0.12 % 0.14 % (3) Total Return, at market value (2) (0.43 )% (5.60 )% 1.27 % (1.76 )% (3) (1) Percentages are annualized. (2) Percentages are not annualized. (3) Shares began publicly trading on January 30, 2017; therefore, the Total Return, at net asset value and Total Return, at market value are based on the period of January 30, 2017 to June 30, 2017. |
SPDR Gold Mini Shares Trust [Member] | |
Financial Highlights | 7. Financial Highlights The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and nine-month period ended June 30, 2018. The net investment loss and total expense ratios have been annualized. The total return at net asset value is based on the change in net asset value of a Share during the period and the total return at market value is based on the change in market value of a Share on NYSE Arca during the period. An individual investor’s return and ratios may vary based on the timing of capital transactions. Three Months Jun-30, 2018 Nine Months Jun-30, 2018 Net Asset Value Net asset value per Share, beginning of period (1) $ 12.60 $ 12.60 Net investment income/(loss) 0.00 0.00 Net Realized and Change in Unrealized Gain (Loss) (0.10 ) (0.10 ) Net Income/(Loss) (0.10 ) (0.10 ) Net asset value per Share, end of period $ 12.50 $ 12.50 Market value per Share, beginning of period (1) $ 12.59 $ 12.59 Market value per Share, end of period $ 12.53 $ 12.53 Ratio to average net assets Net Investment loss (2) (0.18 )% (0.18 )% Gross expenses (2) 0.18 % 0.18 % Net expenses (2) 0.18 % 0.18 % Total Return, at net asset value (1,3) (0.79 )% (0.79 )% Total Return, at market value (1,3) (0.48 )% (0.48 )% (1) Shares began publicly trading on June 26, 2018; therefore, the Total Return, at net asset value and Total Return, at market value are based on the period of June 26, 2018 to June 30, 2018. (2) Percentages are annualized. (3) Percentages are not annualized. No comparative has been provided as GLDM commenced operations on June 26, 2018. |
Significant Accounting Polici18
Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2018 | |
Basis of Accounting | 2.1. Basis of Accounting The Funds are investment companies within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore apply the specialized accounting and reporting guidance therein. The Funds are not registered as investment companies under the Investment Company Act of 1940, as amended. These financial statements present the financial condition, results of operations and cash flows of the Funds and the Trust combined. For the periods presented, there were no balances or activity for the Trust apart from those from the Funds when combined, and the footnotes accordingly relate to the Funds, unless stated otherwise. |
Basis of Presentation | 2.2. Basis of Presentation The financial statements are presented for the Trust, as the SEC registrant, combined with the Funds and for each of GLDW and GLDM individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each Series shall be enforceable only against the assets of that Series and not against the assets of the Trust generally or any other series that the Trust may establish in the future. |
Cash and Cash Equivalents | 2.3. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. |
Solactive GLD Long USD Gold Index-Gold Delivery Agreement | 2.4. Solactive GLD ® Pursuant to the terms of the Gold Delivery Agreement, GLDW has entered into a transaction to deliver gold bullion to, or receive gold bullion from, Merrill Lynch International, as Gold Delivery Provider, each Business Day. The amount of gold bullion transferred essentially will be equivalent to GLDW’s profit or loss as if it had exchanged the Reference Currencies comprising the Index (“FX Basket”), in the proportion in which they are reflected in the Index, for USDs in an amount equal to its holdings of gold bullion on such day. In general, if there is a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), GLDW will receive gold bullion. In general, if there is a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), it will deliver gold bullion. In this manner, the amount of gold bullion held will be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD. The Gold Delivery Agreement requires gold bullion ounces, calculated pursuant to formulas contained in the Gold Delivery Agreement, to be delivered to the custody account of GLDW or the Gold Delivery Provider, as applicable. The fee that GLDW pays the Gold Delivery Provider for its services under the Gold Delivery Agreement is accrued daily and reflected in the calculation of the amount of gold bullion to be delivered pursuant to the Gold Delivery Agreement. The realized gain/loss from the Gold Delivery Agreement is disclosed on the Statement of Operations and the Statement of Changes in Net Assets. The realized gain/loss is only shown on the Statement of Financial Condition to the extent not received/paid. The Index is designed to represent the daily performance of a long position in physical gold, as represented by the LBMA Gold Price AM, and a short position in the basket of Reference Currencies with weightings determined by the FX Basket. The Reference Currencies and their respective weightings in the Index are as follows: Euro (EUR/USD) (57.6%), Japanese Yen (USD/JPY) (13.6%), British Pound Sterling (GBP/USD) (11.9%), Canadian Dollar (USD/CAD) (9.1%), Swedish Krona (USD/SEK) (4.2%), and Swiss Franc (USD/CHF) (3.6%). |
Fair Value Measurement | 2.5. Fair Value Measurement U.S. GAAP defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds’ policy is to value their investments at fair value. Various inputs are used in determining the fair value of the Funds’ assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including the Funds’ assumptions (if any) used in determining the fair value of investments. The following table summarizes the Funds’ investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 44,201 $ — $ — Gold Delivery Agreement — — — Total $ 44,201 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — There were no transfers for any of the Funds between Level 1 and other Levels for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017. The Administrator values the gold held by the Funds on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of the Funds, the Administrator values the gold held by the Funds on the basis of the price of an ounce of gold determined by the IBA auction process, which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of the Funds on each day the NYSE Arca is open for regular trading. If no gold price is made on a particular evaluation day, the next most recent gold price is used in the determination of the NAV of the Funds, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. |
