GLD website on the gap between investment pools and gold settlement

3 posts / 0 new
Last post
Strongsidejedi
Strongsidejedi's picture
Offline
Joined: 06/14/2011
Hat Tips: 11801
Posts: 2281
GLD website on the gap between investment pools and gold settlement

http://www.tfmetalsreport.com/blog/4871/down-under#comment-334415

@TF - you probably already know this. But, I am not an investor in GLD and just found this interesting tid bit.

After posting my missive in the other thread about the huge gap between GLD investment inflows in 2004-2006 and the substantial delay in changes in the gold price, it is clear that the GLD clearly states that this gap is in London, on the LBMA, and admit to the delays.

The paragraphing below is mine.

From: http://www.spdrgoldshares.com/usa/gold-bar-list/

quote: Gold bar list and Inspectorate certificates

All of the Trust’s gold is held by the Custodian, HSBC Bank USA, N.A. ("HSBC"), in their London vault except when the gold has been allocated in the vault of a sub-custodian. In such cases HSBC has agreed that it will use commercially reasonable efforts to promptly transport the gold from the sub-custodian’s vault to the HSBC’s London vault, at HSBC’s cost and risk.

The sub-custodians that HSBC use are Bank of England and London Bullion Market Association (“LBMA”) market–making members that provide bullion vaulting and clearing services to third parties. ...

The ounces of gold listed on the daily barlist may differ from the ounces of gold listed as owned by SPDR® Gold Trust ("Trust") on the website due to timing differences in trading and settlement.

The barlist includes ounces of gold on a settlement date basis, while ounces shown on the website are on a trade date basis.

Effective June 1, 2011, the Trust has entered into an agreement with HSBC Bank USA, N.A., the Trust’s Custodian, which will ensure that all of the Trust’s gold is held in allocated form at the end of each working day.

Edited by admin on 11/08/2014 - 06:15
Strongsidejedi
Strongsidejedi's picture
Offline
Joined: 06/14/2011
Hat Tips: 11801
Posts: 2281
GLD inventory

http://www.spdrgoldshares.com/media/GLD/file/Inspectorate_Certificate_Ma...
March 15, 2013 -
"gold inventory" at "close of business on February 22, 2013"
"this account held title to 105,840 London Good Delivery, large Gold Bars of a purity between 99.50% and 99.99% and a weight of 42,423,511.826 fine troy ounces of Gold."

published July 26, 2013 -
http://www.spdrgoldshares.com/assets/dynamic/GLD/file/barlist/Barlist.pdf
"Client Gold Stock Holdings
Total Allocated Bar Count: 74,517
Total Allocated Fine Weight : 29,892,679.507
"Gold Stock List as of C.O.B 25-Jul-2013"
__________________________________________________________

Um, am I reading these documents correctly?
GLD had 42,423,511.826 fine troy ounces of gold on Feb 22, 2013.
GLD now has 29,892,679.507 fine troy ounces allocated.

Are 13 million ounces unallocated?
Or, did 13 million ounces LEAVE GLD?

Strongsidejedi
Strongsidejedi's picture
Offline
Joined: 06/14/2011
Hat Tips: 11801
Posts: 2281
GLD Inventory

Published as of July 11, 2014 (roughly one year after the posting above)

GLD Client Gold Stock Holding

Total Allocated Bar Count:  64,113

Total Allocated Fine Weight :  25, 722,369.041

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "GLD website on the gap between investment pools and gold settlement"