Goldman Sachs Physical Gold ETF reported significant financial growth in its latest 10-Q filing for the quarter ending March 31, 2025. The Trust's net assets increased to $1.29 billion, up from $889.6 million at the end of the previous fiscal year. This growth was primarily driven by a net increase in net assets resulting from operations of $187.9 million, compared to $42.7 million for the same period in 2024. The net asset value (NAV) per share rose to $30.78, reflecting a 19.3% increase from the previous quarter's NAV of $25.81.
The Trust experienced a notable increase in the number of shares outstanding, with 42,047,000 shares as of March 31, 2025, compared to 34,466,000 shares at the end of December 2024. This increase was attributed to the creation of 7,581,000 shares in exchange for 74,927.5 ounces of gold, a significant rise from the 500,000 shares created in the same quarter of the previous year. The Trust did not redeem any shares during this period, contrasting with the redemption of 2,550,000 shares in the prior year.
Operationally, the Trust's gold holdings also expanded, with 415,560.7 ounces valued at $1.29 billion as of March 31, 2025, compared to 340,786.6 ounces valued at $889.7 million at the end of December 2024. The increase in gold holdings was primarily due to the higher market price of gold, which rose to $3,115.10 per ounce by the end of the quarter, up from $2,610.85 at the end of the previous fiscal year. The Trust's investment strategy remains focused on reflecting the performance of gold prices, less operational expenses.
The filing also highlighted the Trust's operational efficiency, with total expenses for the quarter amounting to $470,596, primarily attributed to the Sponsor Fee. The Trust's management indicated that there are no significant trends or uncertainties that could materially affect its liquidity needs. Looking ahead, the Trust's performance will continue to be closely tied to fluctuations in gold prices, which are influenced by various market factors, including global supply and demand dynamics, inflation expectations, and geopolitical events.
In summary, Goldman Sachs Physical Gold ETF has demonstrated strong financial performance and operational growth in the first quarter of 2025, with substantial increases in net assets, share count, and gold holdings. The Trust's outlook remains contingent on the evolving landscape of gold prices and market conditions.
About Goldman Sachs Physical Gold ETF
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