Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-167807
March 2, 2011
PRODUCT PAGE - IAU
- Commodities-
http://us.ishares.com/product_info/fund/overview/IAU.htm
[Header]
[IAU] iShares Gold Trust
Inception date: 1/21/2005
The iShares Gold Trust is not a standard ETF. The Trust is not an investment company registered under the Investment Company Act of 1940 or a commodity pool for purposes of the Commodity Exchange Act. Shares of the Trust are not subject to the same regulatory requirements as mutual funds. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.
[PDF] Download current prospectus
Please read the prospectus carefully before investing
[PDF] Access periodic SEC reports
Gold At-a-glance
[link] Learn about gold >
For more information on gold investing and IAU, call a specialist at 1.800.iShares (1.800.474.2737)
[Left Hand Resources]
Trust Documents
(pdf icon) Fact Sheet
(pdf icon) Prospectus
(excel icon) Historical Returns
(excel icon) NAV/Index History
(excel icon) Historical Data
(pdf icon) Annual Report
(pdf icon) Gold Bar List
Related Links & Documents
(tool icon) Quotes & Charts
(tool icon) Premium/Discount
(icon) Tax Information
(icon) Data Update Schedule
(pdf icon) iShares Gold Trust FAQ
(pdf icon) iShares Gold Trust Bar List Glossary
(link) Vault Inspection Certificates
(link) iShares Institutional
Additional Commodities Trusts
(icon) S&P GSCI(R) Commodity-Indexed Trust
(icon) Silver Trust
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Overview | Performance | Bar List
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[Left Column]
The iShares Gold Trust (Trust) seeks to correspond generally to the day-to-day movement of the price of gold bullion. The objective of the Trust is for the value to reflect, at any given time, the price of gold owned by the Trust at that time, less the expenses and liabilities of the Trust.
Backed by Physical Gold
The shares are backed by gold, identified on the custodians books as property of the Trust and held by the custodian in vaults in the vicinity of New York, Toronto, London and other locations.
Accessible
Investors may purchase and sell shares through traditional brokerage accounts. The shares are listed and trade on NYSE Arca and are available to be bought or sold throughout the trading day.
Cost Efficient
Shares of the Trust may represent a cost-efficient alternative to investments in gold for investors not otherwise in a position to participate directly in the market for physical gold.
Transparent
Price, NAV, and holding amounts of gold are available daily. Vault inspections are conducted twice a year and inspection certificates are available here (url: http://us.ishares.com/library/kits/iau_vault_inspection_certificates.htm)
Average Annualized Total Returns (NAV) quarterly, as of xx/xx/2010 |
View all performance | |||||||||
1 Year |
3 Years |
5 Years |
10 Years |
1 Yr. | ||||||
IAU |
x.xx% | x.xx% | x.xx% | x.xx% | x.xx% | |||||
Benchmark* |
x.xx% | x.xx% | x.xx% | x.xx% | x.xx% |
* | Source: Bloomberg. The London Gold PM Fix benchmark is valued on the basis of each days announced price for an ounce of gold set by five market making members of the London Bullion Market Association. Prior to 12/9/2010 the benchmark is based on the Gold Futures Spot Month Settlement Price as reported by the COMEX division of the CME Group and disseminated through Bloomberg. The London Gold PM Fix price and the spot price are for illustrative purposes only and do not represent actual iShares Gold Trust performance. The London Gold PM Fix price and the spot price do not reflect any fees, transaction costs or expenses. |
Trading Data | ||
10-Day Average Trading Volume as of xx/xx/2011 |
x,xxx,xxx | |
Current Volume * |
x,xxx,xxx | |
Current Price* |
$xx.xx |
Bid/Ask * |
$xx.xx/$xx.xx | |
* as of 09/17/2010 04:00 pm ET | ||
Gold Held and Vault Locations | ||
Ounces of Gold in Trust as of xx/xx/2011 |
x,xxx,xxx.xx | |
Tonnes of Gold in Trust as of xx/xx/2011 |
xx.xx | |
<World map with a dot highlighting Toronto, New York and London> [title] Diversified Vault Locations |
