VanEck Merk Gold Trust Files Q1 2024 10-Q

TL;DR

**VanEck Gold Trust 10-Q filed for Q1 2024. Check financials.**

AI Summary

VanEck Merk Gold Trust filed its 10-Q for the quarterly period ended April 30, 2024. The filing details the trust's financial performance and operations. The trust, incorporated in New York, has its principal executive offices at 1150 Chestnut St, Menlo Park, California.

Why It Matters

This filing provides investors with an update on the financial health and operational status of the VanEck Merk Gold Trust, crucial for understanding its performance in the gold market.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing for a gold trust, not indicating any immediate or unusual risks.

Key Numbers

• 0131 — Fiscal Year End (Indicates the end of the trust's fiscal year.)
• 20240430 — Period of Report (The end date for the quarterly reporting period.)

Key Players & Entities

• VanEck Merk Gold Trust (company) — Registrant
• April 30, 2024 (date) — Quarterly period end date
• 001-36459 (other) — Commission file number
• 1150 Chestnut St, Menlo Park, California (address) — Principal Executive Offices
• Merk Investments LLC (company) — Agent for service of process

FAQ

Filing Documents

• ea0207398-10q_vaneck.htm (10-Q) — 270KB
• ea020739801ex31-1_vaneck.htm (EX-31.1) — 11KB
• ea020739801ex32-1_vaneck.htm (EX-32.1) — 5KB
• image_001.jpg (GRAPHIC) — 17KB
• image_002.jpg (GRAPHIC) — 17KB
• 0001213900-24-050518.txt ( ) — 2048KB
• ounz-20240430.xsd (EX-101.SCH) — 22KB
• ounz-20240430_cal.xml (EX-101.CAL) — 7KB
• ounz-20240430_def.xml (EX-101.DEF) — 78KB
• ounz-20240430_lab.xml (EX-101.LAB) — 128KB
• ounz-20240430_pre.xml (EX-101.PRE) — 73KB
• ea0207398-10q_vaneck_htm.xml (XML) — 188KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 1 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Unaudited Statements of Assets and Liabilities at April 30, 2024 and January 31, 202 4 1 Unaudited Statements of Operations for the Three Months Ended April 30, 2024 and 2023 2 Unaudited Statements of Changes in Net Assets for the Three Months Ended April 30, 2024 and 2023 3 Unaudited Schedules of Investment at April 30, 2024 and January 31, 202 4 4 Notes to the Unaudited Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 i VANECK MERK GOLD TRUST CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or Quarterly Report, includes statements which relate to future events or future performance. In some cases, you can identify such forward-looking "anticipate," "believe," "estimate," "predict," "potential" or the negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that may occur in the future, including such matters as changes in commodity prices and market conditions (for gold and the shares), the operations of VanEck Merk Gold Trust, or Trust, the plans of Merk Investments LLC, the sponsor of the Trust, or Sponsor, and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by the Sponsor on the basis of its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions is subject to a number of risks and uncertainties, including the special considerations referenced in this Quarterly Report, general economic, market and business conditions, changes in laws or regulations, including those concerning taxes, made by governmental authorities or regulatory bodies, and other world economic and political developments. Consequently, all the forward-looking statements made in this Quarterly Report are qualified by these cautionary statements, and there can be no assurance that the actual results or developments the Sponsor

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) VanEck Merk Gold Trust April 30, 2024 January 31, 2024 (unaudited) Assets Investments in gold bullion (cost $ 685,441,413 and $ 659,416,378 , respectively) $ 904,160,071 $ 780,184,353 Capital shares receivable - 5,906,605 Other receivable - 4 Total assets $ 904,160,071 $ 786,090,962 Liabilities Gold Bullion payable - 5,906,609 Sponsor's fee payable 19 6 Total liabilities 19 5,906,615 Net assets $ 904,160,052 $ 780,184,347 Net assets consists of: Paid-in-capital $ 683,588,010 $ 657,109,274 Accumulated earnings 220,572,042 123,075,073 $ 904,160,052 $ 780,184,347 Shares issued and outstanding ( no par value) 40,835,640 39,626,030 Net asset value per share $ 22.14 $ 19.69 See notes to unaudited financial statements. 1 VanEck Merk Gold Trust For the Three Months Ended April 30, 2024 For the Three Months Ended April 30, 2023 (unaudited) (unaudited) Expenses Sponsor's fees $ 516,393 $ 409,800 Total expenses 516,393 409,800 Net investment loss ( 516,393 ) ( 409,800 ) Net realized and unrealized gain (loss) Net realized gain from gold bullion distributed for redemptions 62,679 609,442 Net change in unrealized appreciation (depreciation) on investment in gold bullion 97,950,683 19,860,745 Net realized and unrealized gain (loss) from operations 98,013,362 20,470,187 Net increase (decrease) in net assets resulting from operations $ 97,496,969 $ 20,060,387 See notes to unaudited financial statements. 2 VanEck Merk Gold Trust For the Three Months Ended April 30, 2024 For the Three Months Ended April 30, 2023 (unaudited) (unaudited) Net assets, beginning of period $ 780,184,347 $ 656,592,798 Creations 26,788,189 39,381,222 Redemptions ( 309,453 ) ( 3,879,742 ) Net investment loss ( 516,393 ) ( 409,800 ) N

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View this 10-Q filing on SEC EDGAR