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iShares Gold Trust (BLK+0.38%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in net asset value to $31,309,646,703 from $28,361,342,509 at the end of the previous quarter. This increase is attributed to a rise in the price of gold.
The Trust's net asset value per share increased to $49.68 from $44.06, reflecting a 12.76% increase, which is closely aligned with the 12.83% increase in the price of gold during the quarter.
The Trust reported a net increase in net assets resulting from operations of $3,540,822,894 for the quarter. This was primarily due to an unrealized gain on investment in gold bullion of $2,985,283,203 and a net realized gain of $574,177,810.
Sponsor's fees for the quarter were $18,638,119, representing 0.06% of the Trust's average weighted assets during the quarter.
The Trust's net asset value increased by 18.49% over the nine-month period ending September 30, 2024, primarily due to a 27.52% increase in the price of gold, offset by a decrease in the number of outstanding shares.
The Trust's net asset value per share increased from $39.03 at the end of 2023 to $49.68 at the end of September 2024, reflecting a 27.29% increase.
Net increase in net assets resulting from operations for the nine months ended September 30, 2024, was $6,837,363,679. This was driven by an unrealized gain on investment in gold bullion of $5,799,277,563 and a net realized gain of $1,090,673,086.
The Trust's liquidity needs are primarily met through sales of gold, and the Sponsor has agreed to assume most of the Trust's expenses, with the Sponsor's fees being the only ordinary expense during the period.
The Trust's financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States of America, relying on estimates and assumptions that impact the Trust's financial position and results of operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the iShares Gold Trust quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.