||
[link] Gold Bar List |
||
Fundamentals as of xx/xx/2011 | ||
Beta Beta (vs S&P 500) |
xx.xx | |
Standard Deviation (3 year) |
xx.xx% | |
Premium/Discount as of xx/xx/2011 | ||
Premium/Discount Click here for important information about Premium/Discount |
xx.xx% | |
NAV Click here for information on how NAV is determined |
$xxxx.xxxx | |
Mid-Point |
$xxxx.xxxx | |
Closing Price |
$xxxx.xxxx | |
[Right Column]
| ||
Profile as of xx/xx/2011 | ||
Total Net Assets |
$xxxxxxxx | |
Shares Outstanding |
xxxxxxxxx | |
Sponsors Fee |
0.25% | |
Inception Date |
1/21/2005 | |
Ounces of Gold in Trust |
xxxxxxxxx | |
Tonnes of Gold in Trust |
xxx.xxxx | |
Indicative Basket Gold Amount |
xxxxxxxxx | |
Basket Gold Amount |
xxxxxxxxx | |
NAV per IAU in Gold |
xxxxxxxxx | |
Related Index |
GOLDLNPM | |
Net Asset Value as of xx/xx/2011 |
$xxxxxxx xx.xx% $xx.xx | |
Price as of xx/xx/2011 |
$xxxxxxx xx.xx% $xx.xx | |
(tool icon) Quotes & Charts (tool icon) Premium/Discount |
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. This information must be accompanied by standardized returns. For standardized returns and performance data current to the most recent month end, click the Performance tab above.
Gold Spot Price | ||
Bid |
xxxxxxxx | |
Ask |
xxxxxxxx | |
Mid |
xxxxxxxx | |
Time |
xxxxx |
Source: TheBullionDesk.com Time stamp is GMT (Greenwich Mean Time). Click here for Important Disclosure.
Trading Information | ||
Ticker | IAU | |
Related Index | GOLDLNPM | |
NAV | IAU.NV | |
Underlying Trading Value | IAU.IV | |
Shares Outstanding | IAU.SO | |
CUSIP | 464285105 | |
[link] Options Available |
iShares ETFs | Understanding ETFs | Portfolio Strategies | Tools & Charts | Advisor Resources | ||||
All iShares ETFs | Track 1: Fundamentals of ETFs | Investment Strategies Cash Equitization |
Portfolio Construction Tools |
iShares Market Commentaries | ||||
Sector Strategies | Asset Class Illustrator | Practice Evolution | ||||||
Core Solutions | Track 2: Benefits | Dividend Strategies | Sector & Country | Resources for Your Practice | ||||
Equity | of ETFs | Portfolio Completion | Exposure | Resources to use with Clients | ||||
Fixed Income | Blending Index and | Fixed Income Portfolio | ||||||
Track 3: Why iShares | Active | Builder | Charitable Giving | |||||
Index Data | ETFs? | Tax Strategies | Correlation Calculator | |||||
Equity Index Overview | Seeking Alpha | Core/Satellite Portfolio | Resource Library | |||||
Fixed Income Index | Track 4: Fixed Income | Builder | Whitepapers | |||||
Overview | ETFs | Asset Class Solutions | Fund Fact Sheets | |||||
Large-Cap Equity | Desktop Widgets | Brochures and Newsletters | ||||||
Track 5: International | Small-Cap Equity | Index Leaders and | Financial, Legal and Tax | |||||
ETFs | Developed International | Trailers | Documents | |||||
Fixed Income | iShares Fund | Continuing Education Credits | ||||||
Emerging Markets | Quick Finder | Videos | ||||||
Alternatives | Audio | |||||||
Gold | Research & Performance | Webinars and Events | ||||||
Tools | iShares ETF Data Download | |||||||
Fund Comparison | ||||||||
Fund Screener | ||||||||
Quotes & Charts | ||||||||
Index Returns Chart | ||||||||
Index Comparison Tool | ||||||||
Tracking Error Chart | ||||||||
Premium/Discount Chart | ||||||||
Historical Returns Tool | ||||||||
Performance Reports Tool |
Company Information: About iShares | Press Room | Careers | Contact Us | Other Products: iShares 401k | iShares 529 | iPath ETNs | Charitable Giving | |
Help: FAQs | Glossary | Subscribe to iShares: Literature | Podcasts | |
Legal Info: Policy Privacy | Terms & Conditions | Prospectus | Regulatory Disclosures | Follow Us On: [Facebook icon] [Twitter icon] [Blog icon] |
iShares Gold Trust (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 and other documents the Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting www.iShares.com or EDGAR on the SEC website at www.sec.gov. Alternatively, the Trust will arrange to send you the prospectus if you request it by calling toll-free 1-800-474-2737.
