As of September 30, 2024, iShares Gold Trust Micro reported significant growth in its financial performance compared to the previous fiscal period. The investment in gold bullion at fair value reached $1,451.1 million, up from $1,221.9 million at December 31, 2023. Total assets mirrored this increase, also rising to $1,451.1 million from $1,221.9 million. Net assets similarly grew to $1,450.99 million, compared to $1,221.83 million at the end of the previous year.
The net asset value (NAV) per share saw a substantial increase, climbing to $26.24 from $20.59, reflecting a 27.44% rise over the nine-month period. This increase was driven by a notable appreciation in the price of gold, which surged by 27.52% from $2,062.40 to $2,629.95 during the same timeframe.
For the three months ending September 30, 2024, the Trust reported total expenses of $234,601, an increase from $159,864 in the same period of 2023. However, the net realized and unrealized gain for the quarter was $161.4 million, a significant turnaround from a loss of $(19.1) million in the prior year. This resulted in a net increase in net assets from operations of $161.2 million, compared to a decrease of $(19.3) million in the previous year.
Over the nine-month period, the net increase in net assets resulting from operations was $293.8 million, a substantial rise from $39.1 million in the same period of 2023. The Trust's performance was bolstered by an unrealized gain on gold bullion of $255.7 million.
The number of outstanding shares decreased from 59.35 million at December 31, 2023, to 55.3 million by September 30, 2024, due to the issuance of 11.25 million shares and the redemption of 15.3 million shares. The Trust's sponsor waived fees totaling $175,158 for the nine-month period, with the annualized fee rate set at 0.09% of the net asset value, reduced to 0.07% through June 30, 2027.
Overall, the iShares Gold Trust Micro demonstrated robust growth in net assets and NAV per share, driven by favorable market conditions and a significant increase in gold prices.
About iShares Gold Trust Micro
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