You own shares in an investment trust not actualy gold - this doesn't necessarily make it a bad investment, just something to be aware of. For example if everything turned even worse you have shares in the trust which may or may not translate into actual gold
StreetTRACKS Gold Trust (started in 2004) is an investment trust. The Trust holds gold and issues streetTRACKS Gold Shares in blocks of 100,000 Shares (Baskets) in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion. Originally, the details of buying, storing and insuring gold have made it difficult for most investors to enter the gold market on their own. StreetTRACKS Gold Trust solves this issue by creating securities that follow the gold market. The Trust is sponsored by World Gold Trust Services, LLC. HSBC Holdings (HBC) holds StreetTRACKS's gold.