On Tuesday, November 12, executives and guests of the World Gold Council and State Street Global Advisors (SSgA) will gather at the New York Stock Exchange (NYSE) to celebrate the 9th anniversary of SPDR Gold Shares exchange traded fund (ETF). The World Gold Council, through its US subsidiary as sponsor and in partnership with State Street Global Advisors, launched the ETF on NYSE Arca, all electronic trading platform of NYSE Euronext, on November 18, 2004 under the ticker symbol "GLD".
GLD provides over one million investors worldwide with the ability to access to the gold market. Since its launch, the ETF continues to see strong trading demand with a 30 day average daily trading volume of 8.4 million shares, making it the world's largest gold ETF and one of the most liquid securities traded on NYSE Arca. (Source: Arcavision, SSgA)
In honor of the momentous occasion, Kevin Feldman, Managing Director of Investment Worldwide, will ring the NYSE Closing Bell. He will be joined by Kevin Quigg, global head of SPDR ETF strategy and consulting at SSgA, and other World Gold Council and SSgA leadership.
Connect with the World Gold Council on YouTube (Word Gold Council); Twitter (@GOLDCOUNCIL); and Facebook (Word Gold Council).
About SPDR Gold Shares (GLD):
SPDR Gold Shares offer investors an innovative, relatively cost efficient and secure way to access the gold market. SPDR Gold Shares are intended to offer investors a means of participating in the gold bullion market without the necessity of taking physical delivery of gold, and to buy and sell that interest through the trading of a security on a regulated stock exchange. The launch of SPDR Gold Shares was intended to lower many of the barriers, such as access, custody, and transaction costs, that had prevented some investors from investing in gold.
SPDR Gold Shares represent fractional, undivided beneficial ownership interests in the Trust, the sole assets of which are gold bullion, and, from time to time, cash. SPDR Gold Shares are intended to lower a large number of the barriers preventing investors from using gold as an asset allocation and trading tool. These barriers have included the logistics of buying, storing and insuring gold. In addition, certain pension funds and mutual funds do not or cannot hold physical commodities, such as gold, or the derivatives. (Source: SPDR Gold Shares)
About World Gold Council:
The World Gold Council is the market development organisation for the gold industry. Working within the investment, jewellery and technology sectors, as well as engaging with governments and central banks, our purpose is to provide industry leadership, whilst stimulating and sustaining demand for gold.
We develop gold-backed solutions, services and markets, based on true market insight. As a result, we create structural shifts in demand for gold across key market sectors. We provide insights into the international gold markets, helping people to better understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.
Based in the UK, with operations in India, the Far East, Europe and the US, the World Gold Council is an association whose members include the world's leading and most forward thinking gold mining companies. (Source: World Gold Council)
About State Street Global Advisors:
State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world's leading providers of financial services to institutional investors.
The "SPDR" trademark is used under license from The McGraw-Hill Companies, Inc. ("McGraw-Hill"). No financial product offered by SPDR® Gold Trust, or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. (Source: State Street Global Advisors)