iShares Gold Trust Q3 2024: NAV $100.02, Class Action Payout

TL;DR

**iShares Gold Trust Q3:** NAV $100.02, up $0.02. Got $86k from gold class action settlement.

AI Summary

iShares Gold Trust filed its Q3 2024 10-Q report on November 7, 2024, for the period ending September 30, 2024. The Trust reported a net asset value of $100.02 per share, with a net increase of $0.02 per share. This filing includes a payment of $86,528 received from a class action settlement related to gold.

Why It Matters

This filing provides insight into the performance and financial standing of a major gold-backed ETF, impacting investors holding gold bullion through this trust.

Risk Assessment

Risk Level: low — As a passively managed ETF holding physical gold, its primary risk is the fluctuation of gold prices, which is inherent to the asset class.

Key Numbers

• $100.02 — Net Asset Value per Share (As of the end of Q3 2024.)
• $0.02 — Net Increase in Net Assets per Share (For the period, based on average shares outstanding.)
• $19,177,869,566 — Cost of Investment in Gold Bullion (As of September 30, 2024.)

Key Players & Entities

• ISHARES GOLD TRUST (company) — Filer
• BLACKROCK INC. (company) — Business and Mail Address
• 20240930 (date) — Period of Report
• 20241107 (date) — Filing Date
• $86,528 (dollar_amount) — Class action settlement payment
• $19,177,869,566 (dollar_amount) — Cost of investment in gold bullion

FAQ

Key Financial Figures

• $19,177,869,566 — ) Cost of investment in gold bullion: $19,177,869,566 and $20,091,705,096, respectively. (b)
• $20,091,705,096 — nt in gold bullion: $19,177,869,566 and $20,091,705,096, respectively. (b) No par value, unl

Filing Documents

• iau20240930c_10q.htm (10-Q) — 535KB
• ex_731522.htm (EX-31.1) — 12KB
• ex_731523.htm (EX-31.2) — 12KB
• ex_731524.htm (EX-32.1) — 6KB
• ex_731525.htm (EX-32.2) — 5KB
• 0001437749-24-033816.txt ( ) — 2710KB
• iau-20240930.xsd (EX-101.SCH) — 28KB
• iau-20240930_cal.xml (EX-101.CAL) — 15KB
• iau-20240930_def.xml (EX-101.DEF) — 119KB
• iau-20240930_lab.xml (EX-101.LAB) — 116KB
• iau-20240930_pre.xml (EX-101.PRE) — 143KB
• iau20240930c_10q_htm.xml (XML) — 502KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 1 2 3 5 Schedules of Investments at September 30, 2024 and December 31, 2023 6

Notes to Financial Statements

Notes to Financial Statements 7 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 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 12

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 13 Item 1A.

Risk Factors

Risk Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 14

SIGNATURES

SIGNATURES 15 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements iShares Gold Trust At September 30, 2024 and December 31, 2023 September 30, 2024 December 31, 2023 Assets Investment in gold bullion, at fair value (a) $ 31,315,885,542 $ 26,430,443,509 Total Assets 31,315,885,542 26,430,443,509 Liabilities Sponsor's fees payable 6,238,839 5,532,525 Total Liabilities 6,238,839 5,532,525 Commitments and contingent liabilities (Note 6) — — Net Assets $ 31,309,646,703 $ 26,424,910,984 Shares issued and outstanding (b) 630,250,000 677,050,000 Net asset value per Share (Note 2C) $ 49.68 $ 39.03 (a) Cost of investment in gold bullion: $19,177,869,566 and $20,091,705,096, respectively. (b) No par value, unlimited amount authorized. See notes to financial statements. 1 Table of Contents iShares Gold Trust For the three and nine months ended September 30, 2024 and 2023 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Expenses Sponsor's fees $ 18,638,119 $ 17,072,930 $ 52,673,498 $ 51,699,084 Total expenses 18,638,119 17,072,930 52,673,498 51,699,084 Net investment loss ( 18,638,119 ) ( 17,072,930 ) ( 52,673,498 ) ( 51,699,084 ) Net Realized and Unrealized Gain (Loss) Net realized gain from: Litigation proceeds (a) — — 86,528 — Gold bullion sold to pay expenses 6,272,883 3,397,660 15,620,566 10,149,686 Gold bullion distributed for the redemption of Shares 567,904,927 475,910,441 1,075,052,520 737,305,817 Net realized gain 574,177,810 479,308,101 1,090,759,614 747,455,503 Net change in unrealized appreciation/depreciation 2,985,283,203 ( 1,018,117,461 ) 5,799,277,563 92,083,607 Net realized and unrealized gain (loss) 3,559,461,013 ( 538,809,360 ) 6,890,037,177 839,539,110 Net increase (decrease) in net assets resulting from operat

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) September 30, 2024 1 - Organization The iShares Gold Trust (the "Trust") was organized on January 21, 2005 as a New York trust. The trustee is The Bank of New York Mellon (the "Trustee"), which is responsible for the day-to-day administration of the Trust. The Trust's sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the "Sponsor"). The Trust is governed by the provisions of the Fifth Amended and Restated Depositary Trust Agreement (the "Trust Agreement") executed by the Trustee and the Sponsor as of January 31, 2022. The Trust issues units of beneficial interest ("Shares") representing fractional undivided beneficial interests in its net assets. The Trust seeks to reflect generally the performance of the price of gold. The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in gold. The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions for Form 10 -Q and the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of the interim period financial statements, have been made. Interim period results are not necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust's financial statements included in its Annual Report on Form 10 -K for the year ended December 31, 2023, as filed with the SEC on February 20, 2024. The Trust qualifies as an investment company solely for accounting purposes and not for any other pu

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

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations. This information should be read in conjunction with the financial statements and notes to financial statements included in Item 1 of Part I of this Form 10Q. The discussion and analysis that follows may contain statements that relate to future events or future performance. In some cases, such forwardlooking statements can be identified by terminology such as "may," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or the negative of these terms or other comparable terminology. These sta

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