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 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 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 No:

18984

Material:

London Good Delivery Gold Bars

Location:

London Vaults of HSBC Bank plc

Gold Inventory:

As per the records of the Custodian at close of business 30thSeptember, 2023 this account held title to 32,477 London GoodDelivery, large Gold Bars of a purity between 99.50% and99.99% and a weight of 13,082,927.246 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

Bureau Veritas Reference: - 23003904

Description of Activity:

We performed a full count of 40,620 bars of gold, based upon
the gold inventory as at 30th June, 2023, between 3rd July, 2023
and 2nd October, 2023 at the Custodian’s premises andperformed certain procedures including but not limited to thefollowing:
••

•

••

Anomalies:

Date: 2nd October 2023

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 of
the Custodian.
A minimum of 2.5 % of the gold bars held within theaccount, were Gross Check Weighed against the Bank of
New York Mellon records (the “Trustee”) and the records ofthe 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 at 30th June, 2023 werereconciled to the records of the Custodian at 29thSeptember, 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 30th June,
2023 are reported during the audit.

For and on behalf ofBureau Veritas Commodities Ltd

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 ParkwayBirmingham
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