Investing involves risk, including possible loss of principal. Because shares of the Trust are created to reflect the price of the gold held by the Trust, the market price of the shares will be as unpredictable as the price of gold has historically been. Additionally, shares of the Trust are bought and sold at market price (not NAV). Brokerage commissions will reduce returns.
Shares of the Trust are created to reflect, at any given time, the market price of gold owned by the trust at that time less the trusts expenses and liabilities. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. If an investor sells the shares at a time when no active market for them exists, such lack of an active market will most likely adversely affect the price received for the shares. For a more complete discussion of the risk factors relative to the Trust, carefully read the prospectus.
Following an investment in shares of the Trust, several factors may have the effect of causing a decline in the prices of gold and a corresponding decline in the price of the shares. Among them: (i) Large sales by the official sector. A significant portion of the aggregate world gold holdings is owned by governments, central banks and related institutions. If one or more of these institutions decides to sell in amounts large enough to cause a decline in world gold prices, the price of the shares will be adversely affected. (ii) A significant increase in gold hedging activity by gold producers. Should there be an increase in the level of hedge activity of gold producing companies, it could cause a decline in world gold prices, adversely affecting the price of the shares. (iii) A significant change in the attitude of speculators and investors towards gold. Should the speculative community take a negative view towards gold, it could cause a decline in world gold prices, negatively impacting the price of the shares.
The amount of gold represented by shares of the Trust will decrease over the life of the trust due to sales necessary to pay the sponsors fee and trust expenses. Without increase in the price of gold sufficient to compensate for that decrease, the price of the shares will also decline, and investors will lose money on their investment. The Trust will have limited duration. The liquidation of the trust may occur at a time when the disposition of the trusts gold will result in losses to investors.
Although market makers will generally take advantage of differences between the NAV and the trading price of Trust shares through arbitrage opportunities, there is no guarantee that they will do so. There is no guarantee an active trading market will develop for the shares, which may result in losses on your investment at the time of disposition of your shares. The value of the shares of the Trust will be adversely affected if gold owned by the trust is lost or damaged in circumstances in which the trust is not in a position to recover the corresponding loss. The Trust is a passive investment vehicle. This means that the value of your shares may be adversely affected by trust losses that, if the trust had been actively managed, might have been possible to avoid.
Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal deposit Insurance Corporation or any other governmental agency.
BlackRock Asset Management International Inc. (BAMII) is the sponsor of the Trust. BlackRock Fund Distribution Company (BFDC), a subsidiary of BAMII, assists in the promotion of the Trust. BAMII is an affiliate of BlackRock, Inc.
Although shares of the iShares® Gold Trust may be bought or sold on the exchange through any brokerage account, shares of the Trust are not redeemable from the Trust except in large aggregated units called Baskets.
Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies of this document may be obtained from your broker, from any exchange on which options are traded or by contacting The Options Clearing Corporation, One North Wacker Dr., Suite 500, Chicago, IL 60606 (1-888-678-4667). The document contains information on options issued by The Options Clearing Corporation. The document discusses exchange traded options issued by The Options Clearing Corporation and is intended for educational purposes. No statement in the document should be construed as a recommendation to buy or sell a security or to provide investment advice.
If you need further information, please feel free to call the Options Industry Council Helpline. They will be able to provide you with balanced options education and tools to assist you with your iShares options questions and trading. The Options Industry Council Helpline phone number is 1-888-Options (1-888-678-4667) and their website is www.888options.com.
