Filed Pursuant To Rule 433Registration No. 333-158105

June 26, 2009(Supersedes FWP filed June 11, 2009)

WGC “The Case for Gold” June 2009 Power Point Presentation posted on www.spdru.com

The Case f or Gold Wo rld Gold Cou nci l - June 2009

The inf ormatio n and opinion s contained i n this presentation have been obtained f rom sour ces believed to be reliable, but no representation or warr an ty, express o r impl ied, is made that su ch infor mation is accurate or com plete and it should no t be relied upo n as such. Th is pr esentati on does not purp ort to make any recommendation or pr ovide inves tment advice to t he ef fect that any g old related tr ansaction is appr opri at e f or all invest ment objectives , financial s ituat ions or part icular needs . Prio r to m aki ng any inves tment decis ions , inves tors should seek adv ice f rom their advisers on whether any part of this presentation is appr opriate to t heir specific cir cum stances . Thi s pr esentatio n is not, and should not be con str ued as, an of fer o r solicitation to buy or sell gold or any gold related pr oducts . Exp ress ions of opinion ar e those of the Worl d Gold Council on ly and are subject to change witho ut notice. 2 Disclaimer

3 Evaluati ng an Asset T hree key criter ia Tactical - ar e there pro spects of shor t -term gains? Str ategic - does it merit a lon g-term allocation ? P ractical - ar e there any cons traint s, is it l iquid?

4 Gold Pr ice: Recent Hi stor y July 20, 199 9 - $252.80 Apr il 2, 2001 - $255.95 Year end 200 3 - $416.25 Year end 200 5 - $513.00 Year end 200 7 - $833.75 March 17, 2008 - $1,011.25 Year end 20 08 - $869.75

Healt hy internal market dynami cs Declining US dollar Inf lationary concer ns S truggl ing equity m arkets Ri sing geopolitical tens ions 5 Fi ve Key Price Dr ivers

6 Data: GFMS L td. Str ucture of the Gold Market - Above Ground Stocks

7 Data: GFMS L td. Str ucture of the Gold Market - Dem an d

8 Data: GFMS L td. Str ucture of the Gold Market - Supply

9 Reduced Mine Pr oduction

10 Dear th of Major New Disco ver ies

11 Expl oration spending New g old discoveries Ext raction cos ts Min e cons tr uction lead tim es Pr oducer hedgin g and de -hed ging Som e S upply -side I nfluences

Recycled Gold S urges 0 100 200 300 400 500 600 06.Q1 06.Q2 06.Q3 06.Q4 07. Q1 07.Q2 07.Q3 0 7.Q4 08.Q1 08.Q2 08.Q3 08.Q4 09.Q 1 Gold supply - recycled gold ( tonnes) Sour ce: GMF S 12

13 Slower Centr al Banks S ales

14 Sour ce: WGC, I FS as of December 2008 E uropean versus BRI C Coun tries ' Gold Reserv es

15 Possi ble IMF Sales Dilig en t explorati on of poss ible off -market deals with other off icial sector ins tituti ons. T o be carr ied out with in the fr amework of exis ting or poss ible f uture centr al bank sales agreements . Sales to be gr ad ual and spr ead over several years . Remaining 2,800 tonnes to be ring - fenced to end specu lation over poss ible f uture sales. No net addition t o anticipated off icial sect or sales.

Mine pr oduction: No -one predicting any sign ificant incr ease. Recy cl ed scrap: Likely t o remain unp redictable, and will be determined b y price volatil ity and economic need. Of ficial S ect or sales: No r eason t o fear any in cr ease in net sales . 16 Suppl y Summ ar y

No Major Th reat of I ncreased S upply

18 Recor d Gold P rice for Many Consumer s

19 Gold has his torically been u sed as a hed ge again st i nflation . Gold has hist orically been used as a h edg e agains t depr eci at ion of t he dollar. Go ld is cons idered b y many to be a safe haven in tim e of fi nanci al and geopoliti cal s tr ess . Gold has his toricall y been less volatile t han a many other asset cl asses. Gold has his tor ically not cor related with other asset classes , and so has b een used to di vers ify inv es tment portf olios . The S trategic Ar guments

Aver age 22 Day Volatili ty, 1 Augus t 2007 - 30 April 2009(% ) Aver ag e 2 2 Day Volatilit y, 1 Augus t 2007 - 30 April 2009(% ) Oil 53.1 Sil ver 44.7 P alladium 37.5 Nikkei 34.2 GS CI Index 3 3.9 Platin um 32.6 F TSE 30.0 Dow Jones Eur o Sto xx Index 26 .1 Gold 26.1 P rice Volatil ity in P erspecti ve 20

21 Volatilit y - Lower t han You May Thin k

22 Gold is an Ef fective P ortf olio Diver sif ier

Gold as a P ractical Inves tment

24 The Advent of Gold E T Fs

Each shar e represents an undivided benef icial interes t in a T rus t S ole asset of th e T rus t is gold Shares are desi gned to tr ack t he price of g old, less T rus t expenses All but a tiny f raction h el d in allocated account L ondon Good Deli ver y 400 - oz b ar s h el d in HSBC's L ondon vaul t 25 What are GL D Shares?