Custody of Gold | 2.6. Custody of Gold Gold bullion is held by HSBC Bank plc on behalf of GLDW, and by ICBC Standard Bank Plc on behalf of GLDM each individually referred to as the “Custodian.” |
Gold Receivable/Payable | 2.7. Gold Receivable/Payable Gold receivable/payable represents the quantity of gold covered by contractually binding orders for the creation/redemption of Shares where the gold has not yet been transferred into/out of the Series’ account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold receivable $ 6,121 $ — Jun-30, 2018 Sep-30, (Amounts in 000’s of US$) Gold payable $ — $ — |
Gold Delivery Agreement Receivable | 2.8. Gold Delivery Agreement Receivable Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 |
Gold Delivery Agreement Payable | 2.9. Gold Delivery Agreement Payable Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 |
Creations and Redemptions of Shares | 2.10. Creations and Redemptions of Shares The Funds create and redeem Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 10,000 GLDW Shares and a block of 100,000 GLDM Shares). The Funds issue Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to the Funds or the distribution by the Funds of the amount of gold and any cash represented by the Creation Units being created or redeemed, the amount of which will be based on the net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. As the Shares of the Funds are redeemable in Creation Units at the option of the Authorized Participants, the Funds have classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,290 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 2,270 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 38,789 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 36,396 $ 14,710 |
Income and Expense | 2.11. Income and Expense The Administrator will, at the direction of the Sponsor, sell the Funds’ gold as necessary to pay the Funds’ expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize the Funds’ holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statements of Operations. The Funds’ net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2018 of ($410) is made up of a realized gain of $3 from the sale of gold to pay Sponsor fees, a realized gain of $406 from the Gold Delivery Agreement, a realized gain of $284 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, a realized gain of $149 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($1,252) on investment in gold. The Funds’ net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2017 of ($407) is made up of a realized gain of $2 from the sale of gold to pay Sponsor fees, a realized loss of ($1,313) from the Gold Delivery Agreement, a realized gain of $154 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, and a change in unrealized appreciation of $750 on investment in gold. |
Income Taxes | 2.12. Income Taxes The Funds are classified as “grantor trusts” for U.S. federal income tax purposes. As a result, the Funds are not subject to U.S. federal income tax. Instead, the Funds’ income and expenses “flow through” to the Shareholders, and the Administrator will report the Funds’ proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
SPDR Long Dollar Gold Trust [Member] | |
Basis of Accounting | 2.1. Basis of Accounting GLDW is an investment company within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore applies the specialized accounting and reporting guidance therein. It is not registered as an investment company under the Investment Company Act of 1940, as amended. |
Basis of Presentation | 2.2. Basis of Presentation The financial statements are presented for GLDW individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GLDW shall be enforceable only against its assets and not against the assets of the Trust generally or any other series that the Trust may establish in the future. |
Cash and Cash Equivalents | 2.3. Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. |
Solactive GLD Long USD Gold Index-Gold Delivery Agreement | 2.4. Solactive GLD ® Pursuant to the terms of the Gold Delivery Agreement, GLDW has entered into a transaction to deliver gold bullion to, or receive gold bullion from, Merrill Lynch International, as Gold Delivery Provider, each Business Day. The amount of gold bullion transferred essentially will be equivalent to GLDW’s profit or loss as if it had exchanged the Reference Currencies comprising the Index (“FX Basket”), in the proportion in which they are reflected in the Index, for USDs in an amount equal to its holdings of gold bullion on such day. In general, if there is a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), GLDW will receive gold bullion. In general, if there is a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), it will deliver gold bullion. In this manner, the amount of gold bullion held will be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD. The Gold Delivery Agreement requires gold bullion ounces, calculated pursuant to formulas contained in the Gold Delivery Agreement, to be delivered to the custody account of GLDW or the Gold Delivery Provider, as applicable. The fee that GLDW pays the Gold Delivery Provider for its services under the Gold Delivery Agreement is accrued daily and reflected in the calculation of the amount of gold bullion to be delivered pursuant to the Gold Delivery Agreement. The realized gain/loss from the Gold Delivery Agreement is disclosed on the Statement of Operations and the Statement of Changes in Net Assets. The realized gain/loss is only shown on the Statement of Financial Condition to the extent not received/paid. The Index is designed to represent the daily performance of a long position in physical gold, as represented by the LBMA Gold Price AM, and a short position in the basket of Reference Currencies with weightings determined by the FX Basket. The Reference Currencies and their respective weightings in the Index are as follows: Euro (EUR/USD) (57.6%), Japanese Yen (USD/JPY) (13.6%), British Pound Sterling (GBP/USD) (11.9%), Canadian Dollar (USD/CAD) (9.1%), Swedish Krona (USD/SEK) (4.2%), and Swiss Franc (USD/CHF) (3.6%). |
