As of September 30, 2024, GraniteShares Gold Trust reported a cost of investment in gold bullion amounting to $548.3 million, a slight decrease from $554.2 million as of June 30, 2024. The Trust holds 334,314.713 ounces of gold bullion, with a market value of $879.2 million, representing 100.01% of the company's net assets, which totaled $879.1 million.
The net asset value (NAV) per share increased significantly from $23.03 at the beginning of the third quarter of 2024 to $25.97 by the end of the period, reflecting a 12.77% rise. This increase is attributed to a net realized and unrealized gain on investments in gold bullion of $2.95 per share, compared to a loss of $(0.41) per share in the same quarter of the previous year. The total return ratio at NAV for Q3 2024 was 12.77%, a notable improvement from the negative return of (2.22%) in Q3 2023.
The Trust's net assets increased by 11.14% from $791.0 million on June 30, 2024, to $879.1 million on September 30, 2024. This growth was driven by a 12.83% rise in the price of gold, which increased from $2,330.90 to $2,629.95 per ounce during the same period. The number of shares outstanding decreased from 34.35 million to 33.85 million due to six creation orders and 16 redemption orders.
The Sponsor's fees for the quarter were $366,604, calculated at 0.1749% of the Trust's average weighted net assets of $830.6 million. Fees payable to the Sponsor decreased from $137,175 as of June 30, 2024, to $123,374 as of September 30, 2024. The Trust incurred no other expenses during the quarter.
GraniteShares Gold Trust, formed on August 24, 2017, operates as a common law trust under New York law, with its primary objective to reflect the value of its gold assets, less accrued expenses and liabilities. The Trust's shares are traded on the NYSE Arca under the symbol "BAR." As of September 30, 2024, 99.94% of the gold held by the Trust is allocated gold in the form of good delivery gold bars. The Trust remains classified as a "grantor trust" for U.S. federal income tax purposes, with no reserves for uncertain tax positions required.
About GraniteShares Gold Trust
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