Company: FGDL
Filing Date: 2025-08-26
Form Type: POS AM
Source: 0001137439-25-001038
Chunk: 38

Company: Franklin Templeton Holdings Trust
Filing Date: 2025-08-26
Form: POS AM
Chunk 38
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 is not aware of any limit on the amount of recycled gold that may be used in the fabrication of London Good Delivery gold bars refined after January 1, 2012. In addition, the Fund does not separately monitor or limit its holdings in LBMA compliant post-2012 gold sourced from recycled materials. Rather, the Fund relies on the LBMA’s Gold Guidance as the means for determining what constitutes responsibly sourced gold for purposes of the Fund’s investment policies, as described above. The Gold Guidance provides for sourcing identification requirements, country of origin data analysis and other risk-based due diligence measures designed to provide transparency into the ultimate source of the recycled gold. For information, please see “Risk Factors—Risks Related to the Shares—The Fund is subject to responsible sourcing due diligence risk.” Other Sourcing Regulatory Schemes Gold bullion market centers including India, China and the United Arab Emirates have established separate gold certification schemes and sourcing requirements and guidelines for market participants. For example, Dubai Multi-Commodities Centre (DMCC) requires DMCC accredited members globally to implement OECD Due Diligence Guidance. Additionally, the China Chamber of Commerce of Metals, Minerals and Chemicals (“CCCMC”) also promulgates guidelines for sourcing and trading gold bullion by Chinese companies operating domestically and internationally. China is one of the largest producers and importers of gold, and Shanghai is a key physical trading hub for the Asian gold market. The SGE is supervised and regulated by the People’s Bank of China. The SGE accepts gold bullion products from two main sources as Shanghai Good Delivery gold: (1) manufactured by domestic refiners accredited to the SGE; and (1) manufactured by refiners accredited to the LBMA. The BSE, India’s leading exchange group, has also adopted good delivery standards as defined by the Bureau of Indian Standards governing purity, form and provenance of gold bars acceptable for settlement and delivery, including manufacture, trade and delivery requirements. These requirements may be more or less rigorous in certain respects than corresponding LBMA standards. Enforcement may vary, and certain requirements are generally voluntary and there may be little transparency around compliance. As discussed above, the Fund seeks to hold only responsibly sourced gold bullion as defined herein. The Fund does not anticipate holding any gold bullion that does not conform to the LBMA Good Delivery standards, notwithstanding regulatory regimes that may apply in other markets. THE MARKET FOR GOLD As the market for gold and movements in the price of gold are expected to directly affect the price of the Shares,