Company: FGDL
Filing Date: 2025-08-26
Form Type: POS AM
Source: 0001137439-25-001038
Chunk: 40

Company: Franklin Templeton Holdings Trust
Filing Date: 2025-08-26
Form: POS AM
Chunk 40
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 | 2,004 |
| Technology/Industrial Demand |     |   335 |   326 |   303 |   330 |   309 |   305 |   326 |
| Net Physical Investment      |     | 1,067 |   844 |   890 | 1,168 | 1,113 |   946 | 1,180 |
| Net Hedging Demand           |     |    12 |    -- |    39 |    23 |    13 |    -- |       |
| Net Official Sector Buying   |     |   656 |   605 |   255 |   454 | 1,082 | 1,051 | 1,045 |
| Total Demand                 |     | 4,360 | 3,927 | 2,811 | 4,204 | 4,712 | 4,493 | 4,555 |
| Market Balance               |     |   427 |   950 | 1,958 |   513 |    53 |   468 |   421 |
| Net Investments in ETPs      |     |    71 |   398 |   888 |   193 |  -110 |  -242 |    -7 |
| Market Balance less ETPs     |     |   356 |   552 | 1,070 |   320 |   163 |   710 |   428 |

SOURCES OF GOLD SUPPLY Based on data from Gold Focus 2022, gold supply averaged 4,767 tonnes per year between 2017 and 2021. Sources of gold supply include both mine
production and recycled above-ground stocks and, to a lesser extent, producer net hedging. The largest portion of gold supplied to the market is from
mine production, which averaged approximately 3,576 tonnes per year from 2017 through 2021. The second largest source of annual gold supply is 22 recycling gold, which is gold that has been recovered from jewelry and other fabricated products and converted back into marketable gold. Recycled gold averaged approximately 1,190 tonnes annually between 2017 through 2021. SOURCES OF GOLD DEMAND Based on data from Gold Focus 2022, gold demand averaged 3,865 tonnes per year between 2017 and 2021. Gold demand generally comes from four sources: jewelry, industry (including medical applications