Fair Value Measurement | 2.5 Fair Value Measurement U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GLDW’s policy is to value its investments at fair value. Various inputs are used in determining the fair value of GLDW’s assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including a fund’s assumptions (if any) used in determining the fair value of investments. The following table summarizes GLDW’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 19,192 $ — $ — Gold Delivery Agreement — — — Total $ 19,192 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — There were no transfers between Level 1 and other Levels for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017. The Administrator values the gold held by GLDW on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of GLDW, the Administrator values the gold held on the basis of the price of an ounce of gold determined by the IBA 10:30 AM auction process (“LBMA Gold Price AM”), which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of GLDW on each day the NYSE Arca is open for regular trading, generally as of 12:00 PM New York time. If no LBMA Gold Price AM is made on a particular evaluation day or if the LBMA Gold Price PM has not been announced by 12:00 PM New York time on a particular evaluation day, the next most recent LBMA Gold Price AM is used in the determination of the NAV of GLDW, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. |
Custody of Gold | 2.6 Custody of Gold Gold bullion is held by HSBC Bank plc (the “Custodian”) on behalf of GLDW. During the nine-month period ended June 30, 2018, no gold was held by a subcustodian. During the fiscal year ended September 30, 2017, no gold was held by a subcustodian. |
Gold Delivery Agreement Payable | 2.8 Gold Delivery Agreement Payable Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 |
Creations and Redemptions of Shares | 2.9 Creations and Redemptions of Shares GLDW creates and redeems Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 10,000 Shares). It issues Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to or by the distribution from GLDW in the amount of gold and any cash represented by the Creation Units being created or redeemed. This amount will be based on the combined net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. GLDW commenced trading shares in January 2017. As the Shares are redeemable at the option of the Authorized Participants, GLDW has classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 90 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 70 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 10,912 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 8,519 $ 14,710 |
Income and Expense | 2.10 Income and Expense The Administrator will, at the direction of the Sponsor, sell GLDW’s gold as necessary to pay its expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize GLDW’s holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian at the next LBMA Gold Price AM following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statement of Operations. GLDW’s net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2018 of ($43) is made up of a realized gain of $3 from the sale of gold to pay Sponsor fees, a realized gain of $406 from the Gold Delivery Agreement, a realized gain of $284 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, a realized gain of $149 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($885) on investment in gold. GLDW’s net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement for the nine-month period ended June 30, 2017 of ($407) is made up of a realized gain of $2 from the sale of gold to pay Sponsor fees, a realized loss of ($1,313) from the Gold Delivery Agreement, a realized gain of $154 from gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees, and a change in unrealized appreciation of $750 on investment in gold. |
Income Taxes | 2.11. Income Taxes GLDW is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, it is not subject to U.S. federal income tax. Instead, its income and expenses “flow through” to the Shareholders, and the Administrator will report GLDW’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
Gold Delivery Agreement Receivable and Gold Receivable | 2.7 Gold Delivery Agreement Receivable and Gold Receivable Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDW’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 Gold Receivable 3,620 — |
SPDR Gold Mini Shares Trust [Member] | |
Basis of Accounting | 2.1 Basis of Accounting GLDM is an investment company within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore applies the specialized accounting and reporting guidance therein. It is not registered as an investment company under the Investment Company Act of 1940, as amended. |
Basis of Presentation | 2.2 Basis of Presentation The financial statements are presented for GLDM individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GLDM shall be enforceable only against the assets of GLDM and not against the assets of the Trust generally or any other series that the Trust may establish in the future. |
Cash and Cash Equivalents | 2.3 Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. |
Fair Value Measurement | 2.4 Fair Value Measurement U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GLDM’s policy is to value its investments at fair value. Various inputs are used in determining the fair value of GLDM’s assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset and liability, including a fund’s assumptions (if any) used in determining the fair value of investments. The following table summarizes GLDM’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 25,009 $ — $ — Total $ 25,009 $ — $ — There were no transfers between Level 1 and other Levels for the nine months ended June 30, 2018. The Administrator values the gold held by GLDM on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the net asset value (“NAV”) of GLDM, the Administrator values the gold held on the basis of the price of an ounce of gold determined by the IBA 3:00 PM auction process (“LBMA Gold Price PM”), which is an electronic auction, with the imbalance calculated and the price adjusted in rounds (45 seconds in duration). The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of GLDM on each day the NYSE Arca is open for regular trading, generally as of 12:00 PM New York time. If no LBMA Gold Price PM is made on a particular evaluation day or if the LBMA Gold Price PM has not been announced by 12:00 PM New York time on a particular evaluation day, the next most recent LBMA Gold Price AM or PM is used in the determination of the NAV of GLDM, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. |
