SPDR Gold Trust surpasses $30B in assets

The SPDR Gold Trust (GLD) exchange traded fund has surpassed $30 billion in assets, making it the second-largest ETF by assets in the world, State Street Global Markets LLC and World Gold Trust Services LLC, a wholly owned subsidiary of the World Gold Council of London, said today. The largest ETF in terms of assets is State Street’s SPDR S&P 500 ETF (SPY), which has more than $60 billion in assets. State Street Global Markets is an affiliate of State Street Global Advisors of Boston. “As economic uncertainty climbs, an increasing number of investors are adding more gold to their portfolios,” Natalie Dempster, the New-York based head of investment for North America at the World Gold Council, said in a statement. “Assets in the trust have increased by more than 60% in the last six months,” she said. “This growth underscores gold’s safe-haven appeal and its recognition as an excellent portfolio diversifier among a wide array of financial advisers and investors.” Launched by World Gold Trust Services and State Street in November 2004, the SPDR Gold Trust was the first U.S. commodities-based exchange-traded security.