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It holds physical gold bars in a vault and sells shares that track the price of gold.
GLDM is a trust, not a normal company. It buys gold bars, locks them in a vault, and sells shares to people who want to own gold without carrying it around. The trust does not make a product or hire engineers. Its only job is to hold the metal and let its shares move up and down with the gold price. The people who buy those shares are ordinary investors, financial advisors, and traders who want gold in their brokerage account. Each share represents a tiny slice of a real bar.
Think of it as a coat check for gold. You hand over your money, you get a ticket, and someone else stores the heavy stuff in a secure room. You never touch the metal, but you own it. The trust charges a small annual fee, about 0.10% of your money, which is very cheap for this kind of fund. That fee is how the business makes money. The trust sells new shares to keep up with demand and can redeem them too.
The World Gold Trust launched this mini version in 2018 to give smaller investors a cheaper, bite-sized way into gold. The big idea was low cost and low share price, so a beginner could buy a piece without spending much. With gold near record highs, the trust has grown fast and now holds tens of billions of dollars in metal. Its free cash flow is basically the fee it collects, and it keeps things simple: no debt drama, no quarterly earnings surprises, just a vault full of shiny bars and a steady stream of small fees.
Saved answer · last researched 11 Oct 2026