1 unchanged sentence
of Assets and Liabilities
−Removed: September 30, 2021 (unaudited) and June 30, 2021
+Added: December 31, 2021 (unaudited) and June 30, 2021
Amounts in 000’s of US$, except share and per share data
−Removed: September 30, 2021
+Added: December 31, 2021
June 30, 2021
9 unchanged sentences
of Investments
−Removed: September 30, 2021 (unaudited) and June 30, 2021
+Added: December 31, 2021 (unaudited) and June 30, 2021
in 000’s of US$, except for ounces and percentages
−Removed: September 30, 2021 (unaudited)
+Added: December 31, 2021 (unaudited)
Total investment
5 unchanged sentences
of Operations (Unaudited)
−Removed: the three months ended September 30, 2021 and 2020
+Added: the six and three months ended December 31, 2021 and 2020
Amounts in 000’s of US$, except per share data
−Removed: Three Months Ended September 30, 2021 (unaudited)
−Removed: Three Months Ended September 30, 2020 (unaudited)
+Added: December 31, 2021
+Added: December 31, 2020
+Added: December 31, 2021
+Added: December 31, 2020
Total expenses
Net investment loss
−Removed: Net realized and unrealized gains (losses)
+Added: Net realized and unrealized gains (loss)
Net realized gain (loss) from:
9 unchanged sentences
of Changes in Net Assets (unaudited)
−Removed: the three months ended September 30, 2021 and 2020 (unaudited)
+Added: the three and six months ended December 31, 2021 and 2020
Amounts in 000’s of US$
−Removed: Three Months Ended September 30, 2021 (unaudited)
−Removed: Three Months Ended September 30, 2020 (unaudited)
+Added: December 31, 2021
+Added: December 31, 2020
+Added: December 31, 2021
+Added: December 31, 2020
Net Assets – beginning of the period
−Removed: Creations of 2,850,000 and 10,050,000 shares respectively
−Removed: Redemptions of 300,000 and 400,000 shares respectively
+Added: Creation of 700,000 , 2,400,000 , 3,550,000 and 12,450,000 shares respectively
+Added: Redemption of 10,400,000 , 12,100,000 , 10,700,000 and 12,500,000 shares respectively
Net investment loss
−Removed: Net realized gain (loss) gold bullion sold to pay expenses
−Removed: Net realized gain (loss) from gold bullion distributed for redemptions
+Added: Net realized gain (loss) from gold bullion sold to pay expenses
+Added: Net realized gain (loss) from gold bullion distributed for redemption
Net change in unrealized appreciation (depreciation) on investment in gold bullion
2 unchanged sentences
Highlights (Unaudited)
−Removed: the three months ended September 30, 2021 and 2020
−Removed: Share Performance
−Removed: a Share outstanding throughout the entire period)
−Removed: Months Ended September 30, 2021
−Removed: Months Ended September 30, 2020
+Added: the three and six months ended December 31, 2021 and 2020
+Added: Per Share Performance
+Added: (for a Share outstanding throughout each period)
+Added: December 31, 2021
+Added: December 31, 2020
+Added: December 31, 2021
+Added: December 31, 2020
Net asset value per Share at beginning of period
−Removed: investment gain (loss) (1)
+Added: Net investment gain (loss) (1)
Net realized and unrealized gain (loss) on investment in gold bullion
1 unchanged sentence
Net asset value per Share at end of period
−Removed: Total return ratio, at net asset value (2)
+Added: Total return, at net asset value (2)
Net assets ($000’s)
15 unchanged sentences
means of making an investment similar to an investment in gold.
−Removed: February 26, 2019, the Trust announced a 10-for-1 Share split for all shareholders of record as of March 7, 2019.
−Removed: The ticker symbol for
−Removed: the Trust did not change, and the Trust continues to trade on the NYSE Arca.
−Removed: The split was applied retroactively for all periods presented,
−Removed: increasing the number of Shares outstanding for the Trust, and resulted in a proportionate decrease in the price per Share and per Share
−Removed: information of the Trust.
−Removed: Therefore, the split did not change the aggregate net asset value of a shareholder’s investment at the
−Removed: time of the split.
fiscal year end for the Trust is June 30.
46 unchanged sentences
legal expenses.
−Removed: of period ended September 30, 2021, the fees payable to the Sponsor were $ 152,079 .
−Removed: As of year ended June 30, 2021, the fees payable to
−Removed: the Sponsor were $ 153,517 .
+Added: of December 31, 2021, the fees payable to the Sponsor were $ 131,299 .
+Added: As of June 30, 2021, the fees payable to 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 ended September 30, 2021 and 2020.
+Added: Other than the Sponsor’s Fee, the Trust had no expenses during the three and six months ended June 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 September 30, 2021 and June 30, 2021.
+Added: that no reserves for uncertain tax positions are required as of December 31, 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 September 30, 2021, the 2020, 2019
−Removed: and 2018 tax years remain open for examination.
Emerging Growth Company qualification
−Removed: Trust is an “emerging growth company” as defined in the JOBS Act, and as such, is permitted to meet reduced public company
−Removed: reporting requirements.
+Added: of June 30, 2021, the Trust no longer qualifies as an emerging growth company.
Investment in gold
−Removed: in ounces of gold and their respective values for the period ended September 30, 2021:
+Added: in ounces of gold and their respective values for the six months ended December 31, 2021.
Schedule of Investment in Gold
5 unchanged sentences
Change in unrealized appreciation (depreciation)
−Removed: Ending balance as of September 30, 2021
+Added: Ending balance as of December 31, 2021
in ounces of gold and their respective values for the fiscal year ended June 30, 2021.
57 unchanged sentences
Subsequent events
−Removed: has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items
−Removed: requiring adjustment of the financial statements or additional disclosures.
+Added: Management has evaluated the events and transactions
+Added: that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements
+Added: or additional disclosures.
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.