SPDR Gold Shares (GLD) Source: Ewa Studio / Shutterstock.com The SPDR Gold Shares ETF (NYSEARCA:GLD) claims to be the largest physically backed gold ETF in the world. The GLD ETF tracks the price of gold measured in U.S. dollars and keeps its physical gold holdings in London, England under the custody of a major British bank. Overall, gold prices have strengthened this year thanks to worries about a potential global economic recession, uncertainty over inflation and the direction of interest rates.