Filed Pursuant To Rule 433
Registration No. 333-209926
August 11, 2016
Gold demand statistics
Second quarter 2016 August
2016
Table 1: Gold demand (tonnes)
Q2’16
vs
Q2’15
20142015Q3’14Q4’14Q1’15Q2’15Q3’15Q4’15Q1’16Q2’16% change
Jewellery2,485.8 2,396.9592.9685.4597.1513.7623.6662.6481.2444.1 -14
Technology347.9 332.989.389.383.183.382.783.880.380.9-3
Electronics277.4
264.171.571.766.265.765.466.763.963.9-3
Other industrial50.7 50.113.012.812.212.812.512.511.912.4-3
Dentistry19.8 18.84.84.84.74.74.74.64.54.6-4
Investment853.8
921.5192.1183.4283.0186.1231.5220.9615.6448.4141
Total bar and coin demand1,037.7 1,049.8233.0275.4257.3209.1294.9288.5273.1211.61
Physical bar demand758.6 759.3176.5200.8191.3149.7200.7217.7200.0149.2 0
Of?cial coin202.9
218.835.754.550.645.572.949.861.449.69
Medals/imitation coin76.2 71.720.820.115.414.021.321.011.712.8-9
ETFs and similar products*-183.8 -128.3-40.9-92.125.6-23.0-63.4-67.6342.5236.8--
Central banks
and other inst.583.9 566.7174.9133.9112.4127.3168.0159.0108.276.9 -40
Gold demand4,271.4 4,218.11,049.21,091.91,075.6910.41,105.71,126.41,285.31,050.2 15
LBMA Gold Price, US$/oz1,266.4 1,160.11,281.91,201.41,218.51,192.41,124.31,106.51,182.61,259.66
*For a listing of the Exchange Traded Funds and similar products, please see the Notes and definitions.
Source: Metals Focus; GFMS, Thomson Reuters; ICE Benchmark Administration; World Gold Council
Table 2: Gold demand (US$mn)
Q2’16
vs
Q2’15
20142015Q3’14Q4’14Q1’15Q2’15Q3’15Q4’15Q1’16Q2’16% change
Jewellery101,209.8 89,397.924,435.126,472.623,390.619,691.722,540.623,570.318,295.117,983.1-9
Technology14,165.6 12,417.63,682.33,448.03,255.73,194.12,989.22,981.63,054.23,276.13
Electronics11,295.1 9,850.82,948.82,770.12,594.62,520.42,365.62,372.52,429.52,587.83
Other industrial2,066.2 1,867.5534.0493.4477.0492.2453.5445.0452.9503.62
Dentistry804.3
699.4199.6184.5184.2181.5170.0164.1171.9184.72
Investment34,764.3 34,368.17,918.07,082.711,084.97,134.58,366.67,859.723,404.318,157.5155
Total bar and coin demand42,249.5 39,154.99,603.810,639.310,080.38,017.410,658.110,263.010,383.08,569.47
Physical bar demand30,886.7 28,320.57,276.57,757.97,492.95,737.97,253.27,745.17,604.06,042.75
Of?cial coin8,260.2 8,160.31,470.32,104.81,983.51,744.12,635.01,770.42,335.22,010.0 15
Medals/imitation coin3,102.6 2,674.1857.0776.5604.0535.3770.0747.6443.8516.7-3
ETFs and
similar products*-7,485.2 -4,786.8-1,685.8-3,556.61,004.6-883.0-2,291.5-2,403.313,021.39,588.1--
Central banks and other inst.23,774.0
21,137.37,206.55,173.54,404.94,879.16,071.45,657.94,113.33,114.0 -36
Gold demand173,913.7 157,320.943,242.042,176.742,136.134,899.439,967.940,069.548,866.842,530.6
22
*For a listing of the Exchange Traded Funds and similar products, please see the Notes and definitions.
