iShares Gold Trust Micro
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
IAUM$40.51-0.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-08.
0001437749-24-025403
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-07.
0001437749-24-033817
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 24 previous paragraphs and 24 current paragraphs.
15 unchanged; 9 reworded; 0 added; 0 removed; 0 previous and 0 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.
Reworded paragraphs (9)
Previous wording
The Trust’s net asset value increased from $1,093,941,616 at March 31, 2024 to $1,201,326,993 at June 30, 2024, a 9.82% 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. The increase in the Trust’s net asset value also benefitted from an increase in the number of outstanding Shares, which rose from 49,500,000 Shares at March 31, 2024 to 51,650,000 Shares at June 30, 2024, a consequence of 4,050,000 Shares (81 Baskets) being created and 1,900,000 Shares (38 Baskets) being redeemed during the quarter.
Current wording
The Trust’s net asset value increased from $1,201,326,993 at June 30, 2024 to $1,450,991,617 at September 30, 2024, a 20.78% increase. The increase in the Trust’s net asset value resulted primarily from an increase in the price of gold, which grew 12.83% from $2,330.90 at June 30, 2024 to $2,629.95 at September 30, 2024. The increase in the Trust’s net asset value also benefitted from an increase in the number of outstanding Shares, which rose from 51,650,000 Shares at June 30, 2024 to 55,300,000 Shares at September 30, 2024, a consequence of 4,450,000 Shares (89 Baskets) being created and 800,000 Shares (16 Baskets) being redeemed during the quarter.
Previous wording
The 5.25% increase in the NAV from $22.10 at March 31, 2024 to $23.26 at June 30, 2024 is directly related to the 5.26% increase in the price of gold.
Current wording
The 12.81% increase in the NAV from $23.26 at June 30, 2024 to $26.24 at September 30, 2024 is directly related to the 12.83% 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 $203,256 for the quarter, or 0.02% of the Trust’s average weighted assets of $1,168,974,282 during the quarter. The NAV of $24.22 on May 21, 2024 was the highest during the quarter, compared with a low during the quarter of $22.10 on April 1, 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 $234,601 for the quarter, or 0.02% of the Trust’s average weighted assets of $1,336,096,237 during the quarter. The NAV of $26.58 on September 26, 2024 was the highest during the quarter, compared with a low during the quarter of $23.24 on July 1, 2024.
Previous wording
Net increase in net assets resulting from operations for the quarter ended June 30, 2024 was $57,871,524, resulting from an unrealized gain on investment in gold bullion of $48,899,779, a net realized gain of $9,139,690 on gold bullion distributed for the redemption of Shares, and a net realized gain of $35,311 from gold bullion sold to pay expenses during the quarter, partially offset by a net investment loss of $203,256. Other than the Sponsor’s fees of $203,256, the Trust had no expenses during the quarter.
Current wording
Net increase in net assets resulting from operations for the quarter ended September 30, 2024 was $161,153,236 resulting from an unrealized gain on investment in gold bullion of $156,618,421, a net realized gain of $4,724,615 on gold bullion distributed for the redemption of Shares, and a net realized gain of $44,801 from gold bullion sold to pay expenses during the quarter, partially offset by a net investment loss of $234,601. Other than the Sponsor’s fees of $234,601, the Trust had no expenses during the quarter.
Previous wording
The Six-Month Period Ended June 30, 2024
Current wording
The Nine-Month Period Ended September 30, 2024
Previous wording
The Trust’s net asset value decreased from $1,221,830,170 at December 31, 2023 to $1,201,326,993 at June 30, 2024, a 1.68% decrease. The decrease in the Trust’s net asset value resulted primarily from a decrease in the number of outstanding Shares, which fell from 59,350,000 Shares at December 31, 2023 to 51,650,000 Shares at June 30, 2024, a consequence of 6,800,000 Shares (136 Baskets) being created and 14,500,000 Shares (290 Baskets) being redeemed during the period. The decrease in the Trust’s net asset value was partially offset by 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.
Current wording
The Trust’s net asset value increased from $1,221,830,170 at December 31, 2023 to $1,450,991,617 at September 30, 2024, a 18.76% increase. The increase in the Trust’s net asset value resulted primarily from an increase in the price of gold, which grew 27.52% from $2,062.40 at December 31, 2023 to $2,629.95 at September 30, 2024. The increase in the Trust’s net asset value was partially offset by a decrease in the number of outstanding Shares, which fell from 59,350,000 Shares at December 31, 2023 to 55,300,000 Shares at September 30, 2024, a consequence of 11,250,000 Shares (225 Baskets) being created and 15,300,000 Shares (306 Baskets) being redeemed during the period.
Previous wording
The 12.97% increase in the NAV from $20.59 at December 31, 2023 to $23.26 at June 30, 2024 is directly related to the 13.02% increase in the price of gold.
Current wording
The 27.44% increase in the NAV from $20.59 at December 31, 2023 to $26.24 at September 30, 2024 is directly related to the 27.52% 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 $378,314 for the period, or 0.03% of the Trust’s average weighted assets of $1,087,072,209 during the period. The NAV of $24.22 on May 21, 2024 was the highest during the period, compared with a low during the period of $19.81 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 $612,915 for the period, or 0.05% of the Trust’s average weighted assets of $1,170,686,108 during the period. The NAV of $26.58 on September 26, 2024 was the highest during the period, compared with a low during the period of $19.81 on February 14, 2024.
Previous wording
Net increase in net assets resulting from operations for the six months ended June 30, 2024 was $132,685,246, resulting from an unrealized gain on investment in gold bullion of $99,043,090, a net realized gain of $33,969,122 on gold bullion distributed for the redemption of Shares, and a net realized gain of $51,348 from gold bullion sold to pay expenses during the period, partially offset by a net investment loss of $378,314. Other than the Sponsor’s fees of $378,314, the Trust had no expenses during the period.
Current wording
Net increase in net assets resulting from operations for the nine months ended September 30, 2024 was $293,838,482, resulting from an unrealized gain on investment in gold bullion of $255,661,511, a net realized gain of $38,693,737 on gold bullion distributed for the redemption of Shares, and a net realized gain of $96,149 from gold bullion sold to pay expenses during the period, partially offset by a net investment loss of $612,915. Other than the Sponsor’s fees of $612,915, the Trust had no expenses during the period.