GLD shares ar e 100% backed by gold T rus t does not enter i nto any deriv at ive transact ions Tr ust's allocated gold cannot be lent to the mar ket Tr ust 's allocated bars are ind ividually i den tified and k ep t segr egat ed from other bar s in the vault 26 Cus tody Ar rangements for the Gold

Tru st do es not d eal di rectly wit h individu al invest ors Inves tors buy and sell on t he NYSE ARCA platf orm Authori zed P articipants ( "AP s") ar e appr oved br oker/dealers APs have gold accounts with HS BC i n Londo n APs handle creations and redempt ions directly wi th the T rus t 27 T he Rol e of Author ized Part icipants

How GLD Gets It s Gold

Annual expenses are 40 bas is points per year of the daily aver age net asset value of t he Tr ust T rus t accrues expenses daily, so that all invest ors pay a fair share T rus t meets expenses by selling a ti ny quantity of gold each mo nth Over ti me, the quantity of gold backi ng each share wil l dimin ish 2 9 What Are the E xpenses?

GLD Sh ar es ar e eli gible for inclus ion in retirement plans* Bul lion inves tments are exempt f rom the "col lect ibles" category in retir ement acco unts provided t wo condition s are m et : minim um puri ty of 99 5 parts per tho usand go ld mus t be held by qu al ified r et irement pl an trus tee Pri vate letter r uling f rom I RS confir ms sui tability of cust odial arr an gem ents 3 0 Reti rement P lans *F or mo re info rmation o n the taxation of GLD, i nvesto rs shoul d refer to the pr ospectus and their advisors .

Bul lion inves tments are not exemp t fr om the "collectibles" categor y for Capi tal Gains tax purposes Long - term Capital Gains on GL D sh ar es ar e t ax ed at 28% L egis lation to cor rect this anomaly i s being introd uced i n Co ngress Bipar tisan suppor t in bo th the House an d Senate GLD shares are eligi ble for margin accounts 31 T ax and Other Cons iderati ons

Dai ly tradin g volume in GL D on th e NYS E ARCA has aver aged 15 mill ion shares o ver the pas t three mo nths GLD has 36 mill ion ounces or 1,132 tonnes of gold in the Tr us t on June 8, 2009 T he value of t his g old was $ 34 billio n GLD eas ily the leader am ong gold - backed E TF s 3 2 Mi lestones Sou rce: Exchange T raded Gold, SSgA Adv isor Consu lting S er vices, Bloo mberg.

33 Gold E TF Holdings Have Grown Dr amatically

Impor tant, but Not the Whole Sto ry

Gold's inv es tment char act er is tics m ak e i t a relevant asset f or a vari et y of in ves tor s, wh et her pri vat e individuals or ins titution s. T he intern al suppl y and demand dynamics may suppor t a case for a tactical allocation to g old. T he ext er nal backgroun d may also supp ort a case f or tactical allo cati on to gold. The diver sif ication characteri sti cs of gold may pr ovide the mos t comp el ling case f or lon ger -term inves tor s. 35 Summar y

It Is Gold 's Ti me.