Source: Metals Focus; GFMS, Thomson Reuters; ICE Benchmark Administration; World Gold Council
Table 3: Gold supply and demand World Gold Council presentation
Q2’16
vs
Q2’15
20142015Q3’14Q4’14Q1’15Q2’15Q3’15Q4’15Q1’16Q2’16% change
Supply
Mine production3,152.63,221.4831.0845.2730.0789.6850.5851.2750.7786.9 0
Net producer hedging104.513.5-8.350.5-2.4-15.214.416.752.730.0 —
Total mine
supply3,257.03,234.9822.7895.6727.6774.4864.9868.0803.3816.9 5
Recycled gold1,202.11,123.2274.4270.0358.6267.4260.7236.5359.0327.7 23
Total supply4,459.2 4,358.01,097.11,165.71,086.11,041.71,125.71,104.51,162.31,144.6 10
Demand
Fabrication – Jewellery12,502.72,438.7639.5648.6608.1542.5662.6625.4475.4448.3 -17
Fabrication – Technology347.9332.989.389.383.183.382.783.880.380.9 -3
Sub-total above
fabrication2,850.62,771.6728.8737.8691.2625.9745.3709.2555.8529.2 -15
Total bar and coin demand1,037.71,049.8233.0275.4257.3209.1294.9288.5273.1211.6 1
ETFs and similar products2-183.8-128.3-40.9-92.125.6-23.0-63.4-67.6342.5236.8 —
Central
banks and other inst.3583.9566.7174.9133.9112.4127.3168.0159.0108.276.9 -40
Gold demand4,288.34,259.81,095.81,055.11,086.6939.21,144.71,089.21,279.51,054.5 12
Surplus/Decit4170.898.21.3110.5-0.5102.5-19.115.3-117.290.1 -12
Total
demand4,459.2 4,358.01,097.11,165.71,086.11,041.71,125.71,104.51,162.31,144.6 10
LBMA Gold Price, US $ /oz1,266.4
1,160.061,281.941,201.41,218.451,192.351,124.311,106.451,182.561,259.62 6
1For an explanation of jewellery fabrication, please see the Notes and definitions.
2For a listing of the Exchange Traded Funds and similar products, please see the Notes and definitions.
3Excluding any delta hedging of central bank options.
4For an explanation of Surplus/Decit,
please see the Notes and definitions.
Source: Metals Focus; GFMS, Thomson Reuters; ICE Benchmark Administration; World Gold Council
Table 4: Quarterly average price
Q2’16
vs
Q2’15
2015Q2’15Q3’15Q4’15Q1’16Q2’16% change
US$/oz
1,160.11,192.41,124.31,106.51,182.61,259.6 6
€/oz 1,045.31,078.01,011.51,010.11,072.31,115.7 3
£/oz 759.0777.7726.0728.6826.9879.1 13
CHF/kg
35,863.336,082.734,875.935,230.237,774.439,294.3 9
¥/g 4,513.84,656.44,416.24,320.44,374.54,367.3 -6
Rs/10g 23,903.224,332.823,476.123,446.025,677.027,099.4 11
RMB/g
234.2237.8227.8227.2248.7264.7 11
TL/g 101.4102.3103.1103.4111.9117.3 15
Source: ICE Benchmark Administration; Thomson Reuters Datastream; World Gold Council
Gold Demand Trends | Second quarter 2016 02
Table 5: Jewellery demand in selected countries (tonnes)
Q2’16
vs
Q2’15
2015Q2’15Q3’15Q4’15Q1’16Q2’16% change
India668.5 122.1215.1180.488.497.9-20
Pakistan23.2 5.45.96.66.36.521
Sri Lanka6.8 2.01.31.71.52.3 14
