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UNITEDSTATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549

FORM 10-Q

|        |                                                                                                                                     |
|--------|-------------------------------------------------------------------------------------------------------------------------------------|
|   | Quarterly reportpursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934for the quarterly period ended March 31, 2006 |

|        |                                                                                                                                  |
|--------|----------------------------------------------------------------------------------------------------------------------------------|
|   | Transition report pursuant to Section 13 or15(d) of the Securities Exchange Act of 1934 for the transition periodfrom ____to ___ |

Commission file number: 001-32356

streetTRACKS® GOLD TRUSTSPONSORED BY WORLD GOLDTRUST SERVICES, LLC

(Exact Name ofRegistrant as Specified in Its Charter)

|                                                              |  |                                     |  |  |  |  |
|--------------------------------------------------------------|--|-------------------------------------|--|--|--|--|
| NewYork                                                      |  | 81-6124035                          |
| (State or OtherJurisdiction ofIncorporation or Organization) |  | (I.R.S.Employer Identification No.) |
|                                                              |

c/o World GoldTrust Services, LLC444 Madison Avenue, 3rd FloorNew York, NewYork 10022

(Address of PrincipalExecutive Offices)

(212) 317-3800

(Registrant's Telephone Number,Including Area Code)

N/A

(FormerName, Former Address and Former Fiscal Year, if Changed Since LastReport)

Indicate by check mark whether the registrant:(1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to such filingrequirements for the past 90 days.

Yes              No  

Indicate by check mark whether the registrant is a largeaccelerated filer, an accelerated filer, or a non-accelerated filer.See definition of "accelerated filer and large acceleratedfiler" in Rule 12b-2 of the Exchange Act. (Checkone):

Large acceleratedfiler             Acceleratedfiler            Non-accelerated filer    

As of April 30, 2006 the Registrant had 115,900,000 sharesoutstanding.

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streetTRACKS®GOLDTRUSTINDEX

|                               |  |                                                                                                                                                                                                                                                      |    |        |    |        |  |  |  |  |
|-------------------------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|--------|----|--------|--|--|--|--|
|                          |  |                                                                                                                                                                                                                                                 |    | Page   |
| PARTI - FINANCIAL INFORMATION |  |                                                                                                                                                                                                                                                 | 1  |   |
| Item1.                        |  | FinancialStatements (unaudited)                                                                                                                                                                                                                      |    |   | 1  |   |
|                          |  | Statements of Condition at March 31, 2006 andSeptember 30, 2005                                                                                                                                                                                      |    |   | 1  |   |
|                          |  | Statementsof Operations for the three months ending March 31, 2006 and2005    and the six months ending March 31, 2006 and for theperiod from    November 12, 2004 (Date of Inception) throughMarch 31, 2005 |    |   | 2  |   |
|                          |  | Statements ofCash Flow for the three months ending March 31, 2006 and2005    and the six months ending March 31, 2006 and for theperiod from    November 12, 2004 (Date of Inception) throughMarch 31, 2005  |    |   | 3  |   |
|                          |  | Statementsof Changes in Shareholders' Deficit for the six months ended    March 31, 2006 and for the period from November 12,2004 (Date ofInception) through September 30,2005                                              |    |   | 4  |   |
|                          |  | Notes to theUnaudited Financial Statements                                                                                                                                                                                                           |    |   | 5  |   |
| Item2.                        |  | Management's Discussion and Analysis of FinancialCondition and     Results ofOperations                                                                                                                                          |    |   | 11 |   |
| Item 3.                       |  | Quantitative and QualitativeDisclosures About Market Risk                                                                                                                                                                                  |    |   | 16 |   |
| Item 4.                       |  | Controls andProcedures                                                                                                                                                                                                                               |    |   | 16 |   |
| PART II -OTHER INFORMATION    |  |                                                                                                                                                                                                                                                 | 17 |   |
| Item1.                        |  | Legal Proceedings                                                                                                                                                                                                                                    |    |   | 17 |   |
| Item 2.                       |  | Unregistered Sales of EquitySecurities and Use of Proceeds                                                                                                                                                                                           |    |   | 17 |   |
| Item 3.                       |  | Defaults Upon SeniorSecurities                                                                                                                                                                                                                       |    |   | 17 |   |
| Item4.                        |  | Submission of Matters to a Vote of SecurityHolders                                                                                                                                                                                                   |    |   | 17 |   |
| Item 5.                       |  | OtherInformation                                                                                                                                                                                                                                     |    |   | 17 |   |
| Item6.                        |  | Exhibits and Reports on Form8-K                                                                                                                                                                                                                 |    |   | 17 |   |
| SIGNATURES                    |  |                                                                                                                                                                                                                                                 | 18 |   |
|                               |

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streetTRACKS®GOLD TRUST

PART I - FINANCIALINFORMATION:

Item 1.    Financial Statements(Unaudited)

Unaudited Statements of Condition

at March 31, 2006 and September 30,2005

|                                                                                                                                                                           |  |              |            |             |  |        |           |         |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--------------|------------|-------------|--|--------|-----------|---------|--|--|
| (Amountsin 000's of US$)                                                                                                                                                  |  | March31,2006 |            | Sep-30,2005 |
| ASSETS                                                                                                                                                                    |  |         |       |        |  |   |      |    |
| Investmentin Gold (market value $6,508,444 and $3,156,223 atMarch 31, 2006and September 30, 2005,respectively)                                                            |  | $            | 5,319,422  |        |  | $      | 2,910,613 |    |
| TotalAssets                                                                                                                                                               |  | $            | 5,319,422  |        |  | $      | 2,910,613 |    |
| LIABILITIES                                                                                                                                                               |  |         |       |        |  |   |      |    |
| Accountspayable to relatedparties                                                                                                                                         |  | $            | 1,967      |        |  | $      | 539       |    |
| Accountspayable                                                                                                                                                           |  |         | 81         |        |  |   | 243       |    |
| Accruedexpenses                                                                                                                                                           |  |         | —    |        |  |   | 334       |    |
| TotalLiabilities                                                                                                                                                          |  |         | 2,048      |        |  |   | 1,116     |    |
| CommitmentsandContingencies                                                                                                                                               |  |         | —    |        |  |   | —   |    |
| RedeemableShares:                                                                                                                                                         |  |         |       |        |  |   |      |    |
| Shares at redemption value toinvestors(issued and outstanding at March 31, 2006 -112,400,000 and at September 30, 2005 - 66,900,000; unlimitedauthorized; $0.00 parvalue) |  |         | 6,506,396  |        |  |   | 3,155,107 |    |
| Shareholders'Deficit                                                                                                                                                      |  |         | (1,189,022 | )      |  |   | (245,610  | )  |
|                                                                                                                                                                      |  |         |       |        |  |   |      |    |
| TotalLiabilities, Redeemable Shares & Shareholders'Deficit                                                                                                            |  | $            | 5,319,422  |        |  | $      | 2,910,613 |    |
|                                                                                                                                                                           |

