10-QPeriod: Q2 FY2023

ISHARES GOLD TRUST Quarterly Report for Q2 Ended Jun 30, 2023

Filed August 4, 2023For Securities:IAU

Summary

The iShares Gold Trust (IAU) reported its financial results for the quarter and six months ended June 30, 2023. For the six-month period, the Trust saw a net increase in its assets, driven by a rise in the price of gold and an increase in outstanding Shares. The net asset value (NAV) per Share grew to $36.23 from $34.38 at the start of the year. This growth was primarily attributed to an $1.11 billion increase in the fair value of its gold bullion holdings, alongside net realized gains and contributions from new Shares. However, the three-month period ending June 30, 2023, showed a net decrease in assets and NAV per Share, falling to $36.23 from $37.53 at the end of March. This decline was predominantly due to a 3.41% drop in the price of gold during the quarter. Despite this, the Trust maintains substantial holdings of physical gold bullion, valued at $27.59 billion as of June 30, 2023, and continues to operate with minimal expenses beyond the sponsor's fee.

Financial Highlights

6 data points
Beta

Net Income

-$1.01B

EPS (Diluted)

$-1.32

Free Cash Flow

$0.00

Financial Statements
Beta
Operating Expenses$17.92M
Operating Income-$17.92M
Net Income-$1.01B
EPS (Basic)$-1.32

Key Highlights

  • 1The Trust's total assets increased to $27.59 billion as of June 30, 2023, up from $26.16 billion as of December 31, 2022, reflecting an increase in the value of its gold bullion holdings.
  • 2Net asset value (NAV) per Share increased to $36.23 as of June 30, 2023, from $34.38 as of December 31, 2022, indicating a positive performance over the first six months of the year.
  • 3For the six months ended June 30, 2023, the Trust reported a net increase in net assets of approximately $1.34 billion, primarily driven by unrealized gains on gold bullion.
  • 4During the three months ended June 30, 2023, the Trust experienced a net decrease in net assets of approximately $1.01 billion, largely due to a decrease in the fair value of gold bullion.
  • 5The Trust holds 14,427,193 ounces of gold bullion, valued at $27,588,399,386 as of June 30, 2023.
  • 6Total expenses for the six months ended June 30, 2023, were $34.6 million, primarily consisting of sponsor's fees, which represent an annualized rate of 0.25% of the Trust's average net assets.

Frequently Asked Questions

The primary asset held by the iShares Gold Trust is physical gold bullion.

The Trust seeks to reflect generally the performance of the price of gold, before payment of the Trust's expenses and liabilities.

The main expense for the Trust is the sponsor's fee, which is accrued daily at an annualized rate of 0.25% of the net asset value. Other administrative and marketing expenses are generally assumed by the Sponsor.

Individual investors cannot directly buy or redeem Shares with the Trust. Shares are issued and redeemed by the Trust in aggregations (Baskets) with registered broker-dealers known as Authorized Participants, who then make those Shares available to individual investors on secondary markets like NYSE Arca under the ticker symbol IAU.