Gold Spot Prices provided by The Bullion Desk. No warranty is given for the accuracy of these prices and no liability is accepted for reliance thereon. Prices are provided on a reasonable efforts basis and delays may occur both because of the delay in third parties communicating the information to the site and because of delays inherent in posting information over the internet. Prices shown are indicative only and do not represent actionable quotations on prices of actual trades.
Certain sectors and markets perform exceptionally well based on current market conditions and the Trust can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.
Net Asset Value (NAV) is determined as specified in the prospectus: based on the current value of the Gold Futures contract closest to maturity (Spot Settlement Contract). For more information on the Spot Settlement Price, go to www.NYMEX.com.
The Premium/Discount table presents information about the difference between the daily market price for shares of the Trust and the Trusts net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Trusts NAV is calculated (usually 4:00 p.m. eastern time). The table above shows the premium or discount expressed as a percentage of NAV. Although market makers will generally take advantage of differences between the NAV and the trading price of iShares Trust shares through arbitrage opportunities, there is no guarantee that they will do so.
Why is there a difference between NAV and Closing Price? A major reason for the difference is that Timing Discrepancies can exist between the NAV and Closing Price (last trade) reported above. Information is constantly flowing to and among investors, corporations, and financial institutions that affects their outlook on the financial markets and the value of securities. This process, known as Price Discovery, is why market prices change and evolve throughout the trading day. It is important to note that even when markets are closed, the price discovery process continues 24 hours a day, 7 days a week, 365 days a year.
Possible Timing Discrepancies:
1. | Close of Trading Times: The NAV of the iShares Trust normally is calculated using prices as of 4:00 p.m. ET. Shares of the Trust normally trade on the NYSE Arca Exchange until 4:15 p.m. ET. Price discovery between 4:00 p.m. and 4:15 p.m. ET may result in a difference between the NAV and the Closing Price of the Trust. |
2. | Time of Last Trade: Trading generally takes place throughout the normal trading hours for the iShares Trust on the listing exchange. At times, many trades are placed in rapid succession. At other times, little or no trading activity is taking place. It is important to note that the date/time of the last trade (which is recorded as the Closing Price) may not take place at exactly 4:00 p.m. ET when the iShares Trust normally calculates NAV. The date/time of the last trade sometimes may occur before 4:00 p.m. ET or up until 4:15 p.m. ET as discussed above. Thus, ongoing price discovery may result in a deviation between the price recorded as the Closing Price and the NAV of the Trust shares at 4:00 p.m. ET. |
©2011 BlackRock Institutional Trust Company, N.A. All rights reserved. iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
© Copyright 2011
[Tabs]
Overview | Performance | Bar List
Home > Product Information > IAU Performance [print icon]Print [email icon]Email page [excel icon]Export to Excel [feedback icon]Feedback
Total Returns as of xx/xx/2010 | ||||||||||||
Quarter-End Month-End as of [drop-down] Dec (Q4) 2010 |
||||||||||||
Total Returns (%) | Market Price Returns (%) | |||||||||||
IAU | Benchmark* | IAU | ||||||||||
YTD |
xx.xx | xx.xx | xx.xx | |||||||||
1 Month |
xx.xx | xx.xx | xx.xx | |||||||||
3 Month |
xx.xx | xx.xx | xx.xx | |||||||||
6 Month |
xx.xx | xx.xx | xx.xx | |||||||||
1 Year |
xx.xx | xx.xx | xx.xx | |||||||||
3 Years |
xx.xx | xx.xx | xx.xx | |||||||||
5 Years |
xx.xx | xx.xx | xx.xx | |||||||||
10 Years |
xx.xx | xx.xx | xx.xx | |||||||||
Since Inception |
xx.xx | xx.xx | xx.xx |
Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.