Seenotes to the financial statements

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streetTRACKS®GOLD TRUST

Unaudited Statements ofOperations

For the three months ending March 31, 2006 and2005, and the six months ending March 31, 2006 and for the period fromNovember 12, 2004 (Date of Inception) through March 31,2005

|                                                              |  |                             |         |                             |  |                           |         |                                   |  |        |         |         |  |        |         |         |  |  |
|--------------------------------------------------------------|--|-----------------------------|---------|-----------------------------|--|---------------------------|---------|-----------------------------------|--|--------|---------|---------|--|--------|---------|---------|--|--|
| (Amountsin 000's of US$, except for share and per sharedata) |  | ThreeMonthsEndedMar-31,2006 |         | ThreeMonthsEndedMar-31,2005 |  | SixMonthsEndedMar-31,2006 |         | November12,2004throughMar-31,2005 |
| REVENUES                                                     |  |                        |    |                        |  |                      |    |                              |  |   |    |    |  |   |    |    |
| Proceedsfrom sales ofgold                                    |  | $                           | 5,058   |                        |  | $                         | 1,631   |                              |  | $      | 8,275   |    |  | $      | 1,726   |    |
| Costof gold sold to payexpenses                              |  |                        | (4,239  | )                      |  |                      | (1,676  | )                            |  |   | (7,209  | )  |  |   | (1,770  | )  |
| Gain/(Loss)on gold sold to payexpenses                       |  |                        | 819     |                        |  |                      | (45     | )                            |  |   | 1,066   |    |  |   | (44     | )  |
| Gain/(Loss)on gold distributed for the redemption ofshares   |  |                        | 8,064   |                        |  |                      | (284    | )                            |  |   | 8,064   |    |  |   | 2,425   |    |
| Diminutionin value of investment ingold                      |  |                        | — |                        |  |                      | (30,399 | )                            |  |   | — |    |  |   | (50,696 | )  |
| TotalGain/(Loss) ongold                                      |  | $                           | 8,883   |                        |  | $                         | (30,728 | )                            |  | $      | 9,130   |    |  | $      | (48,315 | )  |
| EXPENSES                                                     |  |                        |    |                        |  |                      |    |                              |  |   |    |    |  |   |    |    |
| Custodyfees                                                  |  | $                           | 1,435   |                        |  | $                         | 509     |                              |  | $      | 2,309   |    |  | $      | 653     |    |
| Trusteefees                                                  |  |                        | 287     |                        |  |                      | 123     |                              |  |   | 461     |    |  |   | 182     |    |
| Sponsorfees                                                  |  |                        | 1,801   |                        |  |                      | 622     |                              |  |   | 2,932   |    |  |   | 786     |    |
| Marketingagentfees                                           |  |                        | 1,801   |                        |  |                      | 622     |                              |  |   | 2,932   |    |  |   | 786     |    |
| Otherexpenses                                                |  |                        | 407     |                        |  |                      | 163     |                              |  |   | 574     |    |  |   | 241     |    |
| Totalexpenses                                                |  |                        | 5,731   |                        |  |                      | 2,039   |                              |  |   | 9,208   |    |  |   | 2,648   |    |
| NetGain/(Loss)                                               |  | $                           | 3,152   |                        |  | $                         | (32,767 | )                            |  | $      | (78     | )  |  | $      | (50,963 | )  |
| Gain/(Loss)pershare                                          |  | $                           | 0.03    |                        |  | $                         | (0.67   | )                            |  | $      | 0.00    |    |  | $      | (1.21   | )  |
| Weightedaverage number ofshares                              |  |                        | 105,748 |                        |  |                      | 48,618  |                              |  |   | 88,369  |    |  |   | 42,219  |    |
|                                                              |

Seenotes to the financial statements

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streetTRACKS®GOLD TRUST

Unaudited Statements of CashFlow

For the three months ending March 31, 2006 and 2005,and the six months ending March 31, 2006 and for the period fromNovember 12, 2004 (Date of Inception) through March 31,2005

|                                                                    |  |                             |           |                             |  |                           |         |                                   |  |        |           |         |  |        |           |         |  |  |
|--------------------------------------------------------------------|--|-----------------------------|-----------|-----------------------------|--|---------------------------|---------|-----------------------------------|--|--------|-----------|---------|--|--------|-----------|---------|--|--|
| (Amountsin 000's of US$)                                           |  | ThreeMonthsEndedMar-31,2006 |           | ThreeMonthsEndedMar-31,2005 |  | SixMonthsEndedMar-31,2006 |         | November12,2004throughMar-31,2005 |
| INCREASE/ DECREASE IN CASH FROMOPERATIONS:                         |  |                        |      |                        |  |                      |    |                              |  |   |      |    |  |   |      |    |
| Cashproceeds received from sales ofgold                            |  | $                           | 5,058     |                        |  | $                         | 1,631   |                              |  | $      | 8,275     |    |  | $      | 1,726     |    |
| Cashexpensespaid                                                   |  |                        | (5,058    | )                      |  |                      | (1,631  | )                            |  |   | (8,275    | )  |  |   | (1,726    | )  |
| (Decrease)/ Increase in cash resulting fromoperations              |  |                        | —   |                        |  |                      | — |                              |  |   | —   |    |  |   | —   |    |
| Cashand cash equivalents at beginning ofperiod                     |  |                        | —   |                        |  |                      | — |                              |  |   | —   |    |  |   | —   |    |
| Cashand cash equivalents at end ofperiod                           |  | $                           | —   |                        |  | $                         | — |                              |  | $      | —   |    |  | $      | —   |    |
| SUPPLEMENTALDISCLOSURE OF NON-CASH FINANCINGACTIVITIES:            |  |                        |      |                        |  |                      |    |                              |  |   |      |    |  |   |      |    |
| Valueof gold received for creation ofshares                        |  | $                           | 1,565,891 |                        |  | $                         | 977,309 |                              |  | $      | 2,463,333 |    |  | $      | 2,578,643 |    |
| Valueof gold distributed for redemption of shares - at averagecost |  | $                           | 47,315    |                        |  | $                         | 26,211  |                              |  | $      | 47,315    |    |  | $      | 284,457   |    |
|                                                                    |

Seenotes to the financial statements

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streetTRACKS®GOLD TRUST

Unaudited Statements of Changes inShareholders' Deficit

For the six months endedMarch 31, 2006 and for the period from November 12, 2004 (Date ofInception) through September 30,2005

|                                                   |  |                            |            |                               |  |        |          |         |  |  |
|---------------------------------------------------|--|----------------------------|------------|-------------------------------|--|--------|----------|---------|--|--|
| (Amountsin 000's of US$)                          |  | SixMonthsEndedMar-31, 2006 |            | Nov-12,2004throughSep-30,2005 |
| Shareholders' Deficit - OpeningBalance            |  | $                          | (245,610   | )                        |  | $      | —  |    |
| Net Lossfor theperiod                             |  |                       | (78        | )                        |  |   | (5,965   | )  |
| Adjustment ofRedeemable Shares to redemptionvalue |  |                       | (943,334   | )                        |  |   | (239,645 | )  |
| Shareholders'Deficit - Closingbalance             |  | $                          | (1,189,022 | )                        |  | $      | (245,610 | )  |
|                                                   |

Seenotes to the financialstatements

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

1.    Organization

The streetTRACKS® Gold Trust (the"Trust") is an investment trust formed onNovember 12, 2004 (Date of Inception), under New York law pursuant to atrust indenture. The fiscal year end for the Trust is September 30th.The Trust holds gold and is expected from time to time to issue shares("Shares") (in minimum denominations of100,000, also referred to as "Baskets") inexchange for deposits of gold and to distribute gold in connection withredemption of Baskets. The investment objective of the Trust is for theShares to reflect the performance of the price of gold bullion, lessthe Trust's expenses.

