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World Gold Council and State Street Global Advisors launch low-cost gold ETF


The World Gold Council, a market development organisation for the gold industry, and State Street Global Advisors, have launched the SPDR Gold MiniShares Trust (Symbol: GLDM).   

GLDM, which has a net and gross expense ratio of 0.18 per cent, will initially be listed at a per-share trading price of 1/100th of an ounce of gold, as represented by the LBMA Gold Price PM (USD).
“We believe GLDM is designed to provide an effective means for investors seeking the diversification benefits gold exposure may bring to a portfolio,” says Noel Archard, global head of SPDR product at State Street Global Advisors. “Combined with a relatively low expense ratio, GLDM’s relatively low share price provides all types of investors access to gold within portfolios, and we are excited to partner with the World Gold Council on another ETF for helping clients target investment goals.”
“Investors’ portfolio needs are continuously evolving, and it is important that there is a full range of physically-backed gold products available as they implement investment solutions,” says Joseph Cavatoni, Principal Executive Officer of GLDM’s sponsor and Managing Director USA and ETFs, World Gold Council. “We are pleased to now offer a suite of solutions that are designed to align with investors’ preferred characteristics, whether it’s liquidity, trading efficiency, total cost of ownership or managing their exposures in a strong US dollar environment.”

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