Annual Returns |
||||||||||||
Total Returns (%) | Market Price Returns (%) | |||||||||||
IAU | Benchmark* | IAU | ||||||||||
2009 |
xx.xx | xx.xx | xx.xx | |||||||||
2008 |
xx.xx | xx.xx | xx.xx | |||||||||
2007 |
xx.xx | xx.xx | xx.xx | |||||||||
2006 |
xx.xx | xx.xx | xx.xx |
* | Source: Bloomberg. The London Gold PM Fix benchmark is valued on the basis of each days announced price for an ounce of gold set by five market making members of the London Bullion Market Association. Prior to 12/9/2010 the benchmark is based on the Gold Futures Spot Month Settlement Price as reported by the COMEX division of the CME Group and disseminated through Bloomberg. The London Gold PM Fix price and the spot price are for illustrative purposes only and do not represent actual iShares Gold Trust performance. The London Gold PM Fix price and the spot price do not reflect any fees, transaction costs or expenses. |
Fees & Expenses | ||||
Expense Type |
Amount | |||
Sponsors Fee |
0.25 | % |
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investors shares, when sold, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
iShares ETFs | Understanding ETFs | Portfolio Strategies | Tools & Charts | Advisor Resources | ||||
All iShares ETFs | Track 1: Fundamentals of ETFs |
Investment Strategies Cash Equitization |
Portfolio Construction Tools |
iShares Market Commentaries | ||||
Sector Strategies | Asset Class Illustrator | Practice Evolution | ||||||
Core Solutions | Track 2: Benefits | Dividend Strategies | Sector & Country | Resources for Your Practice | ||||
Equity | of ETFs | Portfolio Completion | Exposure | Resources to use with Clients | ||||
Fixed Income | Blending Index and | Fixed Income Portfolio | ||||||
Track 3: Why iShares | Active | Builder | Charitable Giving | |||||
Index Data | ETFs? | Tax Strategies | Correlation Calculator | |||||
Equity Index Overview | Seeking Alpha | Core/Satellite Portfolio | Resource Library | |||||
Fixed Income Index | Track 4: Fixed Income | Builder | Whitepapers | |||||
Overview | ETFs | Asset Class Solutions | Fund Fact Sheets | |||||
Large-Cap Equity | Desktop Widgets | Brochures and Newsletters | ||||||
Track 5: International | Small-Cap Equity | Index Leaders and | Financial, Legal and Tax | |||||
ETFs | Developed International | Trailers | Documents | |||||
Fixed Income | iShares Fund | Continuing Education Credits | ||||||
Emerging Markets | Quick Finder | Videos | ||||||
Alternatives | Audio | |||||||
Gold | Research & Performance | Webinars and Events | ||||||
Tools | iShares ETF Data Download | |||||||
Fund Comparison | ||||||||
Fund Screener | ||||||||
Quotes & Charts | ||||||||
Index Returns Chart | ||||||||
Index Comparison Tool | ||||||||
Tracking Error Chart | ||||||||
Premium/Discount Chart | ||||||||
Historical Returns Tool | ||||||||
Performance Reports | ||||||||
Tool |
Company Information: About iShares | Press Room | Careers | Contact Us
Help: FAQs | Glossary
Legal Info: Policy Privacy | Terms & Conditions | Prospectus | Regulatory Disclosures |
Other Products: iShares 401k | iShares 529 | iPath ETNs | Charitable Giving
Subscribe to iShares: Literature | Podcasts
Follow Us On: [Facebook icon] [Twitter icon] [Blog icon] |
Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. eastern time (when NAV is normally determined for most iShares products), and do not represent the returns you would receive if you traded shares at other times.
iShares Gold Trust (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 and other documents the Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting www.iShares.com or EDGAR on the SEC website at www.sec.gov. Alternatively, the Trust will arrange to send you the prospectus if you request it by calling toll-free 1-800-474-2737.
Investing involves risk, including possible loss of principal. Because shares of the Trust are created to reflect the price of the gold held by the Trust, the market price of the shares will be as unpredictable as the price of gold has historically been. Additionally, shares of the Trust are bought and sold at market price (not NAV). Brokerage commissions will reduce returns.