The statement of condition at March31, 2006 and September 30, 2005 and the statement of changes inshareholders' deficit for the six months ended March 31, 2006 andfor the period from November 12, 2004 (Date of Inception) throughSeptember 30, 2005 and the statements of operations and cash flow forthe three months ending March  31, 2006 and 2005 and the sixmonths ended March 31, 2006 and for the period from November 12, 2004(Date of Inception) through March 31, 2005 have been prepared on behalfof the Trust without audit. In the opinion of management of the sponsorof the Trust, World Gold Trust Services, LLC (the"Sponsor"), all adjustments (which includenormal recurring adjustments) necessary to present fairly the financialposition, results of operations and cash flow at March  31, 2006and for all periods presented have been made.

Certaininformation and footnote disclosures normally included in financialstatements prepared in accordance with accounting principles generallyaccepted in the United States of America have been condensed oromitted. It is suggested that these condensed financial statements beread in conjunction with the financial statements and notes theretoincluded in the Trust's Annual Report on Form 10-K for the fiscalyear ended September 30, 2005. The results of operations for the sixmonths ended March 31, 2006 are not necessarily indicative of theoperating results for the fullyear.

2.    Significantaccounting policies

The preparation of financial statements inaccordance with accounting principles generally accepted in the UnitedStates requires those responsible for preparing financial statements tomake estimates and assumptions that affect the reported amounts anddisclosures. Actual results could differ from those estimates. Thefollowing is a summary of significant accounting policies followed bythe Trust.

2.1.    Valuation of Gold

Gold acquired,or disposed of, by the Trust is recorded at average cost. Gold isvalued at the lower of cost or market.

The table belowsummarizes the impact of unrealized gains or losses on theTrust's gold holdings as of March 31, 2006 and September 30,2005:

|                                     |  |             |           |             |  |        |           |        |  |  |
|-------------------------------------|--|-------------|-----------|-------------|--|--------|-----------|--------|--|--|
| (Amountsin 000's ofUS$)             |  | Mar-31,2006 |           | Sep-30,2005 |
| Investmentin gold - averagecost     |  | $           | 5,319,422 |        |  | $      | 2,910,613 |   |
| Unrealizedgain on investment ingold |  |        | 1,189,022 |        |  |   | 245,610   |   |
| Investmentin gold - marketvalue     |  | $           | 6,508,444 |        |  | $      | 3,156,223 |   |
|                                     |

TheTrust recognizes the diminution in value of the investment in goldwhich arises from market declines on an interim basis. Increases in thevalue of the same investment in gold in later interim periods of thesame fiscal year through market price recoveries are recognized in thelater interim period. Increases in value recognized on an interim basisdo not exceed the previously recognized diminution in value.

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

2.    Significantaccounting policies   (continued)

2.2    Gold receivable

Goldreceivable represents the quantity of gold covered by contractuallybinding orders for the creation of shares where the gold has not yetbeen transferred to the Trust's account. Generally, ownership ofthe gold is transferred within three days of tradedate.

2.3    Creations and Redemptions of Shares

TheTrust will create and redeem Shares from time to time, but only in oneor more Baskets (a Basket equals a block of 100,000 Shares). Thecreation and redemption of Baskets will only be made in exchange forthe delivery to the Trust or the distribution by the Trust of theamount of gold and any cash represented by the Baskets being created orredeemed, the amount of which will be based on the combined net assetvalue of the number of Shares included in the Baskets being created orredeemed determined on the day the order to create or redeem Baskets isproperly received.

As the Shares of the Trust are redeemable atthe option of the Authorized Participants only in Baskets, the Trusthas classified the Shares as Redeemable Shares on the Statement ofFinancial Condition. The Trust records the redemption value, whichrepresents its maximum obligation, as Redeemable Shares with thedifference from cost as an offsetting amount to Shareholders'Equity. Changes in the shares for the six months ended March 31, 2006and for the period from November 12, 2004 (Date of Inception) throughSeptember 30, 2005, are as follows:

|                             |  |             |         |             |  |        |        |         |  |  |
|-----------------------------|--|-------------|---------|-------------|--|--------|--------|---------|--|--|
| (Allamounts are in 000's)   |  | Mar-31,2006 |         | Sep-30,2005 |
| Numberof Redeemable Shares: |  |        |    |        |  |   |   |    |
| OpeningBalance              |  |        | 66,900  |        |  |   | 300    |    |
| Creations                   |  |        | 46,500  |        |  |   | 74,700 |    |
| Redemptions                 |  |        | (1,000  | )      |  |   | (8,100 | )  |
| ClosingBalance              |  |        | 112,400 |        |  |   | 66,900 |    |
|                             |

|                                                                                                                                                                                                     |  |             |           |              |  |        |           |         |  |  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-------------|-----------|--------------|--|--------|-----------|---------|--|--|
| (Amountsin 000's of US$)                                                                                                                                                                            |  | Mar-31,2006 |           | Sep-30, 2005 |
| Redeemableshares:                                                                                                                                                                                   |  |        |      |         |  |   |      |    |
| OpeningBalance                                                                                                                                                                                      |  | $           | 3,155,107 |         |  | $      | 13,081    |    |
| Creations (Number of sharescreated during the six month period ended March 31, 2006 - 46,500,000,and the period from November  12, 2004 (Date of Inception)through September 30, 2005 - 74,700,000) |  |        | 2,463,333 |         |  |   | 3,262,774 |    |
| Redemptions(Number of shares redeemed during the six month period endedMarch 31, 2006 - 1,000,000, and the period from November 12, 2004 (Dateof Inception) through September 30, 2005 -8,100,000)  |  |        | (55,378   | )       |  |   | (360,393  | )  |
| Adjustment toredemption value                                                                                                                                                                       |  |        | 943,334   |         |  |   | 239,645   |    |
| ClosingBalance                                                                                                                                                                                      |  | $           | 6,506,396 |         |  | $      | 3,155,107 |    |
|                                                                                                                                                                                                     |

2.4    RevenueRecognition Policy

The Trustee will at the direction of theSponsor or in its own discretion sell the Trust's gold asnecessary to pay the Trust's expenses. When selling gold to payexpenses, the Trustee will endeavor to sell the smallest amounts ofgold needed to pay expenses in order to minimize the Trust'sholdings of assets other than gold. Unless otherwise directed by theSponsor, when selling gold the Trustee will endeavor to sell at theprice established by the London PM Fix. The Trustee will place orderswith dealers (which may include the Custodian) through which theTrustee expects to receive the most 

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

2.    Significantaccounting policies   (continued)

favorable price and execution of orders. TheCustodian may be the purchaser of such gold only if the saletransaction is made at the next London gold price fix (either AM or PM)following the sale order.

