Bureau Veritas Reference: - 24001456

22 April 2024

SPDR® Gold Trust
C/O World Gold Trust Services, LLC
685 Third Avenue, 27th Floor,
New York, NY 10017,
United States of America
Dear Sirs,
Re: COUNT OF GOLD BULLION
World Gold Trust Services, LLC has engaged Bureau Veritas Commodities UK Ltd to conduct two
counts each year of the gold bullion stock held on behalf of the SPDR® Gold Trust (the “Trust”)
at the vault of HSBC Bank Plc (the “Custodian”) in London. A complete bar count is conducted
once per year and coincides with the Trust’s financial year end on 30th September. The second
count is a random sample count and is conducted at a date which falls within the same financial
year.
It is with pleasure we submit our report to the Trust covering our random sample count for therecord date of 29th March 2024.
In accordance with the agreed procedures, we hereby report the following:
Name of Account:

Bank of New York Mellon – SPDR® Gold Trust

Bullion Account No:

18984

Material:

London Good Delivery Gold Bars

Location:

London Vault of HSBC - London Vault plc

Gold Inventory:

As per the records of the Custodian at close of business 29th
March 2024 this account held title to 30,963 London GoodDelivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 12,469,297.739 fine troy ounces of Gold.

Bureau Veritas Commodities UK Ltd
2 Perry Road
Witham
CM8 3TU

T: +44 (0) 1376 536800
E: CTDMMOpsUK@bureauveritas.com
www.bureauveritas.com

Registered in England
04966988
VAT no. GB 725 4402 54

Bureau Veritas Registered Office
Suite 206, Fort Dunlop
Fort Parkway
Birmingham
B24 9FDAll services are rendered in accordance with Bureau Veritas Commodities Division General Conditions of Service, available on request or athttps://commodities.bureauveritas.com/general-conditions-service

UK

Bureau Veritas Reference: - 24001456

Description of Activity:

We performed a statistically random count of 782 bars of gold,
based upon the gold inventory as on 29th March 2024. The audit
was completed on 2nd April 2024 at the Custodian’s premises
and performed certain procedures including but not limited tothe following:
••

•

•
•

Non-Conformities:

22 April 2024

The gold inventory records of Bank of New York Mellon (the“Trustee”) were reconciled to the records of the Custodian.
Each individual gold bar in the gold count was agreed to therecords of the Custodian as being held in the name of theabove-mentioned account. The bar number, refiner codeand purity of each bar were checked against the records ofthe Custodian.
A minimum of 2.5 % of the statistically random chosen gold
bars held within the account, were Gross Check Weighedagainst the Bank of New York Mellon records (the“Trustee”) and the records of the custodian.
The 2.5 % of bars Gross check weighed were also tested forany potential foreign material inclusions using a Fischer
Sigmascope B.
The records of the Trustee on 29th March 2024 werereconciled to the records of the Custodian at 2nd April 2024
being the last day of the gold count.

There were no administrative non-conformities identified in
respect of the gold bars during the audit.
There were no physical non-conformities identified in respectof the gold bars during the audit.

This audit report reflects our findings at the Custodian’s premises, as at the audit reference
date only and hereby confirm our conformance to the agreed audit procedures.
For and on behalf ofBureau Veritas Commodities UK Ltd.

Eleanor Green
Client account coordinator
Bureau Veritas Commodities UK Ltd
2 Perry RoadWithamCM8 3TU

T: +44 (0) 1376 536800
E: CTDMMOpsUK@bureauveritas.com
www.bureauveritas.com

Registered in England
04966988
VAT no. GB 725 4402 54

Bureau Veritas Registered Office
Suite 206, Fort Dunlop
Fort Parkway
Birmingham
B24 9FDAll services are rendered in accordance with Bureau Veritas Commodities Division General Conditions of Service, available on request or athttps://commodities.bureauveritas.com/general-conditions-service

UKAll services are rendered in accordance with Bureau Veritas Commodities Division General Conditions of Service, available on request or athttps://commodities.bureauveritas.com/general-conditions-service