GraniteShares Gold Trust
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 8, 2024
BAR$40.00-0.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-05-08.
0001493152-24-018224
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-08.
0001493152-24-044165
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 27 previous paragraphs and 22 current paragraphs.
17 unchanged; 4 reworded; 1 added; 4 removed; 2 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.
Added paragraphs (1)
Current report
The Trust’s net asset value increased from $790,994,009 on June 30, 2024 to $879,107,605 on September 30, 2024, a 11.14% increase. The Trust’s number of shares outstanding decreased from 34,350,000 to 33,850,000 over this period. The net 500,000 shares decrease was a result of 6 creation orders and 16 redemption orders (50,000 shares per creation and redemption). The Trust’s net asset value was positively impacted by the change in the price of gold, which increased 12.83% from $2,330.90 on June 30, 2024 to $2,629.95 on September 30, 2024.
Removed paragraphs (4)
Previous report
The Trust’s net asset value increased from $960,483,199 on December 31, 2023 to $1,003,452,876 on March 31, 2024, a 4.47% increase. The increase in the Trust’s net asset value was due to a change in the price of gold, which increased 7.37% from $2,062.40 on December 31, 2023 to $2,214.35 on March 31, 2024. The impact of the increase of gold prices was reduced by the Trust’s number of shares outstanding which changed from 47,100,000 in December 31, 2023 to 45,850,000 in March 31, 2024 as a result 25 redemption orders (50,000 shares orders). There were no creation orders during the period.
Previous report
The 7.36% increase in the Trust’s net asset value per share, from $ 20.39 on December 31, 2023 to $ 21.89 on March 31, 2024 is related to the increase in the price of gold.
Previous report
Nine Months Ended March 31, 2024
Previous report
The Trust’s net asset value increased from $935,811,456 on June 30, 2023 to $1,003,452,876 on March 31, 2024 a 7.23% increase. The increase in the Trust’s net asset value was mainly caused by a 15.80% increase in gold price from $1,912.25 on June 30, 2023 to $2,214.35 on March 31, 2024. The positive impact of the gold price was negatively impacted the reduction in number of shares outstanding from 49,450,000 on June 30, 2023 to 45,850,000 on March 31, 2024, or (7.28%). The 3,600,000 shares decrease was the net result of 16 creations orders and 88 redemption orders (50,000 shares per creation and redemption order).
Reworded paragraphs (4)
Previous wording
The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s gold as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell gold to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of gold to the Sponsor. At March 31, 2024 the Trust did not have any cash balances.
Current wording
The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s gold as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell gold to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of gold to the Sponsor. On September 30, 2024 the Trust did not have any cash balances.
Previous wording
The 15.70% increase in the Trust’s net asset value per share, from $18.92 on June 30, 2023 to $21.89 on March 31, 2024 is directly related to the 15.80% increase in the price of gold.
Current wording
The 12.77% increase in the Trust’s net asset value per share, from $23.03 on June 30, 2024, to $25.97 on September 30, 2024 is directly related to the 12.83% increase in the price of gold.
Previous wording
The Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $412,810 for the quarter, or 0.043% of the Trust’s average weighted net assets of $ 949,605,896 during the quarter. The net asset value per share of $ 21.89 on March 28, 2024 was the highest during the quarter, compared with a low during the quarter of $19.62 on February 14, 2024.
Current wording
The Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $366,604 for the quarter, or 0.1749% of the Trust’s average weighted net assets of $830,592,005 during the quarter. The net asset value per share of $26.31 on September 26, 2024, was the highest during the quarter, compared with a low during the quarter of $23.01 on July 01, 2024.
Previous wording
Net increase in net assets resulting from operations for the quarter ended March 31, 2024 was $67,930,370, resulting from an unrealized gain on investment in gold bullion of $63,244,208 increased by a gain of $5,098,972 on metal sold to cover the redemption orders and the Sponsor’s fees but reduced by the Sponsor’s fees of $412,810. Other than the Sponsor’s fees 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 $100,010,521, resulting from an unrealized gain on investment in gold bullion of $93,978,695, increased by a gain of $6,398,430 on metal sold to cover redemption orders and Sponsor’s fees but increased by the Sponsor’s fees of $366,604. Other than the Sponsor’s fees the Trust had no expenses during the quarter.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
The Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $1,228,120 for the period, or 0.131% of the Trust’s average weighted net assets of $934,396,949 during the nine-month period. The net asset value per share of $ 21.89 on March 28, 2024 was the highest during the period, compared with a low during the period of $17.99 on October 04, 2023.
Previous report — wording carried elsewhere
The net increase in net assets resulting from operations for the 9 months period ending March 31, 2024 was $137,109,409, resulting from an unrealized gain on investment in gold bullion of $123,001,394, increased by a gain of $15,336,135 on metal sold to cover the redemption orders and the Sponsor’s fees but reduced by the Sponsor’s fees of $1,228,120. Other than the Sponsor’s fees the Trust had no expenses during the quarter.