2.5    Income Taxes

TheTrust is classified as a "grantor trust" forUS federal income tax purposes. As a result, the Trust itself will notbe subject to US federal income tax. Instead, the Trust's incomeand expenses will "flow through" to theShareholders, and the Trustee will report the Trust's proceeds,income, deductions, gains, and losses to the Internal Revenue Serviceon that basis.

3    Investment inGold

The following represents the changes in ounces of gold andthe respective values for the six months ended March 31, 2006 and forthe period from November 12, 2004 (Date of Inception) through September30,2005:

|                                                                  |  |              |           |             |  |        |           |         |  |  |
|------------------------------------------------------------------|--|--------------|-----------|-------------|--|--------|-----------|---------|--|--|
| (Ouncesof gold are in 000's and value of gold is in 000's ofUS$) |  | Mar-31, 2006 |           | Sep-30,2005 |
| Ounces ofGold:                                                   |  |         |      |        |  |   |      |    |
| OpeningBalance                                                   |  |         | 6,669.3   |        |  |   | 30.0      |    |
| Creations                                                        |  |         | 4,629.0   |        |  |   | 7,464.2   |    |
| Redemptions                                                      |  |         | (99.5     | )      |  |   | (809.4    | )  |
| Sales ofgold                                                     |  |         | (15.9     | )      |  |   | (15.5     | )  |
| ClosingBalance                                                   |  |         | 11,182.9  |        |  |   | 6,669.3   |    |
| Investment in Gold (lowerof cost or market):                     |  |         |      |        |  |   |      |    |
| OpeningBalance                                                   |  | $            | 2,910,613 |        |  | $      | 13,081    |    |
| Creations                                                        |  |         | 2,463,333 |        |  |   | 3,262,774 |    |
| Redemptions                                                      |  |         | (47,315   | )      |  |   | (356,714  | )  |
| Sales of gold                                                    |  |         | (7,209    | )      |  |   | (6,737    | )  |
| Diminution in value of investment ingold                         |  |         | —   |        |  |   | (1,791    | )  |
| ClosingBalance                                                   |  | $            | 5,319,422 |        |  | $      | 2,910,613 |    |
|                                                                  |

4    RelatedParties - Sponsor, Trustee, Custodian and Marketing Agent Fees

Fees are paid to the Sponsor as compensation for services performedunder the Trust Indenture and for services performed in connection withmaintaining the Trust's website and marketing the Shares. TheSponsor's fee is payable monthly in arrears and is accrued dailyat an annual rate equal to 0.15% of the adjusted net asset value("ANAV") of the Trust, subject to reductionas described below. The Sponsor will receive reimbursement from theTrust for all of its disbursements and expenses incurred in connectionwith the Trust.

Fees are paid to the Trustee as compensation forservices performed under the Trust Indenture. The Trustee's feeis payable monthly in arrears and is accrued daily at an annual rateequal to 0.02% of the ANAV of the Trust, subject to a minimumfee of $500,000 and a maximum fee of $2 million per year. TheTrustee's fee is subject to modification as determined by theTrustee and the Sponsor in good faith to account for significantchanges in the Trust's administration or the Trustee'sduties. The Trustee will charge the Trust for its expenses anddisbursements incurred in connection with the Trust (including theexpenses of the Custodian paid by the Trustee), exclusive of fees ofagents for services to be performed by the Trustee, and for anyextraordinary services performed by the Trustee for the Trust.

Affiliates of the Trustee may from time to time act as AuthorizedParticipants or purchase or sell gold or Shares for their own account,as agent for their customers and for accounts over which they exerciseinvestment discretion.

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

4    RelatedParties - Sponsor, Trustee, Custodian and Marketing Agent Fees   (continued)

Fees are paid to the Custodian under theAllocated Bullion Account Agreement as compensation for its custodyservices. Under the Allocated Bullion Account Agreement, the Custodianis currently entitled to a fee that is accrued daily at an annual rateequal to 0.10% of the average daily aggregate value of the goldheld in the Trust Allocated Account and the Trust Unallocated Account,payable monthly in arrears. Effective April 1, 2006, theCustodian's fee is computed at an annual rate equal to0.10% of the average daily aggregate value of the first 4.5million ounces of gold held in the Trust Allocated Account and theTrust Unallocated Account and 0.06% of the average dailyaggregate value of all gold held in the Trust Allocated Account and theTrust Unallocated Account in excess of 4.5 million ounces. TheCustodian does not receive a fee under the Unallocated Bullion AccountAgreement.

The Custodian and its affiliates may from time to timeact as Authorized Participants or purchase or sell gold or Shares fortheir own account, as agent for their customers and for accounts overwhich they exercise investment discretion.

Fees are paid to themarketing agent for the Trust, State Street Global Markets, LLC (the"Marketing Agent") by the Trustee from theassets of the Trust as compensation for services performed pursuant tothe agreement between the Sponsor and the Marketing Agent (the"Marketing Agent Agreement"). The MarketingAgent's fee is payable monthly in arrears and is accrued daily atan annual rate equal to 0.15% of the ANAV of the Trust, subjectto reduction as described below.

The Marketing Agent and itsaffiliates may from time to time act as Authorized Participants orpurchase or sell gold or Shares for their own account, as agent fortheir customers and for accounts over which they exercise investmentdiscretion.

For seven years from the date of the Trust Indentureor until the earlier termination of the Marketing Agent Agreement, ifat the end of any month during this period the estimated ordinaryexpenses of the Trust exceed an amount equal to 0.40% per yearof the daily ANAV of the Trust for such month, the fees payable to theSponsor and the Marketing Agent from the assets of the Trust for suchmonth will be reduced by the amount of such excess in equal shares upto the amount of their fees. Investors should be aware that if thegross value of the Trust's assets is less than approximately $388million, the ordinary expenses of the Trust will be accrued at a rategreater than 0.40% per year of the daily ANAV of the Trust, evenafter the Sponsor and the Marketing Agent have completely reduced theircombined fees of 0.30% per year of the daily ANAV of the Trust.This amount is based on the estimated ordinary expenses of the Trustdescribed in "Business of the Trust—TrustExpenses" and may be higher if the Trust's actualordinary expenses exceed those estimates. Additionally, if the Trustincurs unforeseen expenses that cause the total ordinary expenses ofthe Trust to exceed 0.70% per year of the daily ANAV of theTrust, the ordinary expenses will accrue at a rate greater than0.40% per year of the daily ANAV of the Trust, even after theSponsor and the Marketing Agent have completely reduced their combinedfees of 0.30% per year of the daily ANAV of the Trust.

Upon the end of the seven year period or the earlier termination ofthe Marketing Agent Agreement, the fee reduction will expire and theestimated ordinary expenses of the Trust which are payable from theassets of the Trust each month may be more than they would have beenduring the period when the fee reduction is in effect, thus reducingthe NAV of the Trust more rapidly than if the fee reduction was ineffect and adversely affecting the value of the Shares.

