As of September 30, 2024, the abrdn Gold ETF Trust reported total assets of $3,738,013,000, marking a significant increase from $2,826,667,000 as of December 31, 2023. The investment in gold was valued at $3,732,989,000 at the end of the third quarter, up from $2,826,667,000 at the end of the previous fiscal year. Correspondingly, net assets rose to $3,737,499,000, compared to $2,826,258,000 at the end of 2023.
The number of shares outstanding also increased during this period, rising from 142,200,000 at December 31, 2023, to 148,800,000 by September 30, 2024. For the three months ended September 30, 2024, the Trust reported a realized gain on gold transferred to pay expenses amounting to $432,190,000. Additionally, the change in unrealized gain on investment in gold for the same period was $406,988,000, resulting in a total gain on investment in gold of $412,654,000.
The net increase in net assets from operations for the three months ended September 30, 2024, was $411,179,000. The net asset value (NAV) per share saw a notable increase from $19.88 at December 31, 2023, to $25.12 at September 30, 2024, reflecting a 26.36% rise. Over the nine months ending September 30, 2024, the Trust's NAV increased from $2,826,258,000 to $3,737,499,000, representing a 32.24% increase.
The price per ounce of gold also experienced a significant rise, increasing from $2,078.40 at December 31, 2023, to $2,629.95 at September 30, 2024, which is a 26.54% increase. These developments indicate a robust performance for the abrdn Gold ETF Trust, driven by favorable market conditions and increased investment in gold.
About abrdn Gold ETF Trust
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