GOLDMAN SACHS PHYSICAL GOLD ETF SHARES ETF

The investment seeks to provide investors with an opportunity to invest in gold through shares, and have the gold securely stored by the Custodial Sponsor; reflecting the performance of the price of gold less the expenses of the trust?s operations is the secondary consideration. The trust holds London Bars and Physical Gold of other specifications without numismatic value. It receives gold deposited by Authorized Participants in exchange for the creation of Baskets and delivers gold to Authorized Participants in exchange for Baskets surrendered to it for redemption.