10 unchanged sentences
of gold) since inception:
+Added: The LBMA Gold Price benchmark is administered and licensed by ICE Benchmark Administration Limited (IBA).
+Added: The LBMA Gold Price benchmark displayed on this website is provided for information purposes only and may not be copied, distributed or used for any other purpose, commercial or otherwise.
Bloomberg, LBMA Gold Price PM USD versus AAAU NAV Index, August 15, 2018 – December 31, 2024
8 unchanged sentences
New York City time.
−Removed: The Net Asset Value of the Trust is the aggregate value of gold and other assets, if any, of the Trust (other
−Removed: than any amounts credited to the Trust’s reserve account, if any) including cash, if any, less liabilities of the Trust, which include estimated accrued but unpaid fees, expenses and other liabilities.
+Added: The Net Asset Value of the Trust is the aggregate value of gold and other assets, if any, of the Trust (other than any amounts credited to the Trust’s reserve account, if any) including cash, if any, less liabilities of the Trust, which include estimated accrued but unpaid fees, expenses and other liabilities.
In determining the Trust’s Net Asset Value, the Trustee values the gold held by the Trust based on the LBMA Gold Price PM.
The LBMA Gold Price PM is set at 3:00 p.m.
−Removed: London time via an auction independently operated and administered by ICE Benchmark Administration (“IBA”).
+Added: London time via an auction
+Added: independently operated and administered by ICE Benchmark Administration (“IBA”).
The price is set in U.S.
6 unchanged sentences
Beginning balance as of December 31, 2023
−Removed: Gold bullion contributed
−Removed: Gold bullion distributed
Net realized gain (loss) from gold bullion distributed for redemptions
Transfers of gold to pay expenses
−Removed: Net realized gain (loss) from gold transferred to pay expenses
−Removed: Change in unrealized appreciation (depreciation) on investment in gold bullion
+Added: Net realized gain (loss) from gold sold to pay expenses
+Added: Change in unrealized appreciation (depreciation) on investment in gold
Ending balance as of December 31, 2024
10 unchanged sentences
$594,100,397) based on the LBMA AM Gold Price at period end.
−Removed: The change in net assets from operations for the year ended December 31, 2023 was $56,397,249, which was due to (i) the Sponsor Fee of $(1,035,138) and (ii) a net realized and unrealized gain of $57,432,387 from operations,
−Removed: which in turn resulted from a net realized loss on gold transferred to pay expenses of $(35,485), net realized gain from gold bullion distributed for redemptions of $5,466,766 and a net change in unrealized appreciation/depreciation on investments in gold bullion of $52,001,106.
+Added: The change in net assets from operations for the year ended December 31, 2024 was $162,054,699, which was due to (i) the Sponsor Fee of $(1,355,299) and (ii) a net realized and unrealized gain of $163,409,998 from operations, which in turn resulted from a net realized loss on gold sold to pay expenses of $(5,039), net realized gain from gold bullion distributed for redemptions of $14,284,935 and a net change in unrealized appreciation on investments in gold bullion of $149,130,102.
Other than the Sponsor Fee, the Trust had no expenses during the year ended December 31, 2024.
−Removed: The change in net assets from operations for the year ended December 31, 2022 was $(10,870,549), which was due to (i) the Sponsor Fee of $(965,357) and (ii) a net realized and unrealized loss of $(9,905,192) from operations, which in turn resulted from a net realized loss on gold transferred to pay expenses of $(87,826), a net realized gain from gold bullion distributed for redemptions of $18,471,011 and a net change in unrealized appreciation/depreciation on investments in gold bullion of $(28,288,377).
+Added: The change in net assets from operations for the year ended December 31, 2023 was $56,397,249, which was due to (i) the Sponsor Fee of $(1,035,138) and (ii) a net realized and unrealized gain of $57,432,387 from operations, which in turn resulted from a net realized loss on gold sold to pay expenses of $(35,485), a net realized gain from gold bullion distributed for redemptions of $5,466,766 and a net change in unrealized appreciation on investments in gold bullion of $52,001,106.
Other than the Sponsor Fee, the Trust had no expenses during the year ended December 31, 2023.
+Added: A comparison of the fiscal years ended December 31, 2023 and 2022 can be found in the Trust’s annual report on Form 10-K for the fiscal year ended December 31, 2023 located within Part II, Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations, which is incorporated by reference herein.
Liquidity and Capital Resources
12 unchanged sentences
dollars per ounce over the period from January 1, 2024 to December 31, 2024.
+Added: The LBMA Gold Price benchmark is administered and licensed by ICE Benchmark Administration Limited (IBA).
+Added: The LBMA Gold Price benchmark displayed on this website is provided for information purposes only and may not be copied, distributed or used for any other purpose, commercial or otherwise.
Daily gold price — January 1, 2024 to December 31, 2024
1 unchanged sentence
The average, high, low and end-of-period gold prices for each quarterly period from January 1, 2024 through December 31, 2024, based on the LBMA PM Gold Price were:
−Removed: Last business
October 1, 2024 to December 31, 2024
7 unchanged sentences
Numbers provided are from LBMA AM Gold Price on December 31, 2024, the last price recorded for the fiscal year.
+Added: Quantitative and Qualitative Disclosures About Market Risk.
+Added: The Trust is a passive investment vehicle.
+Added: It is not actively managed.
+Added: The Trust’s investment objective is for the Shares to reflect the performance of the price of gold less the expenses of the Trust’s operations.
+Added: Accordingly, fluctuations in the price of gold will affect the value of the Trust’s Shares.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.