Custody of Gold | 2.5 Custody of Gold Gold bullion is held by ICBC Standard Bank Plc on behalf of GLDM. During the nine-month period ended June 30, 2018, no gold was held by a subcustodian. |
Creations and Redemptions of Shares | 2.8 Creations and Redemptions of Shares GLDM creates and redeems Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 100,000 Shares). It issues Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to or by the distribution from GLDM in the amount of gold and any cash represented by the Creation Units being created or redeemed. This amount will be based on the combined net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. GLDM commenced trading shares in June 2018. As the Shares are redeemable at the option of the Authorized Participants, GLDM has classified the Shares as Net Assets. Changes in the Shares for the nine months ended June 30, 2018 are as follows: Nine Months Ended Jun-30, (Amounts are in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,200 Redemptions (— ) Net change in number of Shares Issued and Outstanding 2,200 Nine Months Ended Jun-30, (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 27,877 Redemptions (— ) Net change $ 27,877 |
Income and Expense | 2.9 Income and Expense The Administrator will, at the direction of the Sponsor, sell GLDM’s gold as necessary to pay its expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize GLDM’s holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian at the LBMA Gold Price PM following the sale order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay expenses on the Statements of Operations. GLDM’s net realized and change in unrealized gain/(loss) on investment in gold for the nine-month period ended June 30, 2018 of ($367) is made up of a realized gain of $0 from the sale of gold to pay expenses, a realized gain of $0 from gold distributed for the redemption of Shares, and a change in unrealized depreciation of ($367) on investment in gold. |
Income Taxes | 2.10 Income Taxes GLDM is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, it is not subject to U.S. federal income tax. Instead, its income and expenses “flow through” to the Shareholders, and the Administrator will report GLDM’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2018. There are no open tax years or examinations in progress at period end. |
Gold Receivable | 2.6 Gold Receivable Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold receivable $ 2,501 |
Gold Payable | 2.7 Gold Payable Gold payable represents the quantity of gold covered by contractually binding orders for the redemption of Shares where the gold has not yet been transferred out of GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold payable $ — |
Significant Accounting Polici19
Significant Accounting Policies (Tables) | 9 Months Ended |
Jun. 30, 2018 | |
Summary of Fund's Investments at Fair Value | The following table summarizes the Funds’ investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 44,201 $ — $ — Gold Delivery Agreement — — — Total $ 44,201 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — |
Summary of Gold Receivable / Payable | Gold receivable/payable represents the quantity of gold covered by contractually binding orders for the creation/redemption of Shares where the gold has not yet been transferred into/out of the Series’ account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold receivable $ 6,121 $ — Jun-30, 2018 Sep-30, (Amounts in 000’s of US$) Gold payable $ — $ — |
Gold Delivery Agreement Receivable | Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 |
Gold Delivery Agreement Payable | Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, Sep-30, (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 |
Creations and Redemptions of Shares | Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,290 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 2,270 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 38,789 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 36,396 $ 14,710 |
SPDR Long Dollar Gold Trust [Member] | |
Summary of Fund's Investments at Fair Value | The following table summarizes GLDW’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 19,192 $ — $ — Gold Delivery Agreement — — — Total $ 19,192 $ — $ — (Amounts in 000’s of US$) September 30, 2017 Level 1 Level 2 Level 3 Investment in Gold $ 14,406 $ — $ — Gold Delivery Agreement — — — Total $ 14,406 $ — $ — |
Gold Delivery Agreement Receivable | Gold Delivery Agreement receivable represents the quantity of gold due to be received under the Gold Delivery Agreement. The gold is transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDW’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement receivable $ 117 $ 21 Gold Receivable 3,620 — |
Gold Delivery Agreement Payable | Gold Delivery Agreement payable represents the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold is transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. Jun-30, 2018 Sep-30, 2017 (Amounts in 000’s of US$) Gold Delivery Agreement payable $ 142 $ 50 |
Creations and Redemptions of Shares | Changes in the Shares for the nine months ended June 30, 2018 and fiscal period ended September 30, 2017 are as follows: Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 90 220 Redemptions (20 ) (100 ) Net change in number of Shares Issued and Outstanding 70 120 Nine Months Ended Jun-30, Fiscal Period Sep-30, 2017 (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 10,912 $ 26,550 Redemptions (2,393 ) (11,840 ) Net change $ 8,519 $ 14,710 |
SPDR Gold Mini Shares Trust [Member] | |
Summary of Fund's Investments at Fair Value | The following table summarizes GLDM’s investments at fair value: (Amounts in 000’s of US$) June 30, 2018 Level 1 Level 2 Level 3 Investment in Gold $ 25,009 $ — $ — Total $ 25,009 $ — $ — |
Creations and Redemptions of Shares | Changes in the Shares for the nine months ended June 30, 2018 are as follows: Nine Months Ended Jun-30, (Amounts are in 000’s) Activity in Number of Shares Issued and Outstanding: Creations 2,200 Redemptions (— ) Net change in number of Shares Issued and Outstanding 2,200 Nine Months Ended Jun-30, (Amounts in 000’s of US$) Activity in Value of Shares Issued and Redeemed: Creations $ 27,877 Redemptions (— ) Net change $ 27,877 |