Shares of the Trust are created to reflect, at any given time, the market price of gold owned by the trust at that time less the trusts expenses and liabilities. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. If an investor sells the shares at a time when no active market for them exists, such lack of an active market will most likely adversely affect the price received for the shares. For a more complete discussion of the risk factors relative to the Trust, carefully read the
prospectus.
Following an investment in shares of the Trust, several factors may have the effect of causing a decline in the prices of gold and a corresponding decline in the price of the shares. Among them: (i) Large sales by the official sector. A significant portion of the aggregate world gold holdings is owned by governments, central banks and related institutions. If one or more of these institutions decides to sell in amounts large enough to cause a decline in world gold prices, the price of the shares will be adversely affected. (ii) A significant increase in gold hedging activity by gold producers. Should there be an increase in the level of hedge activity of gold producing companies, it could cause a decline in world gold prices, adversely affecting the price of the shares. (iii) A significant change in the attitude of speculators and investors towards gold. Should the speculative community take a negative view towards gold, it could cause a decline in world gold prices, negatively impacting the price of the shares.
The amount of gold represented by shares of the Trust will decrease over the life of the trust due to sales necessary to pay the sponsors fee and trust expenses. Without increase in the price of gold sufficient to compensate for that decrease, the price of the shares will also decline, and investors will lose money on their investment. The Trust will have limited duration. The liquidation of the trust may occur at a time when the disposition of the trusts gold will result in losses to investors.
Although market makers will generally take advantage of differences between the NAV and the trading price of Trust shares through arbitrage opportunities, there is no guarantee that they will do so. There is no guarantee an active trading market will develop for the shares, which may result in losses on your investment at the time of disposition of your shares. The value of the shares of the Trust will be adversely affected if gold owned by the trust is lost or damaged in circumstances in which the trust is not in a position to recover the corresponding loss. The Trust is a passive investment vehicle. This means that the value of your shares may be adversely affected by trust losses that, if the trust had been actively managed, might have been possible to avoid.
Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal deposit Insurance Corporation or any other governmental agency.
BlackRock Asset Management International Inc. (BAMII) is the sponsor of the Trust. BlackRock Fund Distribution Company (BFDC), a subsidiary of BAMII, assists in the promotion of the Trust. BAMII is an affiliate of BlackRock, Inc.
Although shares of the iShares® Gold Trust may be bought or sold on the exchange through any brokerage account, shares of the Trust are not redeemable from the Trust except in large aggregated units called Baskets.
Certain sectors and markets perform exceptionally well based on current market conditions and the Trust can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.
©2011 BlackRock Institutional Trust Company, N.A. All rights reserved. iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
© Copyright 2011
[Tabs]
Overview | Performance | Bar List
Home > Product Information > IAU Bar List [print icon]Print [email icon]Email page [feedback icon]Feedback
[PDF icon] Bar List
Gold Held and Vault Locations |
<World map with a dot highlighting Toronto, New York and London> |
[title] Diversified Vault Locations | ||||
Ounces of Gold in Trust as of xx/xx/2011 | x,xxx,xxx.xx | |||
Tonnes of Gold in Trust as of xx/xx/2011 | xx.xx |
Gold held by the iShares Gold Trust (IAU) meet standards set by the London Bullion Market Association and/or COMEX. These two organizations set requirements for bar size, the bar markings and fineness of the gold bar.
All gold held in the Trust is secured in vaults in London, New York and Toronto. The trust is audited twice each year by a third-party. Click either of the following links to view the latest vault inspection certificate[link to pdf] or a full inventory of settled gold[link to pdf] in the trust.
Important note on Trade Date vs. Settlement Date The amount of gold listed as held by the trust can differ between data displayed on the webpage and the bar list pdf. These differences are due to timing and settlement procedures. The bar list includes settled gold as well as gold that will be redeemed but is pending settlement. The amount of gold displayed on the web page represents the amount of gold in the Trust as of the trade date, regardless of the settlement date.
