1 unchanged sentence
of Assets and Liabilities
−Removed: March 31, 2021 (unaudited) and June 30, 2020
+Added: September 30, 2021 (unaudited) and June 30, 2021
Amounts in 000’s of US$, except share and per share data
−Removed: March 31, 2021
+Added: September 30, 2021
June 30, 2021
9 unchanged sentences
of Investments
−Removed: March 31, 2021 (unaudited) and June 30, 2020
+Added: September 30, 2021 (unaudited) and June 30, 2021
in 000’s of US$, except for ounces and percentages
−Removed: March 31, 2021 (unaudited)
+Added: September 30, 2021 (unaudited)
Total investment
5 unchanged sentences
of Operations (Unaudited)
−Removed: the three and nine months ended March 31, 2021 and 2020
+Added: the three months ended September 30, 2021 and 2020
Amounts in 000’s of US$, except per share data
−Removed: March 31, 2021
−Removed: March 31, 2020
−Removed: March 31, 2021
−Removed: March 31, 2020
+Added: Three Months Ended September 30, 2021 (unaudited)
+Added: Three Months Ended September 30, 2020 (unaudited)
Total expenses
Net investment loss
−Removed: Net realized and unrealized gain (loss)
+Added: Net realized and unrealized gains (losses)
Net realized gain (loss) from:
1 unchanged sentence
Gold bullion distributed for the redemption of Shares
−Removed: Net realized gain
+Added: Net realized gain (loss)
Net change in unrealized appreciation (depreciation)
−Removed: $ ( 127,177 )
−Removed: $ ( 106,621 )
Net realized and unrealized gain (loss)
−Removed: $ ( 121,851 )
Net increase (decrease) in net assets resulting from operations
−Removed: $ ( 122,319 )
Net increase (decrease) in net assets per share
2 unchanged sentences
of Changes in Net Assets (Unaudited)
−Removed: the three and nine months ended March 31, 2021 and 2020
+Added: the three months ended September 30, 2021 and 2020 (unaudited)
Amounts in 000’s of US$
−Removed: Three Months Ended March 31, 2021
−Removed: Three Months Ended March 31, 2020
−Removed: Nine Months Ended March 31, 2021
−Removed: Nine Months Ended March 31, 2020
+Added: Three Months Ended September 30, 2021 (unaudited)
+Added: Three Months Ended September 30, 2020 (unaudited)
Net Assets – beginning of the period
−Removed: Creation of 3,350,000 , 10,050,000 , 15,800,000 and 12,550,000 shares respectively
−Removed: Redemption of 2,650,000 , 900,000 , 15,150,000 and 3,150,000 shares respectively
+Added: Creations of 2,850,000 and 10,050,000 shares respectively
+Added: Redemptions of 300,000 and 400,000 shares respectively
Net investment loss
−Removed: Net realized gain gold bullion sold to pay expenses
−Removed: Net realized gain from gold bullion distributed for redemption
−Removed: Net Change in unrealized appreciation (depreciation) in investment in gold bullion
+Added: Net realized gain (loss) gold bullion sold to pay expenses
+Added: Net realized gain (loss) from gold bullion distributed for redemptions
+Added: Net change in unrealized appreciation (depreciation) on investment in gold bullion
Net Assets – end of period
1 unchanged sentence
Highlights (Unaudited)
−Removed: the three and nine months ended March 31, 2021 and 2020
−Removed: Per Share Performance
−Removed: (for a Share outstanding throughout each period)
−Removed: March 31, 2021
−Removed: March 31, 2020
−Removed: March 31, 2021
−Removed: March 31, 2020
+Added: the three months ended September 30, 2021 and 2020
+Added: Share Performance
+Added: a Share outstanding throughout the entire period)
+Added: Months Ended September 30, 2021
+Added: Months Ended September 30, 2020
Net asset value per Share at beginning of period
−Removed: Net investment loss (1)
−Removed: Net realized and unrealized gain (loss) on investment in gold
+Added: investment gain (loss) (1)
+Added: Net realized and unrealized gain (loss) on investment in gold bullion
Net change in net assets from operations
Net asset value per Share at end of period
−Removed: Total return, at net asset value (2)
+Added: Total return ratio, at net asset value (2)
Net assets ($000’s)
71 unchanged sentences
legal expenses.
−Removed: of March 31, 2021, the fees payable to the Sponsor were $ 152,658 .
−Removed: As of June 30, 2020, the fees payable to the Sponsor were $ 140,674 .
+Added: of period ended September 30, 2021, the fees payable to the Sponsor were $ 152,079 .
+Added: As of year ended June 30, 2021, the fees payable to
+Added: the Sponsor were $ 153,517 .
respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,
2 unchanged sentences
the smallest amounts of gold needed to pay these expenses in order to minimize the Trust’s holdings of assets other than gold.
−Removed: Other than the Sponsor’s Fee, the Trust had no expenses during the three months and nine months ended March 31, 2021 and 2020.
+Added: Other than the Sponsor’s Fee, the Trust had no expenses during the three months ended September 30, 2021 and 2020.
otherwise directed by the Sponsor, when selling gold the Trustee will endeavor to sell at the price established by the LBMA PM Gold Price.
50 unchanged sentences
Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined
−Removed: that no reserves for uncertain tax positions are required as of March 31, 2021 and June 30, 2020.
+Added: that no reserves for uncertain tax positions are required as of September 30, 2021 and June 30, 2021.
Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether
4 unchanged sentences
years are those years that are open for examination by the relevant income taxing authority.
−Removed: As of March 31, 2021, the 2020, 2019 and
−Removed: 2018 tax years remain open for examination.
+Added: As of September 30, 2021, the 2020, 2019
+Added: and 2018 tax years remain open for examination.
Emerging Growth Company qualification
2 unchanged sentences
Investment in gold
−Removed: in ounces of gold and their respective values for the nine months ended March 31, 2021.
+Added: in ounces of gold and their respective values for the period ended September 30, 2021:
Schedule of Investment in Gold
4 unchanged sentences
( 3,234.470 )
−Removed: Change in unrealized depreciation
−Removed: Ending balance as of March 31, 2021
+Added: Change in unrealized appreciation (depreciation)
+Added: Ending balance as of September 30, 2021
in ounces of gold and their respective values for the fiscal year ended June 30, 2021:
4 unchanged sentences
( 181,483.018 )
−Removed: Change in unrealized appreciation
+Added: Change in unrealized appreciation (depreciation)
Ending balance as of June 30, 2021
53 unchanged sentences
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.