Gold Delivery Agreement Receivable | Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold receivable $ 2,501 |
Gold Delivery Agreement Payable | Gold payable represents the quantity of gold covered by contractually binding orders for the redemption of Shares where the gold has not yet been transferred out of GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date. Jun-30, (Amounts in 000’s of US$) Gold payable $ — |
Derivative Contract Informati20
Derivative Contract Information (Tables) | 9 Months Ended |
Jun. 30, 2018 | |
Effect of Derivative Contracts on the Fund's Statement of Operations | For the three and nine months ended June 30, 2018 and 2017, the effect of derivative contracts on GLDW’s Statement of Operations was as follows: Risk exposure derivative type Location of Gain or Loss on Derivatives Recognized in Income Three Months Jun-30, Three Ended Jun-30, Nine Months Ended Jun-30, Nine Months Ended Jun-30, (Amounts in 000’s of US$) Currency Risk Net Realized gain/(loss) on Gold Delivery Agreement $939 $(1,227) $406 $(1,313) |
Summary of Average Daily Notional Value of Derivative Contracts Outstanding | The table below summarizes the average daily notional value of derivative contracts outstanding during the period: Nine Months Ended Jun-30, Fiscal Period Ended Sep-30, (Amounts in 000’s of US$) Average notional $ 17,957 $ 22,963 |
Fund's OTC Derivative Assets and Liabilities | At June 30, 2018, and September 30, 2017, GLDW’s over-the-counter Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition Assets a Liabilities a Derivatives Gold Delivery Agreement $ — $ — a Absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset on the Statement of Financial Condition. |
Fund's OTC Derivative Assets | At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative assets, which may offset against its OTC derivative liabilities and collateral received from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Financial Instruments Financial Instruments Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
Fund's OTC Derivative Liabilities | At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative liabilities, which may offset against its OTC derivative assets and collateral pledged from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Liabilities Presented in the Financial Instruments Financial Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
SPDR Long Dollar Gold Trust [Member] | |
Effect of Derivative Contracts on the Fund's Statement of Operations | For the three and nine months ended June 30, 2018 and 2017, the effect of derivative contracts on GLDW’s Statement of Operations was as follows: Risk exposure derivative type Location of Gain or Loss on Derivatives Recognized in Income Three Months Jun-30, Three Ended Jun-30, Nine Months Ended Jun-30, Nine Months Ended Jun-30, (Amounts in 000’s of US$) Currency Risk Net Realized gain/(loss) on Gold Delivery Agreement $939 $(1,227) $406 $(1,313) |
Summary of Average Daily Notional Value of Derivative Contracts Outstanding | The table below summarizes the average daily notional value of derivative contracts outstanding during the period: Nine Months Ended Jun-30, Fiscal Period Ended Sep-30, (Amounts in 000’s of US$) Average notional $ 17,957 $ 22,963 |
Fund's OTC Derivative Assets and Liabilities | At June 30, 2018, and September 30, 2017, GLDW’s over-the-counter Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition Assets a Liabilities a Derivatives Gold Delivery Agreement $ — $ — a Absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset on the Statement of Financial Condition. |
Fund's OTC Derivative Assets | At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative assets, which may offset against its OTC derivative liabilities and collateral received from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Financial Instruments Financial Instruments Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
Fund's OTC Derivative Liabilities | At June 30, 2018, and September 30, 2017, GLDW’s OTC derivative liabilities, which may offset against its OTC derivative assets and collateral pledged from the counterparty, are as follows: Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Liabilities Presented in the Financial Instruments Financial Cash Net Counterparty Merrill Lynch International $ — $ — $ — $ — $ — |
Financial Highlights (Tables)
Financial Highlights (Tables) | 9 Months Ended |
Jun. 30, 2018 | |
SPDR Long Dollar Gold Trust [Member] | |
Summary of Financial Highlights | The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and nine-month period ended June 30, 2018 and 2017. The net investment loss and total expense ratios have been annualized. The total return at net asset value is based on the change in net asset value of a Share during the period and the total return at market value is based on the change in market value of a Share on NYSE Arca during the period. An individual investor’s return and ratios may vary based on the timing of capital transactions. Three Months Jun-30, Three Months Jun-30, Nine Months Jun-30, Nine Months Jun-30, Net Asset Value Net asset value per Share, beginning of period $ 120.22 $ 124.07 $ 119.77 $ 118.42 Net investment income/(loss) (0.15 ) (0.15 ) (0.45 ) (0.26 ) Net Realized and Change in Unrealized Gain (Loss) (0.16 ) (5.33 ) 0.59 0.43 Net Income/(Loss) (0.31 ) (5.48 ) 0.14 0.17 Net asset value per Share, end of period $ 119.91 $ 118.59 $ 119.91 $ 118.59 Market value per Share, beginning of period $ 120.92 $ 124.39 $ 118.89 $ 119.53 Market value per Share, end of period $ 120.40 $ 117.43 $ 120.40 $ 117.43 Ratio to average net assets Net Investment loss (1) (0.50 )% (0.50 )% (0.50 )% ( 0.50 )% Gross expenses (1) 0.50 % 0.50 % 0.50 % 0.50 % Net expenses (1) 0.50 % 0.50 % 0.50 % 0.50 % Total Return, at net asset value (2) (0.26 )% ( 4.42 )% 0.12 % 0.14 % (3) Total Return, at market value (2) (0.43 )% (5.60 )% 1.27 % (1.76 )% (3) (1) Percentages are annualized. (2) Percentages are not annualized. (3) Shares began publicly trading on January 30, 2017; therefore, the Total Return, at net asset value and Total Return, at market value are based on the period of January 30, 2017 to June 30, 2017. |
SPDR Gold Mini Shares Trust [Member] | |