Greater China811.9 181.0196.0203.1191.1154.2 -15
China753.4 169.0180.6187.6179.0143.5 -15
Hong Kong51.4 10.513.713.610.28.8 -17
Taiwan7.0 1.61.72.01.91.9 22
Japan16.5 3.94.45.13.63.8 -2
Indonesia38.9 8.59.39.010.89.5 12
Malaysia8.4 1.72.01.92.21.9 13
Singapore12.2 2.73.03.13.33.1 15
South Korea14.1 2.93.73.93.92.6 -13
Thailand12.2 2.82.93.13.22.6 -7
Vietnam15.6 3.73.53.94.73.5 -5
Middle East230.3 57.756.053.655.845.0 -22
Saudi Arabia71.1 18.816.618.414.714.2 -25
UAE51.4 14.910.010.214.711.1 -26
Kuwait12.7 3.12.33.73.12.5 -21
Egypt38.2 8.911.88.26.95.3-40
Iran37.2 7.211.49.59.98.0 10
Other Middle East19.7 4.83.93.76.53.9 -18
Turkey49.0 11.612.115.08.78.7 -25
Russia41.1 9.112.510.37.37.5 -17
Americas170.1 39.038.260.133.039.0 0
United States119.3 25.626.545.022.725.91
Canada14.2 3.52.75.32.63.4 -1
Mexico16.6 4.24.44.14.14.45
Brazil20.0 5.84.75.73.65.3 -9
Europe ex CIS75.8 14.512.735.812.714.61
France13.6 2.62.06.32.72.5 -2
Germany10.2 2.11.25.21.72.12
Italy18.0 3.62.89.02.43.60
Spain8.2 2.11.92.51.82.13
United Kingdom25.9 4.14.912.94.04.21
Switzerland- -------
Austria- -------
Other Europe- -------
Total above2,194.6 468.5578.7596.7436.8402.5 -14
Other and stock change202.4 45.244.965.944.441.6 -8
World total2,396.9
513.7623.6662.6481.2444.1 -14
Source: Metals Focus; World Gold Council
Gold
Demand Trends | Second quarter 2016 03
Table 6: Total bar and coin demand in selected countries (tonnes)
Q2’16
vs
Q2’15
2015Q2’15Q3’15Q4’15Q1’16Q2’16% change
India195.8 37.757.060.228.033.1 -12
Pakistan14.5 3.83.74.03.44.2 11
Sri Lanka- -----—
Greater China236.0 46.855.267.983.141.8 -11
China228.1 45.153.265.881.340.2 -11
Hong Kong1.5 0.30.50.30.40.2 -27
Taiwan6.4 1.41.51.71.41.4 -1
Japan16.2 -0.210.88.93.55.8—
Indonesia20.1 4.54.65.35.26.0 32
Malaysia6.8 1.01.71.61.51.2 22
Singapore5.9 1.21.51.61.21.2 -1
South Korea7.5 1.32.22.41.21.0 -19
Thailand78.0 16.420.521.522.415.7 -5
Vietnam47.8 10.811.511.111.58.9 -18
Middle East62.4 14.513.110.921.812.5 -14
Saudi Arabia15.3 3.23.43.93.42.5 -21
UAE8.7 2.31.81.82.21.4 -40
Kuwait0.8 0.20.20.20.20.2 -20
Egypt4.9 1.21.41.20.80.8 -35
Iran30.1 7.05.83.114.67.2 2
Other Middle East2.6 0.60.60.60.60.5 -20
Turkey23.1 4.59.24.24.74.1 -8
Russia4.8 1.31.21.11.01.0 -22
Americas78.0 13.632.718.419.326.6 96
United States71.5 12.330.816.617.424.8101
Canada2.9 0.50.90.81.01.2136
Mexico2.2 0.40.70.60.60.3 -22
Brazil1.4 0.40.40.40.30.3 -10
Europe ex CIS222.1 45.359.958.859.344.7 -1
France1.6 -0.30.40.50.9-0.4—
Germany116.0 23.130.231.731.121.9 -5
Italy- -----—
Spain- -----—
United Kingdom9.4 1.82.72.93.23.0 65
Switzerland49.2 10.713.311.612.911.2 5
Austria12.2 2.53.53.22.92.3 -5
Other Europe33.7 7.59.78.98.26.6 -11
