Central GoldTrust

Tuesday October 25, 2011

Central GoldTrust (symbol: TSX - GTU.UN (Cdn.$) and GTU.U (U.S.$) NYSE Amex - GTU (U.S.$)) has today released selected financial information in U.S. dollars relating to results of operations for the nine months ended September 30, 2011.

CENTRAL GOLDTRUST STATEMENTS OF NET ASSETS (expressed in U.S. dollars, unaudited) Net assets:

September 30 December 31

2011 2010

Gold at market $ 989,547,840 861,425,828

Cash and short-term deposits 13,508,009 16,388,542

Prepaid expenses and other 154,094 91,399

1,003,209,943 877,905,769

Accrued liabilities (551,032) (819,113)

Net assets representing Unitholders' equity $ 1,002,658,911 877,086,656 Represented by:

Capital

Units issued: 16,648,000 $ 572,667,949 572,667,949

Retained earnings

inclusive of unrealized appreciation of holdings 429,990,962 304,418,707

$ 1,002,658,911 877,086,656

Net asset value per Unit $ 60.23 52.68 Exchange rate: U.S. $1.00 = Cdn. $ 1.0389 0.9946 Net asset value per Unit expressed in Canadian dollars $ 62.57 52.40

The change in net assets as reported in U.S. dollars, which will occur from period to period, will primarily be a result of the changing market price of gold and the proportion of gold held by the Trust.

Net assets increased by $69.0 million or 7.4% during the three months ended September 30, 2011, to a total of $1,002.7 million. This increase was attributable to the 7.6% increase in the price of gold during the period.

Net assets increased by $125.6 million or 14.3% during the nine months ended September 30, 2011 as a result of the 14.9% increase in the price of gold during the period.

Box 10106, Meadowlands P.O., Ancaster, Ontario Canada L9K 1P3 Tel: (905) 304-GOLD(4653) Fax: (905) 648-4196

Courier Address: 55 Broad Leaf Crescent Ancaster, Ontario L9G 3P2 Website: www.gold-trust.com E-mail: info@gold-trust.com

Income:

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CENTRAL GOLDTRUST STATEMENTS OF INCOME (expressed in U.S. dollars, unaudited)

Nine months ended Sept. 30, Three months ended Sept. 30,

2011 2010 2011 2010

Interest $ 31,456 13,985 $ 9,904 10,672
Change in unrealized appreciation

of holdings 128,085,959 95,909,013 69,878,690 38,511,478

Total income 128,117,415 95,922,998 69,888,594 38,522,150 Expenses:

Administration fees 1,403,369 917,030 506,020 391,721
Safekeeping fees and bank charges 764,363 405,589 287,366 178,081
Auditors' fees 92,756 63,745 30,041 18,348
Trustees' fees and expenses 78,347 51,689 34,928 16,983
Legal fees 61,311 92,006 25,936 25,805
Stock exchange fees 44,493 34,658 14,831 11,553
Unitholder information 41,698 41,569 4,374 5,893
Regulatory filing fees 34,859 32,940 11,311 11,978
Registrar and transfer agent fees 23,048 11,764 13,747 4,427
Miscellaneous 257 754 23 18

Foreign currency exchange loss 659 1,969 - -

Total expenses 2,545,160 1,653,713 928,577 664,807 Net income

inclusive of the change in unrealized
appreciation of holdings $125,572,255 94,269,285 $ 68,960,017 37,857,343

Net income per Unit

inclusive of the change in unrealized
appreciation of holdings $ 7.54 7.24 $ 4.14 2.27
Net income (inclusive of the change in unrealized appreciation of holdings) for the three months ended September 30, 2011 was $69.0 million ($4.14 per Unit) compared to $37.9 million ($2.27 per Unit) for the comparative period in 2010. For the nine months ended September 30, 2011, the net income (inclusive of the change in unrealized appreciation of holdings) was $125.6 million ($7.54 per Unit) compared to $94.3 million ($7.24 per Unit) for the same period in 2010. Virtually all of the reported net income for the three and nine month periods was a result of the change in unrealized appreciation of gold holdings of 7.6% and 14.9% respectively, which is not distributable income. Interest income currently forms a nominal portion of the Trust's income. Certain expenses, such as administration fees and safekeeping fees, have varied in relation to net asset levels. Administration fees, which are scaled, are calculated monthly based on net assets at each month-end, increased by $114,299 and $486,339 respectively, during the three and nine month periods ended September 30, 2011 as compared to the similar periods in 2010. The increase in administration fees was a direct result of the higher level of net assets under administration.
Expenses as a percentage of the average of the month-end net assets (the "expense ratio") for the three month periods ended September 30, 2011 and 2010 remained unchanged at 0.09%. The expense ratio for the nine- month periods ended September 30, 2011 and 2010 remained unchanged at 0.27%. For the twelve month period ended September 30, 2011, the expense ratio was 0.35% compared to 0.36% for the twelve month period ended September 30, 2010.
Central GoldTrust is a passive, self-governing, single purpose trust, which invests primarily in long-term holdings of gold bullion and does not speculate in gold prices. At September 30, 2011, the Units of Central GoldTrust were 98.7% invested in unencumbered, allocated, segregated gold bullion. Units may be purchased or sold on The Toronto Stock Exchange and the NYSE Amex.
Central GoldTrust has filed their Annual Report on Form 40-F with the United States Securities Exchange Commission, which includes the financial statements for the year ended December 31, 2010. A copy of the Form 40-F is available on Central GoldTrust's website at www.gold-trust.com. Unitholders may request a printed copy of the complete audited financial statements, free of charge, by email to info@gold-trust.comor by regular mail to Central GoldTrust, P.O. Box 10106, Ancaster, Ontario L9K 1P3, and are also available electronically at www.sedar.com.
For further information, contact J.C. Stefan Spicer, President & CEO;
Email: info@gold-trust.comWebsite: www.gold-trust.com; Telephone: 905-304-GOLD (4653).