Shares of GL D trade li ke s tocks , are subject to in ves tment risk and will f luctuate in m ar ket value. St at em en t Regar ding F orward - Lookin g Statements T his d ocu ment includes "forwar d-looking s tatements" which generally r elate to fut ure events or f uture per form an ce. I n so me cases, you can identif y for war d -looking s tatements by ter minology such as "m ay ," "will ," "should," "expect ," "plan," "anticipate," "beli ev e," "est imate," "pr edict," "pot en tial" or the negativ e o f these terms or ot her comparabl e t er minol ogy. All s tatements (oth er than s tatements of his tor ical fact) i ncluded in thi s document that address activ ities , ev ent s or developments that wil l or m ay occur in the f uture, in cl uding such matters as ch ang es in comm odity pr ices and m ar ket conditi ons ( for gold and the S hares) , the T rus t's oper ations , the Sponsor 's plans and ref er ences to t he Tru st's futur e success and ot her s imilar matters are for ward -looking s tatements . Inv es tor s ar e cauti oned that these statements are onl y predictio ns. Actual event s or results may dif fer mater ially. T hese s tatements are based u pon certain assum ptions and analyses the S ponso r made based on its perception of his tori cal t rends , current co nditions and expected fut ure developments , as well as o ther factor s b el ieved ap propr iate in the ci rcumstances . T his document includes "for war d - looking s tatements" which generally r elate to fut ure events or f uture per form an ce. I n some cases , you can identif y for war d -looking s tatements by ter minology such as "m ay ," "will ," "should," "expect ," "plan," "anticipate," "beli ev e," "est imate," "pr edict," "pot en tial" or the negativ e o f these terms or ot her comparabl e t er minol ogy. All s tatements (oth er than s tatements of his tor ical fact) i ncluded in thi s document that address activ ities , ev ent s or developments that wil l or m ay occur in the f uture, in cl uding such matters as ch ang es in comm odity pr ices and m ar ket conditi ons ( for gold and the S hares) , the T rus t's oper ations , the Sponsor 's plans and ref er ences to t he Tru st's futur e success and ot her s imilar matters are for ward -looking s tatements . Inv es tor s ar e cauti oned that these statements are onl y predictio ns. Actual event s or results may dif fer mater ially. T hese s tatements are based u pon certain assum ptions and analyses the S ponso r made based on its perception of his tori cal t rends , current co nditions and expected fut ure developments , as well as o ther factor s b el ieved ap propr iate in the circum stances . 37 Im portant Di sclosure

38 Impor tant Disclosure Whether o r not actual r esult s and develop ments will confo rm to t he Sponsor's expect at ions an d prediction s, however , is subj ect t o a number of risks and uncertaint ies, incl uding, but n ot limi ted to flu ct uat ions in the pr ice o f gold; reductions in th e amo unt of g old repr esented by each Shar e due to the payment o f T rus t expenses and the im pact of the ter mination of the fee r edu ct ion under the Tr ust I ndentur e; purchas ing activity in the gold m ar ket associated wit h the purchase of Bask et s f rom th e T rus t; u nan ticipated operati onal or tr ading pr oblems; the lack of p rotections associated wit h ownership of shar es in an i nvestm ent company regis tered u nder the I nvestm ent Co mpany Act of 1940 or t he protections aff orded by the Co mmodity Exchange Act of 1936; the lack of a market f or the S hares; competition from other m et hods o f inves ting in gold; the im pact of lar ge- scale dis tress sales of gold in times of cr isi s; t he impact of subs tantial sales o f gold b y the off icial sector ; the eff ect of a widenin g of int er est rate diff erentials between the cos t of m oney and the cost of gol d; the loss, dam age, theft or res trictio ns on access to the Tr ust's gold; t he lack of adequate sources of recover y if th e T rus t's gold is los t, damaged, s tolen or destr oyed, includi ng a lack of insur ance; the failur e of gol d bullion al located to the T rus t to meet th e L ondon Go od Delivery S tandards ; the f ai lure of sub - cus todi ans to exer ci se due care in t he safekeeping of the T rus t's g old; the li mited abilit y of the T rus tee and the Cus todian to take legal actio n agai nst sub -cus todi ans ; th e i nsol ven cy of the Cus todian; th e T rus t's obligation to reim burse the Pur chaser and th e Marketi ng Agent fo r certain l iabilities in the event t he Sponsor f ails to indemnif y them; com peting claims over own er sh ip of in tellectual prop er ty ri ghts related to th e T rus t; and o ther factor s i dentifi ed i n the "Ri sk F acto rs" section of the Pr ospectus fi led with the S EC and in ot her fil ings made by the T rus t fr om time t o time with the SE C.

39 Impor tant Disclosure Consequently, all th e f orwar d -looking s tatements made in thi s mater ial are qualif ied by these cau tionary s tatements , and ther e can be no assurance that the actual r esults or developments the Spon sor or Marketin g Agent anticipates will be r eali zed o r, even if subs tantiall y realized, that they wi ll result in the expect ed con sequences to, or have th e expected ef fects o n, the Tr us t's operati ons o r the value of the Shar es . Neither the Sponsor, Mar ket ing Agent nor any other per so n assumes resp onsi bility f or th e accuracy or completeness of the for ward -looking s tatements . Neither t he Tr ust, Mark et ing Agent nor the Spon sor is u nder a duty t o update any of t he forwar d- looking s tatements to conf orm such s tatements to actual results or t o reflect a change in t he S ponsor's or Marketing Agen t's expectations or predictions . T he value of th e S hares relates directly to the value of th e g old held by th e T rus t and f luctuations in t he price of g old could mater ially adversely aff ect an invest ment in the S hares. Inves tors should be aware that t he h ist orical perf ormance of gold as an asset class is not necessaril y indicative of its futur e perfor mance, and there is no assur ance that gold wil l maintain i ts l ong-term value in t erms of pur chasin g power in t he futur e, that gold wi ll be an ef fective hedge agains t inf lation or dollar depr eciations , that the pr ice of gold w ill be less vol at ile than the pr ices of other asset classes , or that gold wi ll be an eff ecti ve tool fo r diver sif ying inv es tment p ortf olios . In th e event that the pri ce of gold declines , the Sp onsor expects t he value of an inves tment i n the Shar es to declin e p ropor tionately.

