World Gold Council and State Street Global Advisors Announce the Launch of GLDW, the First US-Listed Gold-Backed ETF Designed for a Strong US Dollar Environment

http://newsroom.statestreet.com/press-release/corporate/world-gold-council-and-state-street-global-advisors-announce-launch-gldw-fir



The World Gold Council, the market development organization for the gold industry and State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT) through its affiliate, State Street Global Markets, LLC, the marketing agent for GLDW, today announced that the SPDR^® Long Dollar Gold Trust (GLDW) began trading on the NYSE Arca. GLDW seeks to track the performance of the Solactive GLD® Long USD Gold Index, less fund expenses.
“The price of gold and the US dollar have historically tended to move in opposite directions,” said Nick Good, co-head of the Global SPDR business at State Street Global Advisors. “By lessening the dollar’s potential impact on gold, GLDW seeks to provide investors the opportunity to realize the potential benefits of using gold as a strategic portfolio diversifier, while offering the ability to buffer against the potential adverse effects of a strong dollar on gold.”