$GLDM

World Gold Trust (GLDM) filed an SEC Form 8-K — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective September 28, 2026, WGC USA Asset Management Company, LLC, the sponsor of World Gold Trust and its series, SPDR®

North American gold ETF buying surged from $71M in July to $7.7B in August, with global holdings reaching a record 4,189 metric tons. SPDR Gold MiniShares Trust (GLDM), a low-cost gold ETF, is down 3% after the Fed's September rate hike. The fund's performance is now being tested by rising real yields.

Investors withdrew $603M from SPDR Gold Shares (GLD) this week, but most funds flowed into cheaper gold ETFs like GLDM, IAU, and IAUM. Gold ETFs saw record inflows in August, with global holdings reaching 4,189 tonnes. GLD's expense ratio is 0.40%, while others charge less. Gold is trading at $4,347/oz, up from $4,294.

Asset managers at Future Proof discuss ETF strategies ahead of a potential Fed rate hike. State Street's Mark Alberici and F/m Investments' Alex Morris highlight short-duration and fixed-income ETFs, citing products like BILS, SPTU, TBIL, and RBIL. State Street also notes its equity and alternative ETFs, including SPYM, DIA, QNDX, GLD, and ALLW. Milliman's Adam Schenck emphasizes healthcare ETFs, such as MHIG and MHIP, as safe havens.

SPDR Gold MiniShares Trust (GLDM) dropped 3% after Fed Chair Kevin Warsh's hawkish speech raised September rate-hike odds to 58%. GLDM had gained 30% over the past year, benefiting from global gold ETF inflows. The dollar's weakness and central bank buying continue to support gold, but real yields are a concern. GLDM, along with peers IAUM and SGOL, offers cheap physical gold exposure.

Gold prices have dropped 27% this year, driven by ETF outflows and rising US bond yields. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) saw significant outflows, while the Roundhill Memory ETF (DRAM) gained assets. Rising bond yields and inflation expectations have reduced gold's appeal. Technical indicators suggest potential recovery, but outflows and yields remain challenges. Spot gold briefly fell below $4,000 but rebounded to $4,093.63.

Gold rose after a weak July jobs report on Aug. 7, lifting SPDR Gold MiniShares Trust (GLDM). Nonfarm payrolls were slightly lower and unemployment rose to 4.1% from 4.2%, shifting rate-cut expectations. GLDM closed near $86, up about 7% in a month and ~29% over a year, still below its early-2026 record.

Gold fell in Q2 2026, with SPDR Gold MiniShares Trust (GLDM) down about 16% from Apr 1 to Jun 30, its worst quarter since 2013, while SPDR Gold Shares (GLD) dropped from about $424 to $368. The article cites rising real yields, a stronger dollar, and ETF flows, and notes GLDM’s 0.10% expense ratio vs GLD’s 0.40%.

The article compares gold ETFs GLD and GLDM and gold-miner ETF GDX. GLD is down about 7.36% YTD through July 13, 2026, with a 0.40% net expense ratio. It says GLDM has lower fees and has outperformed GLD (19.09% vs 18.76% over 12 months). GDX is down about 14.46% YTD.

The U.S. ETF industry reported record assets of about $15T and first-half net inflows over $1T, according to ETF market data cited in the article. Bond ETFs reached a record ~$2.5T with $300B+ YTD inflows. Thematic flows favored AI hardware, including the new Roundhill Memory ETF (DRAM) with $17B Q2 flows. Gold ETFs saw ~$3B outflows and spot bitcoin ETFs ~$4B outflows.