40 Impor tant Disclosure Shar eholders of t he Gold Tr us t will not have the protectio ns asso ci at ed with ownership of shar es i n an invest ment company r egist er ed under th e I nvest ment Company Act of 1940 or the prot ecti ons af for ded by the Commodi ty Exchange Act of 1936. T he Tr us t is not regis tered as an inves tment company under the I nvestm en t Company Act of 1940 and is not r eq uired to r egis ter under such act. Neither the Sponsor nor the T rus tee is sub ject to regulati on by the CFT C. Sharehol der s will not have th e r egulator y protection s pr ovided to i nvestor s i n CEA -regulated ins tru ments or commod ity pools . T he SPDR( r) Gol d Tr ust has f iled a regis trati on st at em en t (includ ing a prospectus ) with the SE C wi th respect to the SP DR Gold Shar es to which this communicati on relates . Bef ore you i nvest i n SPDR Gold Shares , you should r ead t he prospectus in that regi str ation s tatement and other documents the Issuer has filed wit h the SE C for more complete i nform ation abut th e S PDR Gold S hares. You may get these documents for free by v isit ing E DGAR o n the SE C webs ite at www.sec.gov. Alter natively, the I ssuer or any Author ized Parti ci pant in r espect of the SPDR Gold Shares will ar range to send you the pr osp ectus if you reques t by callin g toll f ree at 1 -866 -320 -4053 or b y co ntacting St at e S treet Glob al Mar ket s, L LC, One L incoln S treet, Attn : SPDR Gold , 30th Fl oor, Bos ton, MA 02111. T he pro spectus contains info rmation abo ut the SP DR G old Tr us t and its Shares which is materi al and/or whi ch may be impor tant to you . You sh ould read th e enti re prospectus , includin g "Risk Factor s" befo re making an in ves tment deci sion abo ut the Shar es .

The "SPDR" trademar k is used un der license from The McGraw -Hill Companies , Inc. and th e S PDR(r ) Gold Tru st i s per mitted to u se the "SP DR" tr adem ark pur suant t o a subl icen se fr om the Marketin g Agent. No f inancial produ ct offer ed by SP DR( r) Gold Tr us t, or i ts af filiates is spo nsor ed, endorsed, sold or p romoted b y The McGraw -Hill Companies , Inc. ( "McGraw -Hill"). McGraw -Hill makes no repr esentation or warr anty, express or imp lied, to the owner s of any fi nan ci al product or any member of the pub lic regardi ng the advisability of inves ting in securi ties gener al ly or i n financial pr oducts particular ly or the ab ility of the index on which financial pr oducts are based t o track general s tock mar ket perf ormance. McGraw -Hill is not r espons ible f or and has not par ticipated in any deter mination o r calculation made wi th respect to is suance or redemption of f inancial produ ct s. McGraw -Hill has no obligati on or li ab ility in co nnect ion with t he adm inis tration , marketing or tr ad ing of f inancial pr oducts. WI THOUT L IMIT ING ANY OF THE FOREGO ING, IN N O EVE NT S HALL McGRAW -HILL HAVE ANY LI ABILI TY F OR ANY SPE CIAL , PUNI TIV E, I NDIRECT , OR CONS EQUE NTI AL DAMAGE S ( INCLUDI NG, BUT NOT LI MITE D T O, LOS T PROFIT S) , EVE N IF NOTI FIE D OF T HE P OSSI BIL IT Y OF SUCH DAMAGE S. Marketed by S tate Street Gl obal Mar kets, L L C, an af fili at e o f State S treet Global A dviso rs . Not FDI C Insured - No Bank Guar antee - May L ose Value 41 Impor tant Disclosure

SPDR® GOLD 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 in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any Authorized Participant will arrange to send you the prospectus if you request it by calling toll free at 1-866-320-4053 or contacting State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR® Gold, 30th Floor, Boston, MA 02111.