Total above1,019.0 202.4284.7277.6267.1207.7 3
Other and stock change30.9 6.710.110.96.03.9 -42
World total1,049.8
209.1294.9288.5273.1211.6 1
Source: Metals Focus; World Gold Council
Gold
Demand Trends | Second quarter 2016 04
Table 7: Consumer demand in selected countries (tonnes)
Q2’16
vs
Q2’15
2015Q2’15Q3’15Q4’15Q1’16Q2’16% change
India864.3 159.8272.1240.6116.5131.0 -18
Pakistan37.6 9.29.610.59.710.7 17
Sri Lanka6.8 2.01.31.71.52.3 14
Greater China1,047.8 227.9251.2271.0274.2195.9 -14
China981.5 214.1233.8253.4260.3183.7 -14
Hong Kong52.8 10.814.213.910.69.0 -17
Taiwan13.4 2.93.23.73.43.3 11
Japan32.7 3.615.213.97.19.5 163
Indonesia59.0 13.014.014.316.115.4 19
Malaysia15.2 2.73.73.53.73.1 16
Singapore18.1 3.94.54.74.54.3 10
South Korea21.6 4.25.96.25.23.6 -15
Thailand90.2 19.223.524.625.718.3-5
Vietnam63.4 14.515.015.016.212.4 -15
Middle East292.7 72.269.164.577.757.4 -20
Saudi Arabia86.3 22.019.922.318.116.7 -24
UAE60.1 17.211.812.016.912.5 -27
Kuwait13.6 3.32.53.93.32.6 -21
Egypt43.1 10.113.39.47.86.1 -39
Iran67.3 14.317.212.624.515.16
Other Middle East22.3 5.44.44.37.24.4 -18
Turkey72.1 16.121.219.213.412.8 -20
Russia45.9 10.313.711.48.38.5 -17
Americas248.1 52.670.878.552.365.6 25
United States190.8 38.057.361.640.150.7 33
Canada17.1 4.03.66.13.64.7 17
Mexico18.8 4.55.04.74.74.73
Brazil21.4 6.15.06.03.95.6-9
Europe ex CIS298.0 59.872.694.772.059.3-1
France15.2 2.32.36.83.62.1-8
Germany126.1 25.231.436.932.924.0-5
Italy18.0 3.62.89.02.43.60
Spain8.2 2.11.92.51.82.13
United Kingdom35.3 6.07.615.87.27.2 20
Switzerland49.2 10.713.311.612.911.25
Austria12.2 2.53.53.22.92.3-5
Other Europe33.7 7.59.78.98.26.6 -11
Total above3,213.5 670.9863.4874.3703.8610.2-9
Other and stock change233.2 51.955.076.850.445.5 -12
World total3,446.8
722.8918.4951.1754.3655.7-9
Source: Metals Focus; World Gold Council
Gold
Demand Trends | Second quarter 2016 05
Table 8: Indian supply estimates (tonnes)
Q2’16
vs
Q2’15
2015Q2’15Q3’15Q4’15Q1’16Q2’16% change
Supply
Gross bullion imports1,065.0 235.9304.8275.1151.4142.9-39
of which doré1 229.056.767.366.534.836.7-35
Net bullion imports913.6
202.9262.9227.6127.4120.3 -41
Scrap 80.224.018.220.014.023.8 -1
Domestic
supply from other sources29.2 2.52.22.13.32.2 -12
Total supply 3 1,003.0229.4283.3249.7144.7146.3-36
1 Volume of ne gold material contained in the doré.
2 Domestic supply from local mine
production, recovery from imported copper concentrates and disinvestment.
3 This supply can be consumed across the three sectors – jewellery, investment and
technology. Consequently, the total supply figure in the table will
not add to jewellery plus investment demand for India.
