Terms of Use and Privacy Statement

Sections of this Document:

The SPDR Gold Trust website and all its microsites (collectively called "this Website") is operated and published by the World Gold Trust Services LLC, 424 Madison Avenue, 3rd Floor, New York, New York 10017, United States. Your use of this Website or any of its sections or pages is governed by the terms and conditions on this Website.

WGTS reserves the right, without notice, to change or modify any of the terms and conditions on this Website in any manner and at any time. You are responsible for regularly reviewing all such terms and conditions.

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Use of this website

This Website is for U.S. investors and the information and materials on this Website are provided for general informational and educational purposes. You are permitted to save, display or print out information contained on this Website only for your personal, non-commercial use. Except as otherwise permitted by these terms and conditions, you are not permitted to modify, copy, distribute, transmit, display, reproduce, publish, license, frame, link, create derivative works from, transfer or otherwise use in any manner, in whole or in part, this Website or the information and materials on this Website without the prior written authorization of WGTS and with suitable accreditation to WGTS. To request such authorization, please contact us at spdrgoldshares@ssga.com.

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Important notice

The information in this website is directed at, and is intended for distribution to, and for use by, persons in the U.S. only, and is not intended for distribution to or use by any person in any other jurisdiction. Neither WGTS nor State Street warrants the accuracy or completeness of any price, tax, cost basis, or other information on this site, or any investment, tax or other benefits associated with SPDR Gold Trust or SPDR Gold Shares.

The information on SPDR Gold Trust and SPDR Gold Shares contained in this website is solely for informational purposes and does not constitute either an offer to sell or the solicitation of an offer to buy Gold Shares. This information on SPDR Gold Trust or SPDR Gold Shares is not, and is not intended to be, a complete discussion of all material information you should know about SPDR Gold Shares. If you are considering whether to purchase a SPDR Gold Trust security, you should carefully read the relevant prospectus prior to making a purchase. You should not rely on the information contained in this Internet site. Please view Terms of Use and Legal Notices for additional important legal information and the terms and conditions governing your use of this site.

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Important Legal Information and Risk Statement

The information provided by this Website has been prepared by WGTS for information purposes only. Neither the information nor any opinions contained or expressed in the Website constitutes or should be construed as a solicitation or offer by WGTS, State Street, or either of their affiliates to buy or sell any gold securities or other financial instruments or to provide any investment advice, recommendations, or services of any kind.

The information in the Website is descriptive of SPDR Gold Trust and may not be available to or suitable for you. Not all strategies are appropriate at all times. The opinions expressed in the Website do not constitute investment advice and should not be construed to be a warranty or guarantee of a return on an investment. Independent advice should be sought in cases of doubt.

Investing in SPDR Gold Shares described in this website involves significant risks. You should carefully read the relevant prospectus before buying SPDR Gold Shares. With respect to information about SPDR Gold Shares you should rely only upon the information contained in the relevant prospectus. The value and income of the SPDR Gold Shares mentioned in the Website can fall as well as rise and an investor may get back less than he invested. Past performance is not necessarily a guide to future performance.

SPDR Gold Shares are neither interests in nor obligations of either the Authorized Participants or the Trustee of, the SPDR Gold Trust. WGTS, State Street, or either of their affiliates may at any time have a position, or otherwise be interested, in financial instruments which are directly or indirectly the subject of information contained in this Website (including without limitation any securities or other financial instruments included in WGTS).

The information in this Website is directed at, and is intended for distribution to, and use by, persons in the U.S. only. It is not intended for distribution to, or use by, any person in any other jurisdiction. Access to the information contained in this Website may be restricted by laws or regulations applicable to you. None of the services or investments referred to in the Website are available, and prospectuses in respect of them will not be distributed to persons resident in any state or territory where such distribution would be contrary to local law or regulation. It is your responsibility as the user to be informed of and to observe all applicable laws and regulations of any relevant jurisdiction.

