1 unchanged sentence
of Assets and Liabilities
−Removed: December 31, 2021 (unaudited) and June 30, 2021
+Added: March 31, 2022 (unaudited) and June 30, 2021
Amounts in 000’s of US$, except share and per share data
−Removed: December 31, 2021
+Added: March 31, 2022
June 30, 2021
9 unchanged sentences
of Investments
−Removed: December 31, 2021 (unaudited) and June 30, 2021
+Added: March 31, 2022 (unaudited) and June 30, 2021
in 000’s of US$, except for ounces and percentages
−Removed: December 31, 2021 (unaudited)
+Added: March 31, 2022 (unaudited)
Total investment
5 unchanged sentences
of Operations (unaudited)
−Removed: the six and three months ended December 31, 2021 and 2020
+Added: the three and nine months ended March 31, 2022 and 2021
Amounts in 000’s of US$, except per share data
−Removed: December 31, 2021
−Removed: December 31, 2020
−Removed: December 31, 2021
−Removed: December 31, 2020
+Added: March 31, 2022
+Added: March 31, 2021
Total expenses
Net investment loss
−Removed: Net realized and unrealized gains (loss)
+Added: Net realized and unrealized gain (loss)
Net realized gain (loss) from:
1 unchanged sentence
Gold bullion distributed for the redemption of Shares
−Removed: Net realized gain (loss)
+Added: Net realized gain
Net change in unrealized appreciation (depreciation)
+Added: $ ( 127,177 )
+Added: $ ( 106,621 )
Net realized and unrealized gain (loss)
+Added: $ ( 121,851 )
Net increase (decrease) in net assets resulting from operations
+Added: $ ( 122,319 )
Net increase (decrease) in net assets per share
2 unchanged sentences
of Changes in Net Assets (unaudited)
−Removed: the three and six months ended December 31, 2021 and 2020
+Added: the three and nine months ended March 31, 2022 and 2021
Amounts in 000’s of US$
−Removed: December 31, 2021
−Removed: December 31, 2020
−Removed: December 31, 2021
−Removed: December 31, 2020
+Added: Three Months Ended
+Added: Three Months Ended
+Added: Nine Months Ended
+Added: March 31, 2022
+Added: Nine Months Ended
+Added: March 31, 2021
Net Assets – beginning of the period
−Removed: Creation of 700,000 , 2,400,000 , 3,550,000 and 12,450,000 shares respectively
−Removed: Redemption of 10,400,000 , 12,100,000 , 10,700,000 and 12,500,000 shares respectively
+Added: Creations of 3,850,000 , 3,350,000 , 7,400,000 and 15,800,000 shares respectively
+Added: Redemptions of 0 , 2,650,000 , 10,700,000 and 15,150,000 shares respectively
Net investment loss
5 unchanged sentences
Highlights (unaudited)
−Removed: the three and six months ended December 31, 2021 and 2020
+Added: the three and nine months ended March 31, 2022 and 2021
Per Share Performance
(for a Share outstanding throughout each period)
−Removed: December 31, 2021
−Removed: December 31, 2020
−Removed: December 31, 2021
−Removed: December 31, 2020
+Added: March 31, 2022
+Added: March 31, 2021
Net asset value per Share at beginning of period
−Removed: Net investment gain (loss) (1)
+Added: Net investment loss (1)
Net realized and unrealized gain (loss) on investment in gold bullion
67 unchanged sentences
legal expenses.
−Removed: of December 31, 2021, the fees payable to the Sponsor were $ 131,299 .
+Added: of March 31, 2022, the fees payable to the Sponsor were $ 152,722 .
As of June 30, 2021, the fees payable to the Sponsor were $ 153,517 .
3 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 and six months ended June 30, 2021 and 2020.
+Added: Other than the Sponsor’s Fee, the Trust had no expenses during the three months and nine months ended March 31, 2022 and 2021.
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 December 31, 2021 and June 30, 2021.
+Added: that no reserves for uncertain tax positions are required as of March 31, 2022 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: Emerging Growth Company qualification
−Removed: of June 30, 2021, the Trust no longer qualifies as an emerging growth company.
+Added: As of March 31, 2022, the 2021, 2020 and
+Added: 2019 tax years remain open for examination.
Investment in gold
−Removed: in ounces of gold and their respective values for the six months ended December 31, 2021.
+Added: in ounces of gold and their respective values for the nine months ended March 31, 2022.
Schedule of Investment in Gold
5 unchanged sentences
Change in unrealized appreciation (depreciation)
−Removed: Ending balance as of December 31, 2021
+Added: Ending balance as of March 31, 2022
in ounces of gold and their respective values for the fiscal year ended June 30, 2021.
57 unchanged sentences
Subsequent events
−Removed: Management has evaluated the events and transactions
−Removed: that have occurred through the date the financial statements were issued and noted no items requiring adjustment of the financial statements
−Removed: or additional disclosures.
+Added: has evaluated the events and transactions that have occurred through the date the financial statements were issued and noted no items
+Added: requiring adjustment of the financial statements 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.