Summary of Financial Highlights | The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and nine-month period ended June 30, 2018. The net investment loss and total expense ratios have been annualized. The total return at net asset value is based on the change in net asset value of a Share during the period and the total return at market value is based on the change in market value of a Share on NYSE Arca during the period. An individual investor’s return and ratios may vary based on the timing of capital transactions. Three Months Jun-30, 2018 Nine Months Jun-30, 2018 Net Asset Value Net asset value per Share, beginning of period (1) $ 12.60 $ 12.60 Net investment income/(loss) 0.00 0.00 Net Realized and Change in Unrealized Gain (Loss) (0.10 ) (0.10 ) Net Income/(Loss) (0.10 ) (0.10 ) Net asset value per Share, end of period $ 12.50 $ 12.50 Market value per Share, beginning of period (1) $ 12.59 $ 12.59 Market value per Share, end of period $ 12.53 $ 12.53 Ratio to average net assets Net Investment loss (2) (0.18 )% (0.18 )% Gross expenses (2) 0.18 % 0.18 % Net expenses (2) 0.18 % 0.18 % Total Return, at net asset value (1,3) (0.79 )% (0.79 )% Total Return, at market value (1,3) (0.48 )% (0.48 )% (1) Shares began publicly trading on June 26, 2018; therefore, the Total Return, at net asset value and Total Return, at market value are based on the period of June 26, 2018 to June 30, 2018. (2) Percentages are annualized. (3) Percentages are not annualized. |
Organization - Additional Infor
Organization - Additional Information (Detail) | 1 Months Ended | 9 Months Ended | 12 Months Ended |
Jan. 27, 2017USD ($)shares | Jun. 30, 2018USD ($)Seriesshares | Sep. 30, 2017USD ($)shares | |
Number of established separate series | Series | 6 | ||
Shares issued | shares | 2,290,000 | 220,000 | |
Aggregate purchase price | $ | $ 0 | $ 1,000 | |
SPDR Long Dollar Gold Trust [Member] | |||
Number of established separate series | Series | 6 | ||
Shares issued | shares | 10 | 90,000 | 220,000 |
Aggregate purchase price | $ | $ 1,000 | $ 0 | $ 1,000 |
Percentage of operating expenses annual fee of net asset value | 0.50% | ||
SPDR Long Dollar Gold Trust [Member] | Sponsor [Member] | |||
Percentage of operating expenses annual fee of net asset value | 0.33% | ||
SPDR Gold Mini Shares Trust [Member] | |||
Number of established separate series | Series | 6 | ||
Shares issued | shares | 2,200,000 | ||
SPDR Gold Mini Shares Trust [Member] | Sponsor [Member] | |||
Percentage of operating expenses annual fee of net asset value | 0.18% |
Significant Accounting Polici23
Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)Tshares | Jun. 30, 2017USD ($) | Sep. 30, 2017USD ($)T | ||||
Significant Accounting Policies [Line Items] | ||||||||
Fair value of assets and liabilities, amount transferred between levels | $ 0 | $ 0 | ||||||
Maximum number of business days within which gold is transferred from the Fund's allocated bullion account with the Custodian | 2 days | |||||||
Minimum denomination of shares issued redeemed against gold | shares | 10,000 | |||||||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | $ (492,000) | $ (1,173,000) | $ (410,000) | $ (407,000) | ||||
Net realized gain/(loss) from investment in gold sold to pay expenses | 1,000 | 1,000 | [1] | 3,000 | 2,000 | [1] | 3,000 | |
Net realized gain/(loss) from Gold Delivery Agreement | 939,000 | (1,227,000) | [1] | 406,000 | (1,313,000) | [1] | (1,833,000) | |
Net realized gain/(loss) on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | 55,000 | 115,000 | [1] | 284,000 | 154,000 | [1] | 270,000 | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149,000 | 486,000 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,487,000) | (62,000) | [1] | (1,252,000) | 750,000 | [1] | 814,000 | |
Reserve for uncertain tax positions | 0 | $ 0 | ||||||
Euro [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 57.60% | |||||||
Japanese Yen [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 13.60% | |||||||
British Pound Sterling [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 11.90% | |||||||
Canadian Dollar [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 9.10% | |||||||
Swedish Krona [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 4.20% | |||||||
Swiss Franc [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 3.60% | |||||||
SPDR Long Dollar Gold Trust [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Fair value of assets and liabilities, amount transferred between levels | $ 0 | 0 | ||||||
Maximum number of business days within which gold is transferred from the Fund's allocated bullion account with the Custodian | 2 days | |||||||
Minimum denomination of shares issued redeemed against gold | shares | 10,000 | |||||||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | (125,000) | (1,173,000) | [1] | $ (43,000) | (407,000) | [1] | ||
Net realized gain/(loss) from investment in gold sold to pay expenses | 1,000 | 1,000 | [1] | 3,000 | 2,000 | [1] | 3,000 | |
Net realized gain/(loss) from Gold Delivery Agreement | 939,000 | (1,227,000) | [1] | 406,000 | (1,313,000) | [1] | (1,833,000) | |
Net realized gain/(loss) on gold transferred to cover Gold Delivery Agreement and Gold Delivery Provider fees | 55,000 | 115,000 | [1] | 284,000 | 154,000 | [1] | 270,000 | |
Net realized gain/(loss) from gold distributed for the redemption of shares | 149,000 | 486,000 | ||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | (1,120,000) | $ (62,000) | [1] | (885,000) | $ 750,000 | [1] | $ 814,000 | |
Reserve for uncertain tax positions | 0 | $ 0 | ||||||
Gold held by subcustodian | T | 0 | 0 | ||||||
SPDR Long Dollar Gold Trust [Member] | Euro [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 57.60% | |||||||
SPDR Long Dollar Gold Trust [Member] | Japanese Yen [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 13.60% | |||||||
SPDR Long Dollar Gold Trust [Member] | British Pound Sterling [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 11.90% | |||||||
SPDR Long Dollar Gold Trust [Member] | Canadian Dollar [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 9.10% | |||||||
SPDR Long Dollar Gold Trust [Member] | Swedish Krona [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 4.20% | |||||||
SPDR Long Dollar Gold Trust [Member] | Swiss Franc [Member] | Solactive GLD Long USD Gold Index [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Percentage of currency weightage | 3.60% | |||||||
SPDR Gold Mini Shares Trust [Member] | ||||||||
Significant Accounting Policies [Line Items] | ||||||||
Fair value of assets and liabilities, amount transferred between levels | $ 0 | |||||||
