Item 8. Financial Statements and Supplementary Data
Item 8.
Financial Statements and Supplementary Data.
Goldman Sachs Physical Gold ETF
Quarterly Statements of Operations
For the years ended December 31, 2022 and 2021
(Unaudited)
Three Months
ended March 31,
2022
Three Months
ended June 30,
2022
Three Months
ended September
30, 2022
Three Months
ended December
31, 2022
Year ended
December 31,
2022
EXPENSES
Custodial Sponsor fee
$
(274,136
)
$
(280,783
)
$
(225,175
)
$
(185,263
)
$
(965,357
)
Total expenses
(274,136
)
(280,783
)
(225,175
)
(185,263
)
(965,357
)
Net investment income (loss)
(274,136
)
(280,783
)
(225,175
)
(185,263
)
(965,357
)
Net realized and unrealized gain (loss)
Net realized gain (loss) on gold bullion distributed for redemptions
8,632,065
15,591,091
(4,334,332
)
(1,417,813
)
18,471,011
Net realized gain (loss) on gold transferred to pay expenses
(22,010
)
(13,257
)
(29,400
)
(23,159
)
(87,826
)
Change in unrealized appreciation (depreciation) on investment in gold
33,232,490
(58,940,816
)
(36,979,756
)
34,399,705
(28,288,377
)
Net realized and unrealized gain (loss) from operations
41,842,545
(43,362,982
)
(41,343,488
)
32,958,733
$
(9,905,192
)
Net increase in net assets resulting from operations
$
41,568,409
$
(43,643,765
)
$
(41,568,663
)
$
32,773,470
$
(10,870,549
)
Three Months
ended March 31,
2021
Three Months
ended June 30,
2021
Three Months
ended September
30, 2021
Three Months
ended December
31, 2021
Year ended
December 31,
2021
EXPENSES
Custodial Sponsor fee
$
(171,799
)
$
(158,782
)
$
(172,760
)
$
(188,415
)
$
(691,756
)
Total expenses
(171,799
)
(158,782
)
(172,760
)
(188,415
)
(691,756
)
Net investment income (loss)
(171,799
)
(158,782
)
(172,760
)
(188,415
)
(691,756
)
Net realized and unrealized gain (loss)
Net realized gain (loss) on gold bullion distributed for redemptions
47,462,394
—
—
—
47,462,394
Net realized gain (loss) on gold transferred to pay expenses
(17,064
)
(19,046
)
(2,352
)
(25,631
)
(64,093
)
Change in unrealized appreciation (depreciation) on investment in gold
(89,908,308
)
12,389,389
(4,914,001
)
17,918,051
(64,514,869
)
Net realized and unrealized gain (loss) from operations
(42,462,978
)
12,370,343
(4,916,353
)
17,892,420
$
(17,116,568
)
Net increase (decrease) in net assets resulting from operations
$
(42,634,777
)
$
12,211,561
$
(5,089,113
)
$
17,704,005
$
(17,808,324
)
46
Table of Contents
Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
There have been no disagreements with accountants on any matter of accounting principles or practices or financial statement disclosures during the last two fiscal years.
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