Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data.
 
The following tables show the Trust’s quarterly financial information for 2022 and 2021.
 
 
 
Three Months Ended (Unaudited)
 
 
 
March 31,
2022
 
 
June 30,
2022
 
 
September 30,
2022
 
 
December 31,
2022
 
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sponsor’s fee
 
$
 437,075
 
 
$
 435,938
 
 
$
 390,507
 
 
$
 275,750
 
Sponsor’s fees waived
 
 
(233,058
)
 
 
(232,480
)
 
 
(208,273
)
 
 
(92,034
)
Total Expenses
 
 
204,017
 
 
 
203,458
 
 
 
182,234
 
 
 
183,716
 
Net investment loss
 
 
(204,017
)
 
 
(203,458
)
 
 
(182,234
)
 
 
(183,716
)
Net Realized and Unrealized Gain (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold bullion sold to pay expenses
 
$
 4,816
 
 
$
 8,567
 
 
$
 (5,509
)
 
$
 (10,355
)
Gold bullion distributed for the redemption of Shares
 
 
3,613,498
 
 
 
7,090,732
 
 
 
(724,706
)
 
 
(162,085
)
Net realized gain (loss)
 
 
3,618,314
 
 
 
7,099,299
 
 
 
(730,215
)
 
 
(172,440
)
Net change in unrealized appreciation/depreciation on investment in gold bullion
 
 
77,556,610
 
 
 
(86,409,036
)
 
 
(83,956,087
)
 
 
86,189,072
 
Net realized and unrealized gain (loss)
 
 
81,174,924
 
 
 
(79,309,737
)
 
 
(84,686,302
)
 
 
86,016,632
 
Net increase (decrease) in net assets resulting from operations
 
$
 80,970,907
 
 
$
 (79,513,195
)
 
$
 (84,868,536
)
 
$
 85,832,916
 
Net increase (decrease) in net assets per Share
 
$
 1.27
 
 
$
 (1.29
)
 
$
 (1.42
)
 
$
 1.42
 
 
 
 
 
Three Months Ended (Unaudited)
 
 
 
June 30,
2021 (a)
 
 
September 30,
2021
 
 
December 31,
2021
 
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
Sponsor's fee
 
$
 552
 
 
$
 200,617
 
 
$
 298,024
 
Sponsor's fees waived
 
 
(39
)
 
 
(107,095
)
 
 
(158,954
)
Total Expenses
 
 
513
 
 
 
93,522
 
 
 
139,070
 
Net investment loss
 
 
(513
)
 
 
(93,522
)
 
 
(139,070
)
Net Realized and Unrealized Gain (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
 
 
Gold bullion sold to pay expenses
 
 
 —
 
 
 
 422
 
 
 
 (814
)
Gold bullion distributed for the redemption of Shares
 
 
—
 
 
 
—
 
 
 
101,713
 
Net realized gain
 
 
—
 
 
 
422
 
 
 
100,899
 
Net change in unrealized appreciation/depreciation on investment in gold bullion
 
 
(509,750
)
 
 
(18,603,053
)
 
 
32,908,853
 
Net realized and unrealized gain (loss)
 
 
(509,750
)
 
 
(18,602,631
)
 
 
33,009,752
 
Net increase (decrease) in net assets resulting from operations
 
$
 (510,263
)
 
$
 (18,696,153
)
 
$
 32,870,682
 
Net increase (decrease) in net assets per Share
 
$
 (1.02
)
 
$
 (0.61
)
 
$
 0.74
 
 
(a)
Period from June 15, 2021 (Date of Inception) to June 30, 2021.
 
See Index to Financial Statements on page F-1 for a list of the financial statements being filed herein.
 
 
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
 
There have been no changes in accountants and no disagreements with accountants during the year ended December 31, 2022.
 
19
Table of Contents
 
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.