Minimum denomination of shares issued redeemed against gold | shares | 100,000 | |||||||
Net realized and change in unrealized gain/(loss) on investment in gold and Gold Delivery Agreement | [2] | (367,000) | $ (367,000) | |||||
Net realized gain/(loss) from investment in gold sold to pay expenses | 0 | |||||||
Net realized gain/(loss) from gold distributed for the redemption of shares | 0 | |||||||
Net change in unrealized appreciation/(depreciation) on investment in gold | [2] | (367,000) | (367,000) | |||||
Reserve for uncertain tax positions | $ 0 | $ 0 | ||||||
Gold held by subcustodian | T | 0 | |||||||
[1] | Fund commenced operations on January 27, 2017. See Note 1. | |||||||
[2] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Significant Accounting Polici24
Significant Accounting Policies - Summary of Fund's Investments at Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 | |
Investment Holdings [Line Items] | |||
Fund's investments at fair value | $ 44,201 | $ 14,406 | |
SPDR Long Dollar Gold Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 19,192 | 14,406 | |
SPDR Gold Mini Shares Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | [1] | 25,009 | |
Investment in Gold [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 44,201 | 14,406 | |
Investment in Gold [Member] | SPDR Long Dollar Gold Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 19,192 | 14,406 | |
Investment in Gold [Member] | SPDR Gold Mini Shares Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | [1] | 25,009 | |
Fair Value, Inputs, Level 1 [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 44,201 | 14,406 | |
Fair Value, Inputs, Level 1 [Member] | SPDR Long Dollar Gold Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 19,192 | 14,406 | |
Fair Value, Inputs, Level 1 [Member] | SPDR Gold Mini Shares Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 25,009 | ||
Fair Value, Inputs, Level 1 [Member] | Investment in Gold [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 44,201 | 14,406 | |
Fair Value, Inputs, Level 1 [Member] | Investment in Gold [Member] | SPDR Long Dollar Gold Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | 19,192 | $ 14,406 | |
Fair Value, Inputs, Level 1 [Member] | Investment in Gold [Member] | SPDR Gold Mini Shares Trust [Member] | |||
Investment Holdings [Line Items] | |||
Fund's investments at fair value | $ 25,009 | ||
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Significant Accounting Polici25
Significant Accounting Policies - Summary of Gold Receivable / Payable (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 | |
Schedule Of Significant Accounting Policies [Line Items] | |||
Gold receivable | $ 6,121 | ||
Gold payable | 0 | $ 0 | |
SPDR Gold Mini Shares Trust [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Gold receivable | [1] | 2,501 | |
Gold payable | $ 0 | ||
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Significant Accounting Polici26
Significant Accounting Policies - Gold Delivery Agreement Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 |
Gold Delivery Agreement Receivable | ||
Gold Delivery Agreement receivable | $ 117 | $ 21 |
Gold receivable | 6,121 | |
SPDR Long Dollar Gold Trust [Member] | ||
Gold Delivery Agreement Receivable | ||
Gold Delivery Agreement receivable | 117 | $ 21 |
Gold receivable | $ 3,620 |
Significant Accounting Polici27
Significant Accounting Policies - Gold Delivery Agreement Payable (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 |
Gold Delivery Agreement Payable | ||
Gold Delivery Agreement payable | $ 142 | $ 50 |
SPDR Long Dollar Gold Trust [Member] | ||
Gold Delivery Agreement Payable | ||
Gold Delivery Agreement payable | $ 142 | $ 50 |
Significant Accounting Polici28
Significant Accounting Policies - Creations and Redemptions of Shares (Detail) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Jan. 27, 2017 | Jun. 30, 2018 | Sep. 30, 2017 | ||
Activity in Number of Shares Issued and Outstanding: | ||||
Creations | 2,290,000 | 220,000 | ||
Redemptions | (20,000) | (100,000) | ||
Net change in number of Shares Issued and Outstanding | 2,270,000 | 120,000 | ||
Activity in Value of Shares Issued and Redeemed: | ||||
Creations | $ 38,789 | $ 26,550 | ||
Redemptions | (2,393) | (11,840) | ||
Net change | $ 36,396 | $ 14,710 | ||
SPDR Long Dollar Gold Trust [Member] | ||||
Activity in Number of Shares Issued and Outstanding: | ||||
Creations | 10 | 90,000 | 220,000 | |
Redemptions | (20,000) | (100,000) | ||
Net change in number of Shares Issued and Outstanding | 70,000 | 120,000 | ||
Activity in Value of Shares Issued and Redeemed: | ||||
Creations | $ 10,912 | $ 26,550 | ||
Redemptions | (2,393) | (11,840) | ||
Net change | $ 8,519 | $ 14,710 | ||
SPDR Gold Mini Shares Trust [Member] | ||||
Activity in Number of Shares Issued and Outstanding: | ||||
Creations | 2,200,000 | |||
Redemptions | 0 | |||
Net change in number of Shares Issued and Outstanding | 2,200,000 | |||
Activity in Value of Shares Issued and Redeemed: | ||||
Creations | [1] | $ 27,877 | ||
Redemptions | 0 | |||
Net change | $ 27,877 | |||
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |
Counterparty Risk - Additional
Counterparty Risk - Additional Information (Detail) | 9 Months Ended |
Jun. 30, 2018 | |
Risk and uncertainty [Line Items] | |
Gold Delivery Agreement termination period | Jun. 28, 2019 |
SPDR Long Dollar Gold Trust [Member] | |
Risk and uncertainty [Line Items] | |
Gold Delivery Agreement termination period | Jun. 28, 2019 |
Derivative Contract Informati30
Derivative Contract Information - Effect of Derivative Contracts on the Fund's Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Sep. 30, 2017 | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||
Net realized gain/(loss) on Gold Delivery Agreement | $ 939 | $ (1,227) | [1] | $ 406 | $ (1,313) | [1] | $ (1,833) |
SPDR Long Dollar Gold Trust [Member] | |||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||
Net realized gain/(loss) on Gold Delivery Agreement | 939 | (1,227) | [1] | 406 | (1,313) | [1] | $ (1,833) |
Over-the-Counter ("OTC") [Member] | Gold Delivery Agreement [Member] | |||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||
Net realized gain/(loss) on Gold Delivery Agreement | 939 | (1,227) | 406 | (1,313) | |||
Over-the-Counter ("OTC") [Member] | SPDR Long Dollar Gold Trust [Member] | Gold Delivery Agreement [Member] | |||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||
