48 unchanged sentences
Fee through in-kind transfers of gold to the Sponsor.
−Removed: On September 30, 2024 the Trust did not have any cash balances.
+Added: On December 31, 2024 the Trust did not have any cash balances.
Sheet Arrangements
10 unchanged sentences
of Operations
−Removed: Quarter Ended September 30, 2024
−Removed: Trust’s net asset value increased from $790,994,009 on June 30, 2024 to $879,107,605 on September 30, 2024, a 11.14% increase.
−Removed: The Trust’s number of shares outstanding decreased from 34,350,000 to 33,850,000 over this period.
−Removed: The net 500,000 shares decrease
−Removed: was a result of 6 creation orders and 16 redemption orders (50,000 shares per creation and redemption).
−Removed: The Trust’s net asset value
−Removed: was positively impacted by the change in the price of gold, which increased 12.83% from $2,330.90 on June 30, 2024 to $2,629.95 on September
−Removed: 12.77% increase in the Trust’s net asset value per share, from $23.03 on June 30, 2024, to $25.97 on September 30, 2024 is directly
+Added: Quarter Ended December 31, 2024
+Added: Trust’s net asset value decreased from $879,107,605 on September 30, 2024 to $846,562,642 on December 31, 2024, a 3.7% decrease.
+Added: The decrease in the Trust’s net asset value was due to a 0.73% decrease of gold price from $2,629.95 on September 30, 2024, to
+Added: $2,610.85 on December 31, 2024, as well as a decrease in the number of shares outstanding from 33,850,000 to 32,850,000 over this period.
+Added: The 1,000,000 shares decrease was a result of 20 redemption orders (50,000 shares per creation and redemption).
+Added: There were no creation
+Added: orders over the period considered.
+Added: 0.77% decrease in the Trust’s net asset value per share, from $25.97 on September 30, 2024, to $25.77 on December 31, 2024, is
+Added: directly related to the 0.73% 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 $385,908 for the quarter, or 0.044% of the Trust’s average weighted net assets of $875,387,291 during the quarter.
+Added: The net asset value per share of $27.43 on October 30, 2024, was the highest during the quarter, compared with a low during the quarter
+Added: of $25.35 on November 14, 2024.
+Added: net decrease in net assets resulting from operations for the quarter ended December 31, 2024, was $6,318,476, resulting primarily from
+Added: an unrealized loss on investment in gold bullion of $16,110,243, compensated a gain of $10,177,675 on metal sold to cover redemption
+Added: orders and Sponsor’s fees but increased by the Sponsor’s fees of $385,908.
+Added: Other than the Sponsor’s fees the Trust
+Added: had no expenses during the quarter.
+Added: Months Ended December 31, 2024
+Added: Trust’s net asset value increased from $790,994,009 on June 30, 2024, to $846,562,642 on December 31, 2024, a 7.0% increase.
+Added: increase in the Trust’s net asset value was the result of the positive change in gold price, which increased by 12.0% from $2,330.90
+Added: on June 30, 2024, to $2,610.85 on December 31, 2024.
+Added: However, the Trusts’ net asset was negatively impacted by a reduction in the
+Added: number of shares outstanding from 34,350,000 to 32,850,000, a 4.4% decrease.
+Added: The 1,500,000 shares decrease was the net result of 6 creation
+Added: orders and 36 redemption orders (50,000 shares per creation and redemption order).
+Added: 11.9% increase in the Trust’s net asset value per share, from $23.03 on June 30, 2024, to $25.77 on December 31, 2024, is directly
related to the 12.0% increase in the price of gold.
Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s
−Removed: fees, which were $366,604 for the quarter, or 0.1749% of the Trust’s average weighted net assets of $830,592,005 during the quarter.
−Removed: The net asset value per share of $26.31 on September 26, 2024, was the highest during the quarter, compared with a low during the quarter
−Removed: of $23.01 on July 01, 2024.
−Removed: increase in net assets resulting from operations for the quarter ended September 30, 2024, was $100,010,521, resulting from an unrealized
−Removed: gain on investment in gold bullion of $93,978,695, increased by a gain of $6,398,430 on metal sold to cover redemption orders and Sponsor’s
−Removed: fees but increased by the Sponsor’s fees of $366,604.
−Removed: Other than the Sponsor’s fees the Trust had no expenses during the
+Added: fees, which were $752,513 for the period, or 0.088% of the Trust’s average weighted net assets of $853,489,237 during the six-month
+Added: The net asset value per share of $27.42 on October 30, 2024, was the highest during the period, compared with a low during the
+Added: quarter of $25.35 on November 14, 2024.
+Added: net increase in net assets resulting from operations for the 6 months period ending December 31, 2024, was $93,692,045, resulting from
+Added: an unrealized gain on investment in gold bullion of $77,868,452, increased by a gain of $16,576,106 on metal sold to cover the redemption
+Added: orders and the Sponsor’s fees but reduced by the Sponsor’s fees of $752,513.
+Added: Other than the Sponsor’s fees the Trust
+Added: had no expenses 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.