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Proprietary rights

This Website and all information and materials on this Website are protected by international copyright and trademark laws and other intellectual property laws, and any unauthorized use of any information and materials on this Website may violate such laws. All information and materials on this Website are owned or controlled by WGTS or State Street, as the case may be, or are used by WGTS or State Street with the permission of the third party owner or provider of such information or materials. These terms and conditions are not intended to, and do not, transfer or grant any rights in or to this Website or the information and materials on this Website other than those which are specifically described in these terms and conditions, and all rights not expressly granted in these terms and conditions are reserved by WGTS or State Street, or by the third party owners or providers from whom WGTS or State Street have obtained information and materials on this Website. World Gold Trust Services LLC and State Street and all their associated companies together with their logos, trademarks and graphics (including symbols and artwork) and the trade address of this Website are all trade names, trademarks or service marks of WGTS or State Street and may not be used without their permission. In no event may trademarks, service marks or other proprietary elements on this Website owned by WGTS or State Street be reproduced separately from the textual content associated with them. In addition, you are not permitted to alter, obscure or remove any copyright, trademark or other notice on this Website or in the information and materials on this Website. The name of other actual companies and third party products or services identified on this Website may be the trade names, trademarks or service marks of their respective owners.

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Changes to this website

WGTS reserves the right, without notice, (i) to change, add, modify or remove any information and materials on this Website in any manner and at any time, and (ii) to suspend, limit, restrict and/or deny access to any aspect or part of this Website at any time for any reason, including, without limitation, for any scheduled or unscheduled maintenance, upgrades, improvements or corrections. Neither WGTS, State Street, nor any of their third party providers shall have any duty or responsibility (i) to maintain, update, correct or remove any information and materials on this Website for any reason or (ii) to advise or identify any information and materials on this Website which may be outdated, incomplete, inaccurate or erroneous.

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Disclaimer of warranties and limitation of liability

Neither WGTS nor State Street make any express or implied representation or warranty of any kind, including, without limitation, any representation or warranty of title, non- infringement, merchantability or fitness for a particular purpose or use, concerning this Website and any information or materials on or accessible through this Website. Neither WGTS, State Street, nor any of their subsidiaries or affiliates nor any director, officer or employee of the foregoing shall be liable or have any responsibility for any loss, liability or damage that you may incur in connection with (i) your use of this Website and any information or materials on or accessible through this Website, (ii) any erroneous connection or communication between you and WGTS or you and State Street made through this Website, (iii) the transmission of any computer viruses or other harmful components that may cause damage to another's computer system or network although every reasonable effort has been made to ensure that the website is free from viruses, (iv) any aspect of the performance of this Website, including, without limitation, any failure, delay, interruption or disruption of this Website or your access to this Website, (v) the delivery of any information and materials or services available on or through this Website or the execution of any transactions made on or through this Website, (vi) any other cause relating to your access, or use of this Website and any of the information or materials on this Website, and (vii) any unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure, regardless of whether any of the foregoing circumstances in this paragraph giving rise to such loss, liability or damage may have been within the control of WGTS, State Street, or any third party servicing this Website. Without limiting any of the foregoing, in no event will WGTS, State Street, or any of their subsidiaries or affiliates or any director, officer or employee of the foregoing be liable for any consequential, special, punitive, incidental, indirect or similar damages arising from, related to or connected with your access and use of this Website and the information and materials on this Website, even if notified or advised of the possibility of such damages.

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Security

Whilst every reasonable effort has been made to ensure that the content of this Website is secure, neither WGTS nor State Street make any representation or warranty, express or implied, concerning the security of this Website, including, without limitation, with respect to the ability of unauthorized persons to access, intercept or use information or materials transmitted by you to this Website or from this Website to you. None of WGTS, State Street, nor any of their subsidiaries or affiliates nor any director, officer or employee of the foregoing shall be liable or have any responsibility for any loss, liability or damage that you may incur from any third party access, interception or use of any information, materials or services on or accessible through this Website or any tampering with your computer system done by unauthorized parties.

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Accuracy of information

Although the information and materials on this Website were obtained or compiled from sources WGTS and State Street believe to be reliable, neither WGTS nor State Street make any express or implied representation, warranty or guarantee as to the accuracy, validity, reliability, timeliness or completeness of any such information or materials in general or in connection with any particular use or purpose. Neither WGTS nor State Street represent or endorse the accuracy or reliability of any third party advice, opinion, statement, information or materials on (including links from) or accessible through this Website.

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Investment advice - no offer or recommendation

This Website and the information and materials on this Website do not, and shall not be construed as, making any recommendation or providing any investment or other advice with respect to the purchase, sale or other disposition of any regulated gold related products or any other regulated products, securities or investments, including, without limitation, any advice to the effect that any gold related transaction is appropriate or suitable for any investment objective or financial situation of a prospective investor.