Net realized gain/(loss) on Gold Delivery Agreement | $ 939 | $ (1,227) | $ 406 | $ (1,313) | |||
[1] | Fund commenced operations on January 27, 2017. See Note 1. |
Derivative Contract Informati31
Derivative Contract Information - Summary of Average Daily Notional Value of Derivative Contracts Outstanding (Detail) - Over-the-Counter ("OTC") [Member] - USD ($) | 9 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gold Delivery Agreement Average notional | $ 17,957,000 | $ 22,963,000 |
SPDR Long Dollar Gold Trust [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gold Delivery Agreement Average notional | $ 17,957,000 | $ 22,963,000 |
Derivative Contract Informati32
Derivative Contract Information - Fund's OTC Derivative Assets and Liabilities (Detail) - Over-the-Counter ("OTC") [Member] - Gold Delivery Agreement [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Sep. 30, 2017 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition, Assets | $ 0 | $ 0 |
Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition, Liabilities | 0 | 0 |
SPDR Long Dollar Gold Trust [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition, Assets | 0 | 0 |
Gross Amounts of Assets and Liabilities Presented in the Statement of Financial Condition, Liabilities | $ 0 | $ 0 |
Derivative Contract Informati33
Derivative Contract Information - Fund's OTC Derivative Assets (Detail) - Merrill Lynch International [Member] - Over-the-Counter ("OTC") [Member] - USD ($) | Jun. 30, 2018 | Sep. 30, 2017 |
Offsetting Assets [Line Items] | ||
Gross Amounts of Assets Presented in the Statement of Financial Condition | $ 0 | $ 0 |
Financial Instruments Available for Offset | 0 | 0 |
Financial Instruments Collateral Received | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | 0 | 0 |
SPDR Long Dollar Gold Trust [Member] | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Assets Presented in the Statement of Financial Condition | 0 | 0 |
Financial Instruments Available for Offset | 0 | 0 |
Financial Instruments Collateral Received | 0 | 0 |
Cash Collateral Received | 0 | 0 |
Net Amount | $ 0 | $ 0 |
Derivative Contract Informati34
Derivative Contract Information - Fund's OTC Derivative Liabilities (Detail) - Merrill Lynch International [Member] - Over-the-Counter ("OTC") [Member] - USD ($) | Jun. 30, 2018 | Sep. 30, 2017 |
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Liabilities Presented in the Statement of Financial Condition | $ 0 | $ 0 |
Financial Instruments Available for Offset | 0 | 0 |
Financial Instruments Collateral Pledged | 0 | 0 |
Cash Collateral Pledged | 0 | 0 |
Net Amount | 0 | 0 |
SPDR Long Dollar Gold Trust [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Liabilities Presented in the Statement of Financial Condition | 0 | 0 |
Financial Instruments Available for Offset | 0 | 0 |
Financial Instruments Collateral Pledged | 0 | 0 |
Cash Collateral Pledged | 0 | 0 |
Net Amount | $ 0 | $ 0 |
Related Parties - Sponsor - Add
Related Parties - Sponsor - Additional Information (Detail) | 9 Months Ended |
Jun. 30, 2018USD ($) | |
SPDR Long Dollar Gold Trust [Member] | |
Related Party Transaction [Line Items] | |
Percentage of operating expenses annual fee of net asset value | 0.50% |
SPDR Long Dollar Gold Trust [Member] | Sponsor [Member] | |
Related Party Transaction [Line Items] | |
Percentage of operating expenses annual fee of net asset value | 0.33% |
SPDR Long Dollar Gold Trust [Member] | Maximum [Member] | |
Related Party Transaction [Line Items] | |
Legal fees | $ 100,000 |
SPDR Gold Mini Shares Trust [Member] | Sponsor [Member] | |
Related Party Transaction [Line Items] | |
Percentage of operating expenses annual fee of net asset value | 0.18% |
SPDR Gold Mini Shares Trust [Member] | Maximum [Member] | |
Related Party Transaction [Line Items] | |
Legal fees | $ 100,000 |
Fund Expenses - Additional Info
Fund Expenses - Additional Information (Detail) | 9 Months Ended |
Jun. 30, 2018 | |
SPDR Long Dollar Gold Trust [Member] | |
Percentage of operating expenses annual fee of net asset value | 0.50% |
SPDR Long Dollar Gold Trust [Member] | Sponsor [Member] | |
Percentage of operating expenses annual fee of net asset value | 0.33% |
SPDR Long Dollar Gold Trust [Member] | Gold Delivery Providers [Member] | |
Percentage of operating expenses annual fee of net asset value | 0.17% |
SPDR Gold Mini Shares Trust [Member] | Sponsor [Member] | |
Percentage of operating expenses annual fee of net asset value | 0.18% |
Financial Highlights - Summary
Financial Highlights - Summary of Financial Highlights (Detail) - $ / shares | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
SPDR Long Dollar Gold Trust [Member] | |||||
Net Asset Value | |||||
Net asset value per Share, beginning of period | $ 120.22 | $ 124.07 | $ 119.77 | $ 118.42 | |
Net investment income/(loss) | (0.15) | (0.15) | (0.45) | (0.26) | |
Net Realized and Change in Unrealized Gain (Loss) | (0.16) | (5.33) | 0.59 | 0.43 | |
Net Income/(Loss) | (0.31) | (5.48) | 0.14 | 0.17 | |
Net asset value per Share, end of period | 119.91 | 118.59 | 119.91 | 118.59 | |
Market value per Share, beginning of period | 120.92 | 124.39 | 118.89 | 119.53 | |
Market value per Share, end of period | $ 120.40 | $ 117.43 | $ 120.40 | $ 117.43 | |
Ratio to average net assets | |||||
Net Investment loss | (0.50%) | (0.50%) | (0.50%) | (0.50%) | |
Gross expenses | 0.50% | 0.50% | 0.50% | 0.50% | |
Net expenses | 0.50% | 0.50% | 0.50% | 0.50% | |
Total Return, at net asset value | (0.26%) | (4.42%) | 0.12% | 0.14% | |
Total Return, at market value | (0.43%) | (5.60%) | 1.27% | (1.76%) | |
SPDR Gold Mini Shares Trust [Member] | |||||
Net Asset Value | |||||
Net asset value per Share, beginning of period | $ 12.60 | $ 12.60 | |||
Net investment income/(loss) | 0 | 0 | |||
Net Realized and Change in Unrealized Gain (Loss) | (0.10) | (0.10) | |||
Net Income/(Loss) | (0.10) | (0.10) | |||
Net asset value per Share, end of period | [1] | 12.50 | 12.50 | ||
Market value per Share, beginning of period | 12.59 | 12.59 | |||
Market value per Share, end of period | $ 12.53 | $ 12.53 | |||
Ratio to average net assets | |||||
Net Investment loss | (0.18%) | (0.18%) | |||
Gross expenses | 0.18% | 0.18% | |||
Net expenses | 0.18% | 0.18% | |||
Total Return, at net asset value | (0.79%) | (0.79%) | |||
Total Return, at market value | (0.48%) | (0.48%) | |||
[1] | No comparative has been provided as operations commenced on June 26, 2018. See Note 1. |