For thesix months ended March 31, 2006 the fees payable to the Sponsor and theMarketing Agent from the assets of the Trust were reduced by $521,374respectively. For the period from November 12, 2004 (Date of Inception)through March 31, 2005 the comparable reduction in fees was$207,283.

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

4    RelatedParties - Sponsor, Trustee, Custodian and Marketing Agent Fees   (continued)

Amounts Payable to Related parties andother accounts payable

|                                   |  |             |        |             |  |        |      |         |  |  |
|-----------------------------------|--|-------------|--------|-------------|--|--------|------|---------|--|--|
| (Amountsin 000's of US$)          |  | Mar-31,2006 |        | Sep-30,2005 |
| Payable to Custodian              |  | $           | (537   | )      |  | $      | (243 | )  |
| Payable toTrustee                 |  |        | (106   | )      |  |   | (48  | )  |
| Payable toSponsor                 |  |        | (662   | )      |  |   | (124 | )  |
| Payable toMarketingAgent          |  |        | (662   | )      |  |   | (124 | )  |
| AccountsPayable to relatedparties |  | $           | (1,967 | )      |  | $      | (539 | )  |
|                                   |

5    Concentrationof Risk

As defined by Statement of Position No. 94-6,Disclosure of Certain Significant Risks and Uncertainties, theTrust's sole business activity is the investment in gold.Several factors could affect the price of gold: (i.) global gold supplyand demand, which is influenced by such factors as forward selling bygold producers, purchases made by gold producers to unwind gold hedgepositions, central bank purchases and sales, and production and costlevels in major gold-producing countries such as South Africa, theUnited States and Australia; (ii.) investors' expectations withrespect to the rate of inflation; (iii.) currency exchange rates; (iv.)interest rates; (v.) investment and trading activities of hedge fundsand commodity funds; and (vi.) global or regional political, economicor financial events and situations.   In addition, there is noassurance that gold will maintain its long-term value in terms ofpurchasing power in the future.   In the event that the price ofgold declines, the Sponsor expects the value of an investment in theShares to decline proportionately.   Each of these events couldhave a material affect on the Trust's financial position andresults of operations.

6    LegalProceedings

The Sponsor, the World Gold Council, the Trust andBNY, as Trustee of the Trust, have been named as defendants in a civillawsuit filed by plaintiffs Gemini Diversified Holdings LLC and DanAscani in the Supreme Court of the State of New York, County of NewYork, on November 6, 2003 (Index No. 119243/03). The complaint allegesbreach of contract and misappropriation of trade secrets under theTrade Secrets Act of the State of Georgia, and seeks compensatorydamages in excess of $450,000, preliminary and permanent injunctiverelief, costs and attorneys fees and other relief. The discovery phaseof the lawsuits is now concluded and the case is expected to be triedin the summer of 2006. The Sponsor has moved for summary judgment andthe motion is pending. The Sponsor believes that it has good defensesand, therefore, believes that the outcome of the litigation will nothave a material adverse effect on the financial statements of theTrust. The Sponsor and the World Gold Council have agreed to indemnifythe Marketing Agent and UBS Securities LLC, as Purchaser in the initialpublic offering of 2,300,000 Shares, against liabilities arising out ofthecomplaint.

7    Indemnification

TheSponsor and its shareholders, members, directors, officers, employees,affiliates and subsidiaries are indemnified from the Trust and heldharmless against certain losses, liabilities or expenses incurred inthe performance of its duties under the Trust Indenture without grossnegligence, bad faith, willful misconduct, willful malfeasance orreckless disregard of the indemnified party's obligations andduties under the Trust Indenture. Such indemnity includes payment fromthe Trust of the costs and expenses incurred in defending against anyclaim or liability under the Trust Indenture. Under the TrustIndenture, the Sponsor may be able to seek indemnification from theTrust for payments it makes in connection with the Sponsor'sactivities under the Trust Indenture to the extent its conduct does not

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streetTRACKS®GOLD TRUST    

Notes to the UnauditedFinancialStatements

7    Indemnification   (continued)

disqualify it from receiving suchindemnification under the terms of the Trust Indenture. The Sponsorwill also be indemnified from the Trust and held harmless against anyloss, liability or expense arising under the Distribution Agreementwith the Purchaser, the Marketing Agent Agreement or any agreemententered into with an Authorized Participant which provides theprocedures for the creation and redemption of Baskets and for thedelivery of gold and any cash required for creations and redemptionsinsofar as such loss, liability or expense arises from any untruestatement or alleged untrue statement of a material fact contained inany written statement provided to the Sponsor by the Trustee. Anyamounts payable to the Sponsor are secured by a lien on the Trust.

The Sponsor has agreed to indemnify certain parties against certainliabilities and to contribute to payments that such parties may berequired to make in respect of those liabilities. The Trustee hasagreed to reimburse such parties, solely from and to the extent of theTrust's assets, for indemnification and contribution amounts duefrom the Sponsor in respect of such liabilities to the extent theSponsor has not paid such amounts when due. The Sponsor has agreedthat, to the extent the Trustee pays any amount in respect of thereimbursement obligations described in the preceding sentence, theTrustee, for the benefit of the Trust, will be subrogated to and willsucceed to the rights of the party so reimbursed against theSponsor.

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Item2.    Management's Discussion and Analysis of FinancialCondition and Results of Operations

Thisinformation should be read in conjunction with the financial statementsand notes included in Item 1 of Part I of this QuarterlyReport. The discussion and analysis which follows may contain trendanalysis and other forward-looking statements within the meaning ofSection 21E of the Securities Exchange Act of 1934 which reflect ourcurrent views with respect to future events and financial results.Words such as "anticipate,""expect," "intend,""plan," "believe,""seek," "outlook"and "estimate" as well as similar words andphrases signify forward-looking statements.streetTRACKS® Gold Trust's forward-lookingstatements are not guarantees of future results and conditions andimportant factors, risks and uncertainties may cause our actual resultsto differ materially from those expressed in our forward-lookingstatements.

Trust Overview

streetTRACKS®Gold Trust is an investment trust that was formed on November 12, 2004(Date of Inception). The Trust issues baskets of shares, or Baskets, inexchange for deposits of gold and distributes gold in connection withthe redemption of Baskets. The investment objective of the Trust is forthe shares to reflect the performance of the price of gold bullion,less the expenses of the Trust's operations. The shares aredesigned to provide investors with a cost effective and convenient wayto invest in gold.

Investing in the Shares does not insulate theinvestor from certain risks, including price volatility. The followingchart illustrates the movement in the price of the Shares against thecorresponding gold price (per 1/10 of an oz. of gold):

Valuation ofGold, Definition of Net Asset Value ("NAV")and Adjusted Net Asset Value ("ANAV")

As of the London PM Fix on each day that the NYSE is open forregular trading or, if there is no London PM Fix on such day or theLondon PM Fix has not been announced by 12:00 PM New York time on suchday, as of 12:00 PM New York time on such day (the"Evaluation Time"), the Bank of New York, theTrustee, evaluates the gold held by the Trust and determines both theANAV and the NAV of the Trust.

