ISHARES GOLD TRUST
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-05-08.
0001437749-24-015387
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-06-30; filed 2024-08-08.
0001437749-24-025405
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 18 previous paragraphs and 23 current paragraphs.
14 unchanged; 4 reworded; 1 added; 0 removed; 0 previous and 4 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
The Six-Month Period Ended June 30, 2024
Reworded paragraphs (4)
Previous wording
The Trust’s net asset value increased from $26,424,910,984 at December 31, 2023 to $27,554,551,032 at March 31, 2024, a 4.27% increase. The increase in the Trust's net asset value resulted primarily from an increase in the price of gold, which grew 7.37% from $2,062.40 at December 31, 2023 to $2,214.35 at March 31, 2024, partially offset by a decrease in the number of outstanding shares which fell from 677,050,000 Shares at December 31, 2023 to 657,950,000 Shares at March 31, 2024, a consequence of 4,950,000 Shares (99 Baskets) being created and 24,050,000 Shares (481 Baskets) being redeemed during the quarter.
Current wording
The Trust’s net asset value increased from $27,554,551,032 at March 31, 2024 to $28,361,342,509 at June 30, 2024, a 2.93% increase. The increase in the Trust’s net asset value resulted primarily from an increase in the price of gold, which grew 5.26% from $2,214.35 at March 31, 2024 to $2,330.90 at June 30, 2024, partially offset by a decrease in the number of outstanding Shares, which fell from 657,950,000 Shares at March 31, 2024 to 643,750,000 Shares at June 30, 2024, a consequence of 6,450,000 Shares (129 Baskets) being created and 20,650,000 Shares (413 Baskets) being redeemed during the quarter.
Previous wording
The 7.30% increase in the NAV from $39.03 at December 31, 2023 to $41.88 at March 31, 2024 is directly related to the 7.37% increase in the price of gold.
Current wording
The 5.21% increase in the NAV from $41.88 at March 31, 2024 to $44.06 at June 30, 2024 is directly related to the 5.26% increase in the price of gold.
Previous wording
The NAV increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $16,206,829 for the quarter, or 0.06% of the Trust's average weighted assets of $26,083,680,244 during the quarter. The NAV of $41.88 on March 28, 2024 was the highest during the quarter, compared with a low during the quarter of $37.56 on February 14, 2024.
Current wording
The NAV increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $17,828,550 for the quarter, or 0.06% of the Trust’s average weighted assets of $28,691,260,045 during the quarter. The NAV of $45.89 on May 21, 2024 was the highest during the quarter, compared with a low during the quarter of $41.88 on April 1, 2024.
Previous wording
Net increase in net assets resulting from operations for the quarter ended March 31, 2024 was $1,870,910,537, resulting from an unrealized gain on investment in gold bullion of $1,665,679,232, a net realized gain of $217,647,962 on gold distributed for the redemption of shares, and a net realized gain of $3,790,172 from gold bullion sold to pay expenses during the quarter, partially offset by a net investment loss of $16,206,829. Other than the Sponsor’s fees of $16,206,829, the Trust had no expenses during the quarter.
Current wording
Net increase in net assets resulting from operations for the quarter ended June 30, 2024 was $1,425,630,248, resulting from an unrealized gain on investment in gold bullion of $1,148,315,128, a net realized gain of $289,499,631 on gold distributed for the redemption of Shares, a net realized gain of $5,557,511 from gold bullion sold to pay expenses and a net realized gain of $86,528 from litigation proceeds during the quarter, partially offset by a net investment loss of $17,828,550. Other than the Sponsor’s fees of $17,828,550, the Trust had no expenses during the quarter.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
The Trust’s net asset value increased from $26,424,910,984 at December 31, 2023 to $28,361,342,509 at June 30, 2024, a 7.33% increase. The increase in the Trust’s net asset value resulted primarily from an increase in the price of gold, which grew 13.02% from $2,062.40 at December 31, 2023 to $2,330.90 at June 30, 2024, partially offset by a decrease in the number of outstanding Shares, which fell from 677,050,000 Shares at December 31, 2023 to 643,750,000 Shares at June 30, 2024, a consequence of 11,400,000 Shares (228 Baskets) being created and 44,700,000 Shares (894 Baskets) being redeemed during the period.
Current report — wording carried from elsewhere
The 12.89% increase in the NAV from $39.03 at December 31, 2023 to $44.06 at June 30, 2024 is directly related to the 13.02% increase in the price of gold.
Current report — wording carried from elsewhere
The NAV increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $34,035,379 for the period, or 0.12% of the Trust’s average weighted assets of $27,388,533,774 during the period. The NAV of $45.89 on May 21, 2024 was the highest during the period, compared with a low during the period of $37.56 on February 14, 2024.
Current report — wording carried from elsewhere
Net increase in net assets resulting from operations for the six months ended June 30, 2024 was $3,296,540,785, resulting from an unrealized gain on investment in gold bullion of $2,813,994,360, a net realized gain of $507,147,593 on gold distributed for the redemption of Shares, a net realized gain of $9,347,683 from gold bullion sold to pay expenses and a net realized gain of $86,528 from litigation proceeds during the period, partially offset by a net investment loss of $34,035,379. Other than the Sponsor’s fees of $34,035,379, the Trust had no expenses during the period.