The iShares Gold Trust reported significant financial growth in its latest 10-Q filing for the period ending June 30, 2025. The Trust's net asset value (NAV) surged to $46.7 billion, marking a 41.7% increase from $32.96 billion at the end of 2024. This growth was primarily driven by a 25.9% rise in the price of gold, which increased from $2,610.85 to $3,287.45 per ounce during the same period. The number of shares outstanding also rose, from 668.65 million to 753.4 million, reflecting the issuance of 111.8 million shares and the redemption of 27.05 million shares.
In the second quarter of 2025, the Trust's NAV increased by 9.8% from $42.54 billion at the end of March 2025. The increase in NAV was attributed to a 5.5% rise in gold prices and a net increase in assets resulting from operations of $2.31 billion. The Trust reported a net investment loss of $28.58 million for the quarter, which was offset by a net realized gain of $492.53 million from gold bullion distributed for share redemptions and an unrealized gain of $1.85 billion on investments in gold bullion.
Operationally, the Trust's total assets reached $46.71 billion, with liabilities amounting to $9.66 million. The Trust's expenses for the quarter were primarily driven by sponsor fees, which totaled $28.58 million, representing 0.06% of the average weighted assets. The Trust's net asset value per share increased from $49.29 at the end of 2024 to $61.98 by June 30, 2025, reflecting a total return of 25.75% for the six-month period.
Looking ahead, the Trust's management remains optimistic about the continued performance of gold as a safe-haven asset amid fluctuating market conditions. The Trust's strategy focuses on maintaining its investment in gold bullion, which is expected to provide a hedge against inflation and economic uncertainty. The Trust's liquidity remains stable, with no significant changes anticipated in its operational needs. The management emphasizes that while the Trust does not engage in profit-seeking activities, it aims to reflect the performance of gold prices effectively.
About ISHARES GOLD TRUST
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