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Local legal restrictions

The information and materials on this Website are not directed to and may not be used by any person or entity in any jurisdiction where the direction or use of such information and materials is prohibited or would be contrary to applicable laws, rules or regulations of any governmental authority or regulatory organization.

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Third party links

This Website may contain links to websites owned, sponsored or maintained by third parties, including, without limitation, links to members, affiliates, or subsidiaries of either WGTS or State Street. These links are provided only as a convenience to you. The inclusion of any link on this Website to a third party website is not and does not imply any affiliation, sponsorship, endorsement, approval, investigation, verification or authorization by WGTS or State Street of such third party website or the information or materials on such third party website. Neither WGTS nor State Street make any representations, warranties or guarantees with respect to, and is not responsible for, any third party website or the information and materials on such third party website or your use of or inability to use such third party website. You should also be aware that the terms and conditions of use for any third party website and such website's privacy policies may be different from those applicable to your use of this Website.

We use third party advertising companies to serve ads on our behalf across the Internet. These third-party advertising companies employ cookie and Web Beacon (also referred to as 1x1 pixel.gifs or action tags) technology to measure and improve the effectiveness of ads for their clients. To do so, these companies may use anonymous information about your visits to our website and other websites. This information can include: date/time of banner ad shown, their cookie, and the first three octets of the IP address. They do not collect personally identifying information (PII). This anonymous information can also be used for online preference marketing purposes. Third party advertising companies may use information about your visits to this and other websites in order to provide ads about goods and services of interest to you. For more information about this practice and to know your choices about not having this information used by the third party.

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Privacy

WGTS and State Street recognize the importance of protecting the privacy of all information provided by visitors of this Website. We have created the following policy guidelines with a fundamental respect for our visitors' right to privacy to guide our relationships with our visitors.

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Information Collected by World Gold Trust Services

WGTS and State Street may collect information about visitors during their use of this Website through the use of cookies. When visitors request pages from our server, our Web server automatically collects some information about the visitors, including their IP addresses. These addresses are used by computers on the network to send the requested pages to visitors.

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Use of Information

WGTS and State Street will not reveal any personal information that visitors provide to them to any third party without their permission. WGTS and State Street use visitors' IP addresses to help diagnose problems with our server and to administer the Website. We also use it to gather broad demographic information about our visitors in general. This information does not contain anything that can identify visitors personally. We may combine demographic information supplied by a subscriber at registration with site usage data to provide profiles, in aggregate form, about our visitors and their preferences in the content of the site and advertising. We may share this composite information with our advertisers to help them better understand our services, but neither WGTS nor State Street give advertisers information about individual visitors. Using e-mail addresses provided at registration or otherwise, WGTS and State Street periodically send out e-mail newsletters and promotional e-mail to our visitors about services and publications offered by this Website and its advertisers. Visitors can indicate that they do not wish to receive e-mail information from WGTS, State Street, or their advertisers. Third parties will not contact our visitors through the use of our e-mail newsletter lists except through advertisements within the newsletters themselves, or unless visitors ask to be placed on a list to receive e-mail from our advertisers on subjects of interest. This Website uses cookies to deliver content specific to visitors' interests and to honour their preferences. This information is used to assist us in creating a site that will serve the needs of our visitors. Upon request, WGTS and State Street will remove visitors (and their information) from their database or permit them to "opt-out" of any further e-mail newsletters or contact. Although WGTS and State Street do not specifically seek to obtain any information from children, there are certain areas of our website that children may visit. We urge children only to give us any information after they have discussed it with their parents. WGTS and State Street are not responsible for the content or the privacy polices of websites to which it may provide links or the websites of its advertisers. WGTS and State Street uses all reasonable precautions to keep the personal information disclosed to us secure and to disclose such information only to responsible third parties after permission from the visitor.

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Governing law

This Website is governed by and shall be construed in accordance with United States of America law and any dispute as to its terms shall be submitted to the exclusive jurisdiction of the courts of United States of America. If you have any questions about this privacy statement or the practices of this Website you can contact us at spdrgoldshares@ssga.com.

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Information for non-U.S. investors

The products and services described on this website are intended to be made available only to persons in the Unites States, and the information on this website is only for such persons. Nothing on this website shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such an offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.