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At the Evaluation Time, the Trustee valuesthe Trust's gold on the basis of that day's London PM Fixor, if no London PM Fix is made on such day or has not been announcedby the Evaluation Time, the next most recent London gold price fix (AMor PM) determined prior to the Evaluation Time will be used, unless theTrustee, in consultation with the Sponsor, determines that such priceis inappropriate as a basis for evaluation. In the event the Trusteeand the Sponsor determine that the London PM Fix or last prior London"fix" is not an appropriate basis forevaluation of the Trust's gold, they will identify an alternativebasis for such evaluation to be employed by the Trustee.

Oncethe value of the gold has been determined, the Trustee subtracts allestimated accrued but unpaid fees (other than the fees to be computedby reference to the value of the ANAV of the Trust or custody feescomputed by reference to the value of gold held in the Trust), expensesand other liabilities of the Trust from the total value of the gold andall other assets of the Trust (other than any amounts credited to theTrust's reserve account, if established). The resulting figure isthe ANAV of the Trust. The ANAV of the Trust is used to compute thefees of the Trustee, the Sponsor and the Marketing Agent.

Todetermine the Trust's NAV, the Trustee subtracts from the ANAV ofthe Trust the amount of estimated accrued but unpaid fees computed byreference to the value of the ANAV of the Trust and computed byreference to the value of the gold held in the Trust (i.e., the fees ofthe Trustee, the Sponsor, the Marketing Agent and the Custodian). TheTrustee determines the NAV per Share by dividing the NAV of the Trustby the number of shares outstanding as of the close of trading on theNYSE.

Gold acquired, or disposed of, by the Trust is recorded ataverage cost. The table below summarizes the impact of unrealized gainsor losses on the Trust's gold holdings at March 31, 2006 andSeptember 30,2005:

|                                     |  |             |           |             |  |        |           |        |  |  |
|-------------------------------------|--|-------------|-----------|-------------|--|--------|-----------|--------|--|--|
| (Amountsin 000's ofUS$)             |  | Mar-31,2006 |           | Sep-30,2005 |
| Investmentin gold - averagecost     |  | $           | 5,319,422 |        |  | $      | 2,910,613 |   |
| Unrealizedgain on investment ingold |  |        | 1,189,022 |        |  |   | 245,610   |   |
| Investmentin gold - marketvalue     |  | $           | 6,508,444 |        |  | $      | 3,156,223 |   |
|                                     |

CriticalAccounting Policy

Valuation of Gold

Goldacquired, or disposed of, by the Trust is recorded at average cost.Gold is valued at the lower of cost or market.

Review ofFinancial Results

Financial Highlights

|                                                                                               |  |                              |       |                              |  |                              |         |                           |  |   |       |         |  |   |         |         |  |  |
|-----------------------------------------------------------------------------------------------|--|------------------------------|-------|------------------------------|--|------------------------------|---------|---------------------------|--|---|-------|---------|--|---|---------|---------|--|--|
| (Allamounts in the following table and four paragraphs, except pershare, are in 000's of US$) |  | ThreeMonthsEndedMar-31, 2006 |       | ThreeMonthsEndedMar-31, 2005 |  | Six months EndedMar-31, 2006 |         | Nov-12, 2004toMar-31,2005 |
| Total Gain/(Loss) ongold                                                                      |  | $                            | 8,883 |                         |  | $                            | (30,728 | )                    |  | $ | 9,130 |    |  | $ | (48,315 | )  |
| NetGain/(Loss)                                                                                |  | $                            | 3,152 |                         |  | $                            | (32,767 | )                    |  | $ | (78   | )  |  | $ | (50,963 | )  |
| Gain/(Loss)pershare                                                                           |  | $                            | 0.03  |                         |  | $                            | (0.67   | )                    |  | $ | 0.00  |    |  | $ | (1.21   | )  |
| Netcash flows from operatingactivities                                                        |  | $                            | 0     |                         |  | $                            | 0       |                      |  | $ | 0     |    |  | $ | 0       |    |
|                                                                                               |

TheTrust's total gain on gold for the three months endingMarch  31, 2006 is made up of a gain of $819 on the sale of goldto pay expenses plus a gain of $8,064 on gold distributed on theredemption of shares.

The Trust's total loss on gold forthe three months ending March  31, 2005 is made up of diminutionin value of investment in gold of $30,399 plus a loss of $45 on thesale of gold to pay expenses plus a loss of $284 on gold distributed onthe redemption of shares.

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The Trust's total gain on gold forthe six months ending March  31, 2006 is made up of a gain of$1,066 on the sale of gold to pay expenses plus a gain of $8,064 ongold distributed on the redemption of shares.

The Trust'stotal loss on gold from November 12, 2004 (Date of Inception) toMarch  31, 2005 is made up of diminution in value of investmentin gold of $50,696 plus a loss of $44 on the sale of gold to payexpenses offset by a gain of $2,425 on gold distributed on theredemption of shares.

Selected Supplemental Data -For the period November 12, 2004 (Date of Inception) through September30, 2005 and for the six months ended March 31, 2006

|                                                                                                  |  |             |           |             |  |        |           |          |  |  |
|--------------------------------------------------------------------------------------------------|--|-------------|-----------|-------------|--|--------|-----------|----------|--|--|
| (Allamounts, except per ounce and per share, are in000's)                                        |  | Mar-31,2006 |           | Sep-30,2005 |
| Ouncesof Gold:                                                                                   |  |        |      |        |  |   |      |     |
| OpeningBalance                                                                                   |  |        | 6,669.3   |        |  |   | 30.0      |     |
| Creations                                                                                        |  |        | 4,629.0   |        |  |   | 7,464.2   |     |
| Redemptions                                                                                      |  |        | (99.5     | )      |  |   | (809.4    | )   |
| Salesofgold                                                                                      |  |        | (15.9     | )      |  |   | (15.5     | )   |
| ClosingBalance                                                                                   |  |        | 11,182.9  |        |  |   | 6,669.3   |     |
| Goldprice per ounce - London PMfix                                                               |  | $           | 582.00    |        |  | $      | 473.25    |     |
| Marketvalue of goldholdings                                                                      |  | $           | 6,508,444 |        |  | $      | 3,156,223 |     |
| Numberof Shares:                                                                                 |  |        |      |        |  |   |      |     |
| OpeningBalance                                                                                   |  |        | 66,900    |        |  |   | 300       |     |
| Creations                                                                                        |  |        | 46,500    |        |  |   | 74,700    |     |
| Redemptions                                                                                      |  |        | (1,000    | )      |  |   | (8,100    | )   |
| ClosingBalance                                                                                   |  |        | 112,400   |        |  |   | 66,900    |     |
| NetAsset Value pershare:                                                                         |  |        |      |        |  |   |      |     |
| Creations                                                                                        |  | $           | 52.97     |        |  | $      | 43.68     |     |
| Redemptions                                                                                      |  |        | (55.38    | )      |  |   | (44.49    | )   |
| NetLoss for theperiod                                                                            |  |        | 0.00      |        |  |   | (0.11     | )   |
| AtPeriodEnd                                                                                      |  | $           | 57.89     |        |  | $      | 47.16     |     |
| NetAsset Value at PeriodEnd                                                                      |  | $           | 6,506,396 |        |  | $      | 3,155,107 |     |
| Changein Net Asset Value through periodend                                                       |  |        | 106.2     | %      |  |   | 24,018.8  | %   |
| %Difference between Net Asset Value per share and market value ofounces represented by eachshare |  |        | (0.031    | )%     |  |   | (0.035    | )%  |
|                                                                                                  |

