Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk
The Trust does not engage in transactions in foreign
currencies which could expose the Trust or holders of Shares to any foreign currency related market risk. The Trust does not invest in
any derivative financial instruments or long-term debt instruments. Fluctuations in the value of gold bullion will affect the value of
Shares which are designed to reflect the performance of the price of gold bullion, less the Trust’s expenses.
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.