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No Reliance

Information contained in the website is checked and updated by spdrgoldshares.com with due diligence on a regular basis. However, data on the website may become outdated. Therefore, neither spdrgoldshares.com nor U.S. affiliates of spdrgoldshares.com (collectively hereinafter referred to as "Affiliates") assume any liability or guarantee for the timeliness, accuracy, and completeness of the information provided. Spdrgoldshares.com uses reasonable efforts to obtain information from sources that it believes to be reliable; however, spdrgoldshares.com and its Affiliates makes no representation that the information or opinions contained on the website is accurate, reliable, or complete. The information on the website is provided for information purposes only and is subject to change without notice. The investments and strategies discussed in the contents may not be suitable for all investors and are not obligations of spdrgoldshares.com or guaranteed by spdrgoldshares.com or its Affiliates. The investments are not bank deposits and are not insured by the FDIC, CIFP, CDIC, or any other entity and are subject to investment risks, including the loss of the principal amount invested. Nothing contained on the website constitutes investment, legal, tax, or other advice nor is to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

 

SPDR trademark

"SPDR" is a trademark of Standard & Poor's Financial Services, LLC ("S&P") and has been licensed for use by the Sponsor. The "SPDR" trademark is used under license from S&P 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 SPDR ® Gold Trust, or its affiliates, is sponsored, endorsed, sold or promoted by S&P. S&P 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. S&P is not responsible for and has not participated in any determination or calculation made with respect to issuance or redemption of financial products. S&P 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 S&P 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.

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Caution Concerning Forward-Looking Statements

The information on this website includes "forward-looking statements" which generally relate to future events or future performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or the negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included on this website that address activities, events or developments that will or may occur in the future, including such matters as changes in commodity prices and market conditions (for gold and the Shares), the Trust's operations, the Sponsor's plans and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors believed appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to:

  • fluctuations in the price of gold;
  • reductions in the amount of gold represented by each Share due to the payment of Trust’s expenses;
  • the effect of the Trust as a passive investment vehicle;
  • the effect on the value of the Shares if the Trust’s gold is sold to pay expenses at a time of low gold prices;
  • purchasing activity in the gold market associated with the purchase of Baskets from the Trust;
  • the lack of 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 termination or liquidation of the Trust at a time that is disadvantageous to Shareholders;
  • the withdrawal of Authorized Participants;
  • the lack of a an active trading market for the Shares or a halt in the trading of the Shares;
  • the impact of the sale of gold by ETFs or other exchange traded vehicles on the price of gold;
  • the postponement, suspension or rejection by the Trustee of redemption orders under certain circumstances;
  • competition from other methods of investing in gold;
  • the impact of large-scale distress sales of gold in times of crisis;
  • the impact of substantial sales of gold by the official sector;
  • the effect of a widening of interest rate differentials between the cost of money and the cost of gold;
  • the loss, damage, theft or restrictions on access to the Trust’s gold;
  • the lack of adequate sources of recovery if the Trust’s gold is lost, damaged, stolen or destroyed, including a lack of insurance;
  • the failure of gold bullion allocated to the Trust to meet the London Good Delivery Standards;
  • the failure of subcustodians to exercise due care in the safekeeping of the Trust’s gold;
  • the limited ability of the Trustee and the Custodian to take legal action against subcustodians;
  • the insolvency of the Custodian;
  • the lack of specific governmental regulatory supervision of the gold bullion custody operations of the Custodian;
  • the reliance by the Trustee on certain information received from the Custodian in issuing Baskets;
  • the Trust’s obligation to reimburse the Marketing Agent and the Authorized Participants for certain liabilities in the event the Sponsor fails to indemnify them; and
  • other factors identified in the "Risk Factors" section of the Prospectus filed with the SEC and in other filings made by the Trust from time to time with the SEC.

Consequently, all the forward-looking statements made on this website are qualified by these cautionary statements, and there can be no assurance that the actual results or developments the Sponsor or Marketing Agent anticipates will be realized or, even if substantially realized, that they will result in the expected consequences to, or have the expected effects on, the Trust's operations or the value of the Shares. Neither the Sponsor, Marketing Agent nor any other person assumes responsibility for the accuracy or completeness of the forward-looking statements. Neither the Trust, Marketing Agent nor the Sponsor is under a duty to update any of the forward-looking statements to conform such statements to actual results or to reflect a change in the Sponsor's or Marketing Agent's expectations or predictions.

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Copyright © 2003, World Gold Trust Services LLC.