Source: Metals Focus; World Gold Council
Table 9: Top 10 physically-backed gold ETFs by AuM in
tonnes
Q2’16
Holdingsvs
as of endQ2’15
FundCountryJune% change
1SPDR Gold Shares United States950.1 34
2iShares Gold Trust United States208.2 24
3ZKB Gold ETF Switzerland142.0 3
4ETFS Physical Gold United Kingdom126.9 16
5Gold Bullion Securities United Kingdom95.3 14
6Source Physical Gold United Kingdom85.0 76
7Xetra-Gold Germany81.7 38
8Sprott Physical Gold Trust United States54.8 42
9Central Fund of Canada Ltd Canada52.0 -1
10Julius Baer Physical Gold Fund
Switzerland45.9 -7
Global total2,189.8 26
Source: Respective ETP providers;
Bloomberg; ICE Benchmark Administration; World Gold Council
Table 10: Physically-backed gold ETF AuM by region in tonnes
Q2’16
Year-on-yearvs
tonnageQ2’15
Q2’15Q3’15Q4’15Q1’16Q2’16change% change
North America 1,044.81,012.3955.91,165.21,320.1 275.3 26
Europe 618.6583.9570.2690.5763.0
144.3 23
Asia 41.042.946.054.461.2 20.2 49
Other 37.039.138.442.945.5 8.5 23
Global total 1,741.51,678.11,610.61,953.02,189.8 448.3 26
Source: Respective
ETP providers; Bloomberg; ICE Benchmark Administration; World Gold Council
Gold Demand Trends | Second quarter 2016 06
Table 11: Top 40 reported ofcial gold holdings (as at June 2016)
Tonnes% of reservesTonnes% of reserves
1United States 8,133.576%21Kazakhstan238.233%
2Germany 3,378.270%22Belgium227.438%
3IMF 2,814.0-23Philippines196.010%
4Italy 2,451.869%24Venezuela194.064%
5France 2,435.865%25Algeria173.65%
6China 1,823.32%26Thailand152.44%
7Russia 1,498.716%27Singapore127.42%
8Switzerland 1,040.07%28Sweden125.79%
9Japan 765.23%29South Africa125.211%
10Netherlands 612.563%30Mexico121.13%
11India 557.86%31Libya116.66%
12ECB 504.828%32Greece112.763%
13Turkey 474.417%33Korea104.41%
14Taiwan 422.74%34BIS104.0-
15Portugal 382.571%35Romania103.711%
16Saudi Arabia 322.92%36Poland102.94%
17United Kingdom 310.39%37Iraq89.87%
18Lebanon 286.824%38Australia79.97%
19Spain 281.620%39Kuwait79.010%
20Austria 280.045%40Indonesia78.13%
For information on the methodology behind this data, as
well as footnotes for specic countries, please see our table of Latest World Ofcial Gold Reserves,
at http://www.gold.org/government-affairs/gold-reserves
Source: IMF IFS; World Gold Council
Table 12: Historical data for gold demand
Tonnes
Total bar and coinETFs and
Jewelleryinvestmentsimilar*TechnologyCentral banksTotal
20062,301.4
429.8258.7471.7-365.43,096.2
20072,424.9 437.5259.6477.7-483.83,116.0
20082,306.2 917.9325.0464.7-235.43,778.3
20091,816.3
832.3644.6414.4-33.63,674.0
20102,051.6 1,201.2420.8460.579.24,213.2
20112,091.6 1,491.9238.5428.5480.84,731.4
20122,130.4
1,297.5306.7381.4569.34,685.2
20132,678.8 1,705.1-915.5356.0623.84,448.2
20142,485.8 1,037.7-183.8347.9583.94,271.4
20152,396.9
1,049.8-128.3332.9566.74,218.1
Q3’14592.9 233.0-40.989.3174.91,049.2
Q4’14685.4 275.4-92.189.3133.91,091.9
Q1’15597.1
257.325.683.1112.41,075.6
Q2’15513.7 209.1-23.083.3127.3910.4
Q3’15623.6 294.9-63.482.7168.01,105.7
Q4’15662.6
288.5-67.683.8159.01,126.4
Q1’16481.2 273.1342.580.3108.21,285.3
Q2’16444.1 211.6236.880.976.91,050.2
*For a listing of the Exchange
Traded Funds and similar products, please see the Notes and definitions.
Source: Metals Focus; GFMS, Thomson Reuters; World Gold Council
Gold Demand Trends | Second quarter 2016 07
SPDR® GOLD TRUST has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold Shares, 30th Floor, Boston, MA 02111.