1 unchanged sentence
of Assets and Liabilities
−Removed: September 30, 2024 (unaudited) and June 30, 2024
+Added: December 31, 2024 (unaudited) and June 30, 2024
Amounts in 000’s of US$, except share and per share data
−Removed: September 30, 2024
−Removed: June 30, 2024
+Added: December 31, 2024
Investment in gold bullion, at fair value (1)
8 unchanged sentences
of Investments
−Removed: September 30, 2024 (unaudited) and June 30, 2024
+Added: December 31, 2024 (unaudited) and June 30, 2024
in 000’s of US$, except for ounces and percentages
−Removed: September 30, 2024 (unaudited)
−Removed: Total investment
−Removed: Liabilities in excess of other assets
−Removed: June 30, 2024
−Removed: Total investment
−Removed: Liabilities in excess of other assets
+Added: 31, 2024 (unaudited)
+Added: in excess of other assets
+Added: in excess of other assets
Notes to the Financial Statements
of Operations (Unaudited)
−Removed: the three months ended September 30, 2024 and 2023
+Added: the three and six months ended December 31, 2024 and 2023
Amounts in 000’s of US$, except per share data
−Removed: Ended September
−Removed: Ended September
+Added: December 31, 2024
+Added: December 31, 2023
+Added: December 31, 2024
+Added: December 31, 2023
Total expenses
Net investment loss
−Removed: Net realized and unrealized gains (losses)
+Added: Net realized and unrealized gain (loss)
Net realized gain (loss) from:
9 unchanged sentences
of Changes in Net Assets (Unaudited)
−Removed: the three months ended September 30, 2024 and 2023
+Added: the three and six months ended December 31, 2024, and 2023
Amounts in 000’s of US$
−Removed: Ended September
−Removed: Ended September
+Added: December 31, 2024
+Added: December 31, 2023
+Added: December 31, 2024
+Added: December 31, 2023
Net Assets – beginning of the period
8 unchanged sentences
Highlights (Unaudited)
−Removed: the three months ended September 30, 2024 and 2023
−Removed: Share Performance
−Removed: (for a Share outstanding throughout the entire period)
−Removed: Ended September
−Removed: Ended September
+Added: the three and six months ended December 31, 2024, and 2023
+Added: Per Share Performance
+Added: a Share outstanding throughout each period)
+Added: December 31, 2024
+Added: December 31, 2023
+Added: December 31, 2024
+Added: December 31, 2023
Net asset value per Share at beginning of period
−Removed: investment income (loss) (1)
+Added: Net investment income (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: Market price per Share at end of period
+Added: Market value per Share at end of period
Total return ratio, at net asset value (2)
38 unchanged sentences
vaulting premises.
−Removed: 99.94 % and 99.98 % of gold is allocated gold in the form of good delivery gold bars as of September 30, 2024 and 2023,
+Added: 99.95 % and 100.0 0% of gold is allocated gold in the form of good delivery gold bars as of December 31, 2024 and 2023,
respectively.
20 unchanged sentences
of Trust’s Investments at Fair Value
+Added: December 31, 2024
(Amounts in 000’s of US$)
−Removed: September 30, 2024
+Added: December 31, 2024
Investment in Gold
following table summarizes the Trust’s investments at fair value:
+Added: June 30, 2024
(Amounts in 000’s of US$)
1 unchanged sentence
Investment in Gold
−Removed: were no transfers between Level 1 and other Levels for the period ended September 30, 2024 and year ended June 30, 2024.
+Added: were no transfers between Level 1 and other Levels for the period ended December 31, 2024 and the fiscal year ended June 30, 2024.
Expenses, realized gains and losses
5 unchanged sentences
legal expenses.
−Removed: of period ended September 30, 2024, the fees payable to the Sponsor were $ 123,374 .
−Removed: As of the year ended June 30, 2024, the fees payable
−Removed: to the Sponsor were $ 137,175 .
+Added: of period ended December 31, 2024, the fees payable to the Sponsor was $ 127,772 .
+Added: As of the fiscal year, ended June 30, 2024, the fees
+Added: payable to the Sponsor were $ 137,175 .
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, 2024 and 2023.
−Removed: otherwise directed by the Sponsor, when selling gold the Trustee will endeavor to sell at the price established by the LBMA PM Gold Price.
−Removed: The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable
−Removed: price and execution of orders.
−Removed: The Custodian may be the purchaser of such gold only if the sale transaction is made at the next LBMA
−Removed: PM Gold Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order.
−Removed: or loss is recognized based on the difference between the selling price and the cost of the gold sold.
−Removed: Neither the Trustee nor the Sponsor
−Removed: is liable for depreciation or loss incurred by reason of any sale.
+Added: Other than the Sponsor’s Fee, the Trust had no expenses during the three months and 6 months ended December 31, 2024 and 2023.
+Added: otherwise directed by the Sponsor, when selling gold, the Trustee will endeavor to sell at the price established by the LBMA PM Gold
+Added: The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the
+Added: most favorable price and execution of orders.
+Added: The Custodian may be the purchaser of such gold only if the sale transaction is made at
+Added: the next LBMA PM Gold Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale
+Added: A gain or loss is recognized based on the difference between the selling price and the cost of the gold sold.
+Added: Neither the Trustee
+Added: nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.
gains and losses result from the transfer of gold for Share redemptions and / or to pay expenses and are recognized on a trade date basis
42 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, 2024 and June 30, 2024.
+Added: that no reserves for uncertain tax positions are required as of December 31, 2024 and June 30, 2024.
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, 2024, the 2024, 2023,
+Added: As of December 31, 2024, the 2024, 2023
and 2022 tax years remain open for examination.
+Added: 2.6 Recently Issued Accounting Pronouncement
+Added: The Trust adopted FASB Accounting Standards Update
+Added: 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”).
+Added: The Trust operates
+Added: in one segment.
+Added: The segment derives its revenues from Trust investments made in accordance with the defined investment strategy of the
+Added: Trust, as prescribed in the Trust's prospectus.
+Added: The Chief Operating Decision Maker (“CODM”) is the Sponsor.
+Added: The CODM monitors
+Added: the operating results of the Trust.
+Added: The financial information the CODM leverages to assess the segment's performance and to make decisions
+Added: for the Trust's single segment, is consistent with that presented within the Trust's financial statements.
Investment in Gold
−Removed: in ounces of gold and their respective values for the period ended September 30, 2024.
+Added: in ounces of gold and their respective values for the period ended December 31, 2024:
of Investment in Gold
5 unchanged sentences
Change in unrealized appreciation (depreciation)
−Removed: Ending balance as of September 30, 2024
−Removed: in ounces of gold and their respective values for the year ended June 30, 2024.
+Added: Ending balance as of December 31, 2024
+Added: in ounces of gold and their respective values for the fiscal year ended June 30, 2024:
Amounts in 000’s of US$, except for ounces data
59 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.