48 unchanged sentences
Fee through in-kind transfers of gold to the Sponsor.
−Removed: On September 30, 2022 the Trust did not have any cash balances.
+Added: At March 31, 2020 the Trust did not have any cash balances.
Sheet Arrangements
10 unchanged sentences
of Operations
−Removed: Quarter Ended September 30, 2022
−Removed: The Trust’s net asset value decreased from $996,127,089 on June 30,
−Removed: 2022 to $831,600,612 on September 30, 2022, a 16.5% decrease.
−Removed: The decrease in the Trust’s net asset value was due to a decrease
−Removed: in the number of shares outstanding from 55,300,000 to 50,200,000 over this period.
−Removed: The net 5,100,000 shares decrease was a result of
−Removed: 102 redemption orders (50,000 shares per creation and redemption).
−Removed: There were no creation orders over the period.
−Removed: The Trust’s net
−Removed: asset value was also negatively impacted by the change in the price of gold, which decreased 7.99% from $1,817.00 on June 30, 2022 to
−Removed: $1,671.75 on September 30, 2022.
−Removed: The 8.00% decrease in the Trust’s net asset value per share, from
−Removed: 18.01 at June 30, 2022 to $16.57 at September 30, 2022 is directly related to the 7.99% decrease in the price of gold.
−Removed: The Trust’s net asset value per share decreased slightly more than
−Removed: the price of gold on a percentage basis due to the Sponsor’s fees, which were $395,613 for the quarter, or 0.044% of the Trust’s
−Removed: average weighted net assets of $897,298,743 during the quarter.
−Removed: The net asset value per share of $17.82 on July 01, 2022, was the highest
−Removed: during the quarter, compared with a low during the quarter of $16.19 on September 27, 2022.
−Removed: Net decrease in net assets resulting from operations for the quarter ended
−Removed: September 30, 2022 was $77,163,833, resulting primarily from an unrealized loss on investment in gold bullion of $83,927,068, reduced
−Removed: by a gain of $7,158,848 on metal sold to cover redemption orders and Sponsor’s fees but increased by the Sponsor’s fees of
+Added: Quarter Ended December 31, 2022
+Added: Trust’s net asset value increased from $831,600,612 on September 30, 2022 to $886,788,722 on December 31, 2022, a 6.6% increase.
+Added: The increase in the Trust’s net asset value over this period was due to the change in gold price, which increase by 8.41%, from
+Added: from $1,671.75 on September 30, 2022 to $1,812.35 on December 30, 2022.
+Added: The positive impact of the gold price on the Trust’s net
+Added: asset value was reduced by the change in the number of shares outstanding from 50,200,000 to 49,400,000, a 1.6% decrease.
+Added: shares decrease was the net result of 32 creation orders and 48 redemption orders (50,000 shares per creation and redemption order).
+Added: 8.33% increase in the Trust’s net asset value per share, from $16.57 on September 30, 2022 to $17.95 on December 31, 2022 is directly
+Added: related to the 8.41% increase in the price of gold.
+Added: Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s
+Added: fees, which were $378,312 for the quarter, or 0.044% of the Trust’s average weighted net assets of $858,786,696 during the quarter.
+Added: The net asset value per share of $18.06 on December 13, 2022 was the highest during the quarter, compared with a low during the quarter
+Added: of $16.14 on November 03, 2022.
+Added: increase in net assets resulting from operations for the quarter ended December 31, 2022 was $69,780,777, resulting from an unrealized
+Added: gain on investment in gold bullion of $66,572,091, a gain of $3,586,998 on metal sold to cover the redemption orders and the Sponsor’s
+Added: fees but reduced by the Sponsor’s fees of $378,312.
Other than the Sponsor’s fees the Trust had no expenses during the quarter.
+Added: Months Ended December 31, 2022
+Added: Trust’s net asset value decreased from $996,127,089 on June 30, 2022 to $886,788,722 on December 31, 2022, a 11.0% decrease.
+Added: decrease in the Trust’s net asset value over this period was due to a reduction in the number of shares outstanding from 55,300,000
+Added: to 49,400,000, a 10.7% decrease.
+Added: The 5,900,000 shares decrease was the net result of 32 creation orders and 150 redemption orders (50,000
+Added: shares per creation and redemption order).
+Added: The impact of the net redemption activity on the Trust’s net asset value was increased
+Added: by the negative change in the price of gold, which decerased by 0.26% from $1,817.00 on June 30, 2022 to $1,812.35 on December 31, 2022.
+Added: 0.33% decrease in the Trust’s net asset value per share, from $18.01 at June 30, 2022 to $17.95 at December 31, 2022 is directly
+Added: related to the 0.26% decrease in the price of gold.
+Added: Trust’s net asset value per share decreased slightly more than the price of gold on a percentage basis due to the Sponsor’s
+Added: fees, which were $773,925 for the period, or 0.088% of the Trust’s average weighted net assets of $877,147,639 during the six-month
+Added: The net asset value per share of $18.06 on December 13, 2022 was the highest during the period, compared with a low during the
+Added: quarter of $16.14 on November 03, 2022.
+Added: decrease in net assets resulting from operations for the 6 months period ending December 31, 2022 was $7,383,056, resulting from an unrealized
+Added: loss on investment in gold bullion of $17,354,977, reduced by a gain of $10,745,846 on metal sold to cover the redemption orders and
+Added: the Sponsor’s fees but reduced by the Sponsor’s fees of $773,925.
+Added: Other than the Sponsor’s fees the Trust had no expenses
+Added: during the quarter.
Quantitative and Qualitative Disclosures About Market Risk
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.