Bullion Weight List
[Sample image of pdf]
1. | Vault The name of vault. |
2. | Vault Location The location of the vault where the bar of gold is stored. |
3. | Total Bars The number of gold bars held for the trust in the vault. |
4. | Gross Ounces Gross weight of the gold bars expressed in troy ounces. A troy ounce is equal to 1.0971428. |
5. | Fine Ounces The number of total fine troy ounces in the gold bars held in the vault. |
Sample Bar List PDF
[Sample image of pdf]
1. | Brand Name of company that refined the bar of gold. |
2. | Bar No. Identifying serial number stamped into the bar. |
3. | Shape Category of standard bar size, generally either 400 troy ounces or 100 troy ounces. Actual gross weight is listed in the column titled Gross Ounces. |
4. | Assay Measurement of the fineness (or purity) of the gold contained in a particular bar, expressed as the fine metal content in parts per 10,000. |
5. | Gross Ounces Gross weight of the bar of gold expressed in troy ounces. A troy ounce is equal to 1.0971428. |
6. | Fine Ounces The number of fine troy ounces in the gold bar. The fine troy ounces are calculated by multiplying the applicable Gross Ounces by the bars Assay fineness. |
7. | Vault The location of the vault where the bar of gold is stored. |
iShares ETFs | Understanding ETFs | Portfolio Strategies | Tools & Charts | Advisor Resources | ||||
All iShares ETFs | Track 1: Fundamentals of ETFs | Investment Strategies Cash Equitization |
Portfolio Construction Tools | iShares Market Commentaries | ||||
Sector Strategies | Asset Class Illustrator | Practice Evolution | ||||||
Core Solutions Equity |
Track 2: Benefits of ETFs |
Dividend Strategies Portfolio Completion |
Sector & Country Exposure |
Resources for Your Practice Resources to use with Clients |
Fixed Income | Blending Index and | Fixed Income Portfolio | ||||||
Track 3: Why iShares | Active | Builder | Charitable Giving | |||||
Index Data | ETFs? | Tax Strategies | Correlation Calculator | |||||
Equity Index Overview | Seeking Alpha | Core/Satellite Portfolio | Resource Library | |||||
Fixed Income Index | Track 4: Fixed Income | Builder | Whitepapers | |||||
Overview | ETFs | Asset Class Solutions | Fund Fact Sheets | |||||
Large-Cap Equity | Desktop Widgets | Brochures and Newsletters | ||||||
Track 5: International | Small-Cap Equity | Index Leaders and | Financial, Legal and Tax | |||||
ETFs | Developed International | Trailers | Documents | |||||
Fixed Income | iShares Fund | Continuing Education Credits | ||||||
Emerging Markets | Quick Finder | Videos | ||||||
Alternatives | Audio | |||||||
Gold | Research & Performance | Webinars and Events | ||||||
Tools | iShares ETF Data Download | |||||||
Fund Comparison | ||||||||
Fund Screener | ||||||||
Quotes & Charts | ||||||||
Index Returns Chart | ||||||||
Index Comparison Tool | ||||||||
Tracking Error Chart | ||||||||
Premium/Discount Chart | ||||||||
Historical Returns Tool | ||||||||
Performance Reports | ||||||||
Tool |
Company Information: About iShares | Press Room | Careers | Contact Us | Other Products: iShares 401k | iShares 529 | iPath ETNs | Charitable Giving | |
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iShares Gold Trust (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 and other documents the Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting www.iShares.com or EDGAR on the SEC website at www.sec.gov. Alternatively, the Trust will arrange to send you the prospectus if you request it by calling toll-free 1-800-474-2737.
Investing involves risk, including possible loss of principal. Because shares of the Trust are created to reflect the price of the gold held by the Trust, the market price of the shares will be as unpredictable as the price of gold has historically been. Additionally, shares of the Trust are bought and sold at market price (not NAV). Brokerage commissions will reduce returns.
Shares of the Trust are created to reflect, at any given time, the market price of gold owned by the trust at that time less the trusts expenses and liabilities. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. If an investor sells the shares at a time when no active market for them exists, such lack of an active market will most likely adversely affect the price received for the shares. For a more complete discussion of the risk factors relative to the Trust, carefully read the prospectus.
