Date: 19th March 2024

Bureau Veritas ref: 24001456

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 random sample count for therecord date of 15th 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:

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 15th
March 2024, these accounts held title to 34,081 London Good
Delivery, large Gold Bars of a purity between 99.50% and 99.99%
and a weight of 13,572,965.277 fine troy ounces of Gold.

Bureau Veritas Commodities UK Ltd
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

Date: 19th March 2024

Bureau Veritas ref: 24001456

For JPMORGAN CHASE BANK N.A. LONDONAs per the records of the Custodian at close of business 15thMarch, 2024 this account held title to 32,257 London Good
Delivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 12,839,064.384 fine troy ounces of Gold.

For JPMORGAN CHASE BANK N.A. NEW YORKAs per the records of the Custodian at close of business 3rd April
2024 this account held title to 1,824 London Good Delivery,large Gold Bars of a purity between 99.50% and 99.99% and aweight of 733,900.893 fine troy ounces of Gold.

Description of Activity:

We performed a statistically random count of 804 bars of gold,
based upon the gold inventory as at 15th March, 2024. The audit
was completed on the 19th March, 2024 at the Custodian’s
premises and we performed certain procedures including but
not limited to the following:
We performed a statistically random count of 80 bars of gold,
based upon the gold inventory as at 3rd April, 2024. The audit
was completed on the 4th April, 2024 at the Custodian’s
premises and we performed certain procedures including but
not limited to the following:•••

Bureau Veritas Commodities UK Ltd
2 Perry RoadWitham
CM8 3TU
UKThe 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, randomly chosengold bars held within the account, were Gross Check
Weighed against the Bank of New York Mellon records (the“Trustee”) and the records of the custodian.

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

Date: 19th March 2024

Bureau Veritas ref: 24001456••

Anomalies:

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 at 15th March, 2024 werereconciled to the records of the Custodian at 19th March,2024 being the last day of the gold count.

Any administrative non-conformities identified within theBank of New York Mellon SPDR® Gold Trust holdings, as at 15th
March 2024, are reported during the audit.

For and on behalf ofBureau Veritas Commodities UK Limited

Eleanor Green

Bureau Veritas Commodities UK Ltd
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