Resultsof Operations

On November 12, 2004, the date of formation ofthe Trust, the Custodian received 30,000 ounces of gold on behalf ofthe Trust in exchange for 300,000 shares (3 Baskets). Trading in theshares in the Trust commenced on November 18, 2004 and on that date theTrust offered 2,300,000 shares (23 Baskets) through UBS Securities LLC,as underwriter, in exchange for 230,000 ounces of gold. ThroughSeptember 30, 2005 an additional 72,400,000 shares (724 Baskets) werecreated in exchange for 7,234,246 ounces of gold and 8,100,000 shares(81 Baskets) were redeemed in exchange for 809,421 ounces of gold and15,574 ounces of gold were sold to pay expenses.

In the sixmonths ended March 31, 2006, 46,500,000 shares (465 Baskets) werecreated in exchange for 4,628,984 ounces of gold and 1,000,000 shares(10 Baskets) were redeemed in exchange for 99,467 ounces of gold and15,873 ounces of gold were sold to pay expenses.

As at March 31,2006 the amount of gold owned by the Trust was 11,182,894 ounces with amarket value of $6,508,444,312 (cost − $5,319,422,316), based onthe London PM Fix on March 31, 2006 (in accordance with the TrustIndenture.

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Cash flow from operations

The Trust had no cash flow from operations in the three monthsending March 31, 2006 and 2005, or for the six moths ending March 31,2006 or for the period November 12, 2004 (Date of Inception) to March31, 2005. Cash received in respect of gold sold to pay expenses in thesix months ending March 31, 2006 and the period November 12, 2004 (Dateof Inception) to March 31, 2005 was the same as those expenses,resulting in zero cash balances at March 31, 2006 and at March 31,2005.

Cash Resources and Liquidity

At March 31,2006 the Trust did not have any cash balances. When selling gold to payexpenses, the Trustee endeavors to sell the exact amount of gold neededto pay expenses in order to minimize the Trust's holdings ofassets other than gold. As a consequence, we expect that the Trust willnot record any cash flow from its operations and that its cash balancewill be zero at the end of each reporting period.

Analysisof Movements in the Price of Gold

As movements in the priceof gold are expected to directly affect the price of the Trust'sshares, investors should understand what the recent movements in theprice of gold have been. Investors, however, should also be aware thatpast movements in the gold price are not indicators of futuremovements. This section identifies recent trends in the movements ofthe gold price and discusses some of the important events that haveinfluenced these movements.

The following chart provideshistorical background on the price of gold. The chart illustratesmovements in the price of gold in US dollars per ounce over the periodfrom January 1, 2001 to March 31, 2006, and is based on the London PMFix.

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The average, high, low and end-of-periodgold prices for the period from the inception of the Trust onNovember  12, 2004, through March 31, 2005, based on the LondonPM Fix,were:

|                                          |  |         |  |         |  |             |  |         |  |             |  |             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|------------------------------------------|--|---------|--|---------|--|-------------|--|---------|--|-------------|--|-------------|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| Period                                   |  | Average |  | High    |  | Date        |  | Low     |  | Date        |  | Endofperiod |
| November 12, 2004 to December 31,2004(1) |  | $443.59 |  | $454.20 |  | Dec2, 2004  |  | $434.00 |  | Dec 10,2004 |  | $438.00     |
| Three months to March 31,2005            |  | $427.35 |  | $443.70 |  | Mar 11,2005 |  | $411.10 |  | Feb 8,2005  |  | $427.50     |
| Three months to June 30,2005             |  | $427.39 |  | $440.55 |  | Jun 24,2005 |  | $414.45 |  | May 31,2005 |  | $437.10     |
| Three months to September 30,2005        |  | $439.72 |  | $473.25 |  | Sep 30,2005 |  | $418.35 |  | Jul 15,2005 |  | $473.25     |
| Three months to December 31,2005(2)      |  | $484.20 |  | $536.50 |  | Dec 12,2005 |  | $456.50 |  | Nov 7,2005  |  | $513.00     |
| ThreeMonths to March 31, 2006            |  | $554.07 |  | $584.00 |  | Mar30, 2006 |  | $524.75 |  | Jan 5,2006  |  | $582.00     |
| November 12, 2004 to March 31,2006       |  | $464.64 |  | $584.00 |  | Mar30,2006  |  | $411.10 |  | Feb 8,2005  |  | $582.00     |
|                                          |

|     |                                                                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | There was noLondon PM Fix on December 31, 2004. The London AM Fix on that date was$438.00. The Net Asset Value of the Trust on December 31, 2004 wascalculated using the London AM Fix, in accordance with the TrustIndenture. |

|     |                                                                                                                                                                                                                                                  |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | There was no London PM Fix onDecember 31, 2005 and December 30, 2005. The Net Asset Value of theTrust on December 31, 2005 was calculated using the London AM Fix onDecember 30, 2005, which was $513.00, in accordance with the TrustIndenture. |

The upward price trend that has been in placesince early 2001 continued during the period between the inception ofthe Trust on November 12, 2004 and March  31, 2006. During thislatter period, the gold price based on the London PM Fix traded betweena low of $411.10 per ounce (February 8, 2005) and a high of $584.00(March  30, 2006), and the average was $464.64. The price rose by36 per cent during the 12 months ending March 31, 2006, in the processreaching its highest levels since 1981. Investment demand has been thedriving force behind the sharp rally in the price since September 2005.Investment demand continued to be supported by widespread expectationsof renewed and long term dollar weakness. Another factor behind thesurge in investment was growing concern aboutinflation.

Cautionary Statement Regarding Forward-LookingInformation and Risk Factors

This report containsforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. These statements are predictions andactual events or results may differ materially from those expressed inour forward-looking statements. Risks and uncertainties may cause ouractual results to differ materially from those expressed in ourforward-looking statements. These uncertainties and other factorsinclude, but are not limited to, the following:

The value ofthe shares relates directly to the value of the gold held by the Trustand fluctuations in the price of gold could materially adversely affectan investment in the shares.