Following an investment in shares of the Trust, several factors may have the effect of causing a decline in the prices of gold and a corresponding decline in the price of the shares. Among them: (i) Large sales by the official sector. A significant portion of the aggregate world gold holdings is owned by governments, central banks and related institutions. If one or more of these institutions decides to sell in amounts large enough to cause a decline in world gold prices, the price of the shares will be adversely affected. (ii) A significant increase in gold hedging activity by gold producers. Should there be an increase in the level of hedge activity of gold producing companies, it could cause a decline in world gold prices, adversely affecting the price of the shares. (iii) A significant change in the attitude of speculators and investors towards gold. Should the speculative community take a negative view towards gold, it could cause a decline in world gold prices, negatively impacting the price of the shares.
The amount of gold represented by shares of the Trust will decrease over the life of the trust due to sales necessary to pay the sponsors fee and trust expenses. Without increase in the price of gold sufficient to compensate for that decrease, the price of the shares will also decline, and investors will lose money on their investment. The Trust will have limited duration. The liquidation of the trust may occur at a time when the disposition of the trusts gold will result in losses to investors.
Although market makers will generally take advantage of differences between the NAV and the trading price of Trust shares through arbitrage opportunities, there is no guarantee that they will do so. There is no guarantee an active trading market will develop for the shares, which may result in losses on your investment at the time of disposition of your shares. The value of the shares of the Trust will be adversely affected if gold owned by the trust is lost or damaged in circumstances in which the trust is not in a position to recover the corresponding loss. The Trust is a passive investment vehicle. This means that the value of your shares may be adversely affected by trust losses that, if the trust had been actively managed, might have been possible to avoid.
Shares of the Trust are not deposits or other obligations of or guaranteed by BlackRock, Inc., and its affiliates, and are not insured by the Federal deposit Insurance Corporation or any other governmental agency.
BlackRock Asset Management International Inc. (BAMII) is the sponsor of the Trust. BlackRock Fund Distribution Company (BFDC), a subsidiary of BAMII, assists in the promotion of the Trust. BAMII is an affiliate of BlackRock, Inc.
Although shares of the iShares® Gold Trust may be bought or sold on the exchange through any brokerage account, shares of the Trust are not redeemable from the Trust except in large aggregated units called Baskets.
©2011 BlackRock Institutional Trust Company, N.A. All rights reserved. iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
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Definitions:
Benchmark: London Gold PM Fix Price
Beta: Beta measures the risk of the fund compared to market benchmark. Statistically, it is the covariance of the fund and benchmark, divided by the variance of the benchmark.
Standard Deviation: The Standard Deviation is the statistical measure of the degree to which an individual value in a probability distribution tends to vary from the mean of the distribution. It is widely applied in modern portfolio theory, where the past performance of securities is used to determine the range of possible future performance, and a probability is attached to each performance.
Premium/Discount: The Premium/Discount table presents information about the difference between the daily market price for shares of the Trust and the Trusts net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Trusts NAV is calculated (usually 4:00 pm Eastern time). The table above shows the premium or discount expressed as a percentage of NAV. Although market makers will generally take advantage of differences between the NAV and the trading price of Gold Trust shares through arbitrage opportunities, there is no guarantee that they will do so. There is no guarantee an active trading market for the shares, which may result in losses on your investment at the time of disposition of your shares.
Nav: NAV is the price per share at which the Trust issues and redeems shares, calculated by the Trust accountants.
Mid-Point: The Bid/Ask Mid-point (Market Price) is the midpoint between the highest and the lowest offer on the listing exchange, as of the time that the Trusts NAV is calculated (usually 4:00pm Eastern time).
Closing Price: The Closing Price is the price of the last reported trade on any major market.
Tonnes of Gold in Trust: One metric tonne is equivalent to 1,000 kilograms or 32,150.7465 troy ounces.
NAV per IAU in Gold: Current basket of gold in ounces as a percentage of inception basket size of 500 ounces.
Ticker: The Exchange Trading Symbol is used to find the price at which the Trust last traded on the stock exchange it is listed on. Shares of the Trust trade on the NYSE Arca Exchange.