What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2020-12-08 compared with 2020-09-04 · 33 added, 27 removed, 352 unchanged (15% of the section changed)

21 unchanged sentences

of Operations

For the Three Months Ended July 31,

For the Six Months Ended July 31,

Three Months Ended

Nine Months Ended

Sponsor’s fees

4 unchanged sentences

Net change in unrealized appreciation (depreciation) on investment in gold bullion

Net realized and unrealized gain from operations

Net increase in net assets resulting from operations

( 18,495,904 )

Net realized and unrealized gain (loss) from operations

( 17,502,047 )

Net increase (decrease) in net assets resulting from operations

$ ( 17,754,861 )

notes to unaudited financial statements.

1 unchanged sentence

of Changes in Net Assets

For the Three Months Ended July 31,

For the Six Months Ended July 31,

Three Months Ended

Nine Months Ended

Net assets, beginning of period

9 unchanged sentences

Net change in unrealized appreciation (depreciation) on investment in gold bullion

( 18,495,904 )

Net assets, end of period

6 unchanged sentences

Share Performance (for a share outstanding throughout each period)

For the Three Months Ended July 31,

For the Six Months Ended July 31,

Three Months Ended

Nine Months Ended

Net asset value per share, beginning of period

Net investment loss (a)

Net realized and unrealized gain on investment in gold bullion

Net realized and unrealized gain (loss) on investment in gold bullion

Net change in net assets from operations

3 unchanged sentences

Net investment loss

(a) Calculated

using average shares outstanding

(a) Calculated using average shares outstanding

(b) Not annualized

19 unchanged sentences

$ 198,479,743

is less than 0.005%

(a) Amount is less than 0.005%

notes to unaudited financial statements.

57 unchanged sentences

to Unaudited Financial Statements

following table summarizes the inputs used as of July 31, 2020 in determining the Trust’s investments at fair value for

following table summarizes the inputs used as of October 31, 2020 in determining the Trust’s investments at fair value for

purposes of ASC 820:

86 unchanged sentences

Share submissions are processed in the order approved.

in the shares for the three-month period ended July 31, 2020 are as follows:

in the shares for the nine-month period ended October 31, 2020 are as follows:

Shares, beginning of period at February 1, 2020

4 unchanged sentences

( 27,858,127 )

Shares, end of period at July 31, 2020

Shares, end of period at October 31, 2020

$ 340,377,281

16 unchanged sentences

Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined

that no reserves for uncertain tax positions are required as of July 31, 2020.

that no reserves for uncertain tax positions are required as of October 31, 2020.

Revenue Recognition Policy

2 unchanged sentences

INVESTMENT IN GOLD

following represents the changes in Ounces of gold and the respective fair value at July 31, 2020:

following represents the changes in Ounces of gold and the respective fair value at October 31, 2020:

Beginning balance as of February 1, 2020

5 unchanged sentences

Change in unrealized appreciation (depreciation)

Ending balance as of July 31, 2020

Ending balance as of October 31, 2020

$ 416,830,640

9 unchanged sentences

$ 198,479,752

Merk Gold Trust

to Unaudited Financial Statements

RELATED PARTIES—SPONSOR, TRUSTEE, CUSTODIAN AND MARKETING FEES

20 unchanged sentences

in legal expenses.

Merk Gold Trust

to Unaudited Financial Statements

of the Trustee, as well as affiliates of the Custodian may from time to time act as Authorized Participants to purchase or sell

9 unchanged sentences

SHAREHOLDER OWNERSHIP

Hard Currency Fund owned a market value of $ 3,138,784 ( 162,800 shares) which equates to 0.84 % ownership in the Trust as of July

Hard Currency Fund owned a market value of $ 2,982,496 ( 162,800 shares) which equates to 0.72 % ownership in the Trust as of October

CONCENTRATION OF RISK

15 unchanged sentences

of operations.

Merk Gold Trust

to Unaudited Financial Statements

UNCERTAINTY REGARDING THE EFFECT OF COVID-19

30 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.

What changed 10-Q

Item 1. Financial Statements