The Shares are designed to mirroras closely as possible the price of gold bullion, and the value of theShares relates directly to the value of the gold held by the Trust,less the Trust's liabilities (including estimated accrued butunpaid expenses). The price of gold has fluctuated widely over the pastseveral years. Several factors may affect the price of gold,including:

|              |                                                                                                                                                                                                                                                                                                                                |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| •  | Global gold supplyand demand, which is influenced by such factors as forward selling bygold producers, purchases made by gold producers to unwind gold hedgepositions, central bank purchases and sales, and production and costlevels in major gold-producing countries such as South Africa, theUnited States and Australia; |

|              |                                                              |
|--------------|--------------------------------------------------------------|
| •  | Investors' expectationswith respect to the rate ofinflation; |

|              |                         |
|--------------|-------------------------|
| •  | Currency exchangerates; |

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|              |                |
|--------------|----------------|
| •  | Interestrates; |

|              |                                                                         |
|--------------|-------------------------------------------------------------------------|
| •  | Investment and tradingactivities of hedge funds and commodity funds;and |

|              |                                                                           |
|--------------|---------------------------------------------------------------------------|
| •  | Global or regionalpolitical, economic or financial events and situations. |

Inaddition, investors should be aware that there is no assurance thatgold will maintain its long term value in terms of purchasing power inthe future. In the event that the price of gold declines, the Sponsorexpects the value of an investment in the Shares to declineproportionately.

The sale of gold by the Trust to pay expenseswill reduce the amount of gold represented by each share on an ongoingbasis irrespective of whether the trading price of the shares rises orfalls in response to changes in the price of gold.

Eachoutstanding Share will represent a proportional interest in the goldheld by the Trust. As the Trust will not generate any income and as theTrust will regularly sell gold over time to pay for its ongoingexpenses, the amount of gold represented by each Share will graduallydecline over time. This is true even if additional Shares are issued inexchange for additional deposits of gold into the Trust, as the amountof gold required to create Shares will proportionately reflect theamount of gold represented by the Shares outstanding at the time ofcreation. Assuming a constant gold price, the trading price of theShares is expected to gradually decline relative to the price of goldas the amount of gold represented by the Shares gradually declines. TheShares will only maintain their original price if the price of goldincreases.

Investors should be aware that the gradual decline inthe amount of gold represented by the Shares will occur regardless ofwhether the trading price of the Shares rises or falls in response tochanges in the price of gold.

Readers are urged to review theRisk Factors section contained in the Prospectus for a description ofother risks and uncertainties that may affect an investment in ourshares.

Item 3.    Quantitative and QualitativeDisclosures About Market Risk

Not applicable.

Item4.    Controls and Procedures

Disclosure controlsand procedures.    Under the supervision and with theparticipation of the sponsor, World Gold Trust Services, LLC, includingits chief executive officer and chief financial officer, we carried outan evaluation of the effectiveness of the design and operation of ourcompany's disclosure controls and procedures pursuant to Rule13a-14 of the Securities Exchange Act of 1934. Based upon thatevaluation, our chief executive officer and chief financial officerconcluded that our disclosure controls and procedures were effective asof the end of the period covered by this quarterly report.

Internal control over financial reporting.    There hasbeen no change in our internal control over financial reporting (asdefined in the Securities Exchange Act of 1934 Rules 13a-15(f) and15d-15(f)) that occurred during our most recent fiscal quarter that hasmaterially affected or is reasonably likely to materially affect, ourinternal control over financialreporting.

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PARTII - OTHER INFORMATION:

Item 1.    LegalProceedings

The Sponsor, the World Gold Council, the Trustand BNY, as Trustee of the Trust, have been named as defendants in acivil lawsuit filed by plaintiffs Gemini Diversified Holdings LLC andDan Ascani in the Supreme Court of the State of New York, County of NewYork, on November 6, 2003 (Index No. 119243/03). The complaint allegesbreach of contract and misappropriation of trade secrets under theTrade Secrets Act of the State of Georgia, and seeks compensatorydamages in excess of $450,000, preliminary and permanent injunctiverelief, costs and attorneys fees and other relief. The discovery phaseof the lawsuit is now concluded and the case is expected to be tried inthe summer of 2006. The Sponsor has moved for summary judgment and themotion is pending. The Sponsor believes it has good defenses and,therefore, believes that the outcome of the litigation will not have amaterial adverse effect on the financial statements of the Trust. TheSponsor and the World Gold Council have agreed to indemnify theMarketing Agent and UBS Securities LLC, as Purchaser in the initialpublic offering of 2,300,000 Shares, against liabilities arising out ofthe complaint.

Item 1A.    Risk Factors

Therehave been no material changes in our risk factors since we lastreported under Part I, Item 1A, in our Annual Report on Form 10-K forthe year ended September 30, 2005.

Item 2.    UnregisteredSales of Equity Securities and Use of Proceeds

As of thedate of the formation of the Trust on November 12, 2004, the NAV of theTrust, which represents the value of the gold deposited into the Trust,was $13,081,500, and the NAV per Share was $43.60. Since formation andthrough March 31, 2006, 1,215 Baskets (121,500,000 Shares) have beencreated, including 23 Baskets (2,300,000 Shares) issued in connectionwith the initial public offering of our Shares on November 18, 2004(Registration No. 333-105202). During the period from October 1, 2005to March 31, 2006, 465 Baskets (46,500,000 Shares) were created and 10Baskets (1,000,000 Shares) were redeemed. As of April 30, 2006,115,900,000 Shares were outstanding and the estimated NAV per Share asdetermined by the Trustee for April 30, 2006 was $64.03.

Item3.    Defaults Upon Senior Securities

None

Item 4.    Submission of Matters to a Vote of SecurityHolders

None

Item 5.    OtherInformation

None

Item 6.    Exhibits andReports on Form 8-K

|           |          |
|-----------|----------|
| (a)  | Exhibits |

|  |            |                                                                                                       |
|--|------------|-------------------------------------------------------------------------------------------------------|
|  | 31.1  | Certification by PrincipalExecutive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of2002. |

|  |            |                                                                                                       |
|--|------------|-------------------------------------------------------------------------------------------------------|
|  | 31.2  | Certification byPrincipal Financial Officer Pursuant to Section 302 of theSarbanes-Oxley Act of 2002. |

|  |            |                                                                                                                                                      |
|--|------------|------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | 32.1  | Certification by PrincipalExecutive Officer Pursuant to 18 U.S.C. Section 1350, as AdoptedPursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

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|  |            |                                                                                                                                                      |
|--|------------|------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | 32.2  | Certificationby Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, asAdopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

|           |                                                                             |
|-----------|-----------------------------------------------------------------------------|
| (b)  | Reports on Form 8-K filed during thequarter for which this report is filed: |

None.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,the registrant has duly caused this report to be signed on its behalfby the undersigned in the capacities* indicated thereunto dulyauthorized.

|  | WORLD GOLD TRUST SERVICES, LLCSponsor of the Equity Gold Trust                   (Registrant) |
|--|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

/s/J. StuartThomas

|  |
|--|
|  |  |  |
|  |

|  | J.Stuart Thomas Managing Director (principal executiveofficer) |
|--|----------------------------------------------------------------|

/s/ JamesLowe

|  |
|--|
|  |  |  |
|  |

|  | JamesLowe Chief Financial Officer and Treasurer (principalfinancial officer and principal accounting officer) |
|--|---------------------------------------------------------------------------------------------------------------|

Date: May 5, 2006

|         |                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------|
| *  | The Registrant is atrust and the persons are signing in their capacities as officers ofWorld Gold Trust Services, LLC, the Sponsor of theRegistrant. |

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