Date: 2nd October 2023

Bureau Veritas Reference: - 23003904

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 Ltd to conduct twocounts each year of the gold bullion stock held on behalf of the SPDR® Gold Trust (the “Trust”)
at the vaults of JPMorgan Chase Bank N.A., London Branch and New York Branch (the “Custodian”).
A complete bar count is conducted once per year and coincides with the Trust’s financial year
end at 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 count for the record date asof 30th September, 2023.
In accordance with the agreed procedures, we hereby report the following:
Name of Account:

Bank of New York Mellon – SPDR® Gold Trust

Bullion Account Nos:

5242679, 5242670

Material:

London Good Delivery Gold Bars

Location:

London Vaults of JPMorgan Chase Bank N.A. & New York
Vaults of JPMorgan Chase Bank N.A.

Gold Inventory:

As per the records of the Custodian at close of business 30th
September, 2023 these accounts held title to 37,598 London
Good Delivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 15,005,759.262 fine troy ounces of Gold.

Breakdown of Inventory follows on Page 2:

Bureau Veritas
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- Internal
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T: +44 (0) 1376 536800
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Bureau Veritas Reference: - 23003904

Date: 2nd October 2023

For JPMORGAN CHASE BANK N.A. LONDONAs per the records of the Custodian at close of business 30th
September, 2023 this account held title to 35,774 London Good
Delivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 14,271,858.369 fine troy ounces of Gold.
For JPMORGAN CHASE BANK N.A. NEW YORKAs per the records of the Custodian at close of business 30thSeptember, 2023 this account held title to 1824 London Good
Delivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 733,900.893 fine troy ounces of Gold.

Description of Activity:

We performed a full count of 36,077 bars of gold at JPMORGANCHASE BANK N.A. London, based upon the gold inventory as at
18th August, 2023, between 21st August and 2nd October 2023
at the Custodian’s premises and performed certain procedures
including but not limited to the following:
We performed a full count of 1824 bars of gold at JPMORGANCHASE BANK N.A. New York, based upon the gold inventory as
at 18th August, 2023, between 21st August and 2nd October 2023
at the Custodian’s premises and performed certain procedures
including but not limited to the following:•••

Bureau Veritas
LtdBureau
VeritasCommodities
Group | C2UK- Internal
2 Perry RoadWithamCM8 3TUUKThe 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 gold bars held within theaccount, were Gross Check Weighed against the Bank of

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

Bureau Veritas Reference: - 23003904•Anomalies:

Date: 2nd October 2023

New York Mellon records (the “Trustee”) and the records ofthe custodian.
The records of the Trustee at 18th August, 2023 werereconciled to the records of the Custodian at 2nd October,2023 being the last day of the gold count.

Any administrative non-conformities identified within the Bankof New York Mellon – SPDR® Gold Trust holdings, as at 18th
August, 2023 are reported during the audit.

For and on behalf ofBureau Veritas Commodities LtdBureau Veritas
Ltd
BureauVeritasCommodities
Group | C2UK- Internal
2 Perry Road
Witham
CM8 3TU
UK

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