GraniteShares Gold Trust reported its financial performance for the quarter ending December 31, 2024, revealing a net asset value (NAV) of $846.6 million, a decrease of 3.7% from $879.1 million at the end of the previous quarter. This decline was attributed to a 0.73% drop in the price of gold, which fell from $2,629.95 to $2,610.85 per ounce during the same period. The number of shares outstanding also decreased from 33.85 million to 32.85 million, primarily due to 20 redemption orders, with no new creation orders reported.
In comparison to the previous fiscal period, the Trust's NAV showed a 7.0% increase from $791.0 million on June 30, 2024, driven by a 12.0% rise in gold prices. However, the total number of shares outstanding decreased by 4.4% due to a higher number of redemption orders compared to creation orders. The NAV per share increased from $23.03 to $25.77 over the six-month period, reflecting the positive change in gold prices, although it was slightly impacted by the Sponsor's fees, which totaled $752,513 for the period.
Operationally, the Trust maintained its focus on gold investments, with total gold bullion valued at $846.7 million as of December 31, 2024. The Trust's investment in gold bullion remained unchanged in terms of ounces, totaling 324,296.844 ounces. The Trust's expenses were primarily limited to the Sponsor's fees, which were $385,908 for the quarter, representing 0.044% of the average weighted net assets. The Trust reported no other expenses during the quarter, indicating a streamlined operational structure.
Looking ahead, the Trust's management has not identified any significant trends or uncertainties that could materially affect its liquidity needs. The Sponsor continues to assume most administrative expenses, allowing the Trust to focus on its core investment strategy. The Trust's performance is closely tied to gold market conditions, and any fluctuations in gold prices will directly impact its NAV and overall financial health. The Trust remains committed to providing a cost-effective means for investors to gain exposure to gold, with shares trading on the NYSE Arca under the symbol "BAR."
About GraniteShares Gold Trust
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