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For Investment Professionals Only. Not for use with the public.
The statements and opinions expressed are those of the author and are subject to change at any
time, based on
market and other conditions. This material is for informational purposes only and does not
constitute investment
or tax advice and it should not be relied on as such.
ETPs trade like stocks, are subject to investment risk and will fluctuate in market value.
The value of the SPDR® Gold Shares relates directly to the value of the gold held by the SPDR® Gold
Trust (less
Trust expenses) and fluctuations in the price of gold could materially adversely affect an
investment in the
Shares. Investors should be aware that there is no assurance that gold will maintain its long-term
value in terms
of purchasing power in the future. In the event that the price of gold declines, the SPDR® Gold
Trust expects the
value of an investment in the Shares to similarly decline.
Shareholders of the SPDR® Gold Trust will not have the protections associated with ownership of
shares in an
investment company registered under the Investment Company Act of 1940 or the protections afforded
by the
Commodity Exchange Act of 1936. The SPDR® Gold Trust is not registered as an investment company
under the
Investment Company Act of 1940 and is not required to register under such act. Neither World Gold
Trust
Services, LLC nor the Trustee of the SPDR® Gold Trust is subject to regulation by the CFTC.
Shareholders will
not have the regulatory protections provided to investors in CEA-regulated instruments or commodity
pools.
The SPDR® Gold Trust has filed a registration statement (including a prospectus) with the SEC with
respect to the
SPDR® Gold Shares to which this communication relates. Before you invest in SPDR® Gold Shares, you
should
read the prospectus in that registration statement and other documents the Issuer has filed with
the SEC for more
complete information about the Issue and SPDR® Gold Shares. You may get these documents for free by
visiting
EDGAR on the SEC website at www.sec.gov. Alternately, the Issuer or any Authorized Participant in
respect of
the SPDR® Gold Shares will arrange to send you the prospectus if you request it by calling toll
free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares,
30th Floor,
Boston, MA 02111.
The prospectus contains material information about the SPDR® Gold Trust and its Shares which is
material and/or
which may be important to you. You should read the entire prospectus, including Risk Factors
before making an
investment decision about the Shares.
The SPDR® trademark is used under license from The McGraw-Hill Companies, Inc. and the SPDR® Gold
Trust
is permitted to use the SPDR trademark pursuant to a sublicense from the Marketing Agent. No
financial product
offered by State Street, SPDR® Gold Trust, or its affiliates is sponsored, endorsed, sold or
promoted by The
McGraw-Hill Companies, Inc. (McGraw-Hill). McGraw-Hill makes no representation or warranty,
express or
implied, to the owners of any financial product or any member of the public regarding the
advisability of investing
in securities generally or in financial products particularly or the ability of the index on which
financial products are
based to track general stock market performance. McGraw-Hill is not responsible for and has not
participated in
any determination or calculation made with respect to issuance or redemption of financial products.
McGraw-Hill
has no obligation or liability in connection with the administration, marketing or trading of
financial products.
WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL McGRAW-HILL HAVE ANY LIABILITY
FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT
LIMITED TO, LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
Not FDIC Insured No Bank Guarantee May Lose Value.
Distributor for all SPDR ETFs: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned
subsidiary of State Street Corporation. References to State Street may include State Street
Corporation and its
affiliates. Certain State Street affiliates provide services and receive fees from the SPDR® ETFs.
SPDR Gold Shares are marketed by State Street Global Markets, LLC, One Lincoln Street, Boston, MA
02111-2900.
Before investing, consider the funds investment objectives, risks, charges and expenses. To
obtain a prospectus which contains this and other information, call 1-866-787-2257 or visit
www.spdrs.com. Read it carefully.
© 2009 State Street Corporation. All Rights Reserved.
IBG-0735
Exp. Date: 6/30/2010