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BAR GraniteShares Gold Trust

Cover

Cover - shares9 Months Ended
Mar. 31, 2021May 05, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateMar. 31,
2021
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2021
Current Fiscal Year End Date--06-30
Entity File Number001-38195
Entity Registrant NameGRANITESHARES
GOLD TRUST
Entity Central Index Key0001690437
Entity Tax Identification Number82-6393903
Entity Incorporation, State or Country CodeNY
Entity Address, Address Line Onec/o
GraniteShares Inc
Entity Address, Address Line Two205
Hudson Street
Entity Address, Address Line Three7th Floor
Entity Address, City or TownNew
York
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code10013
City Area Code(646)
Local Phone Number876-5096
Title of 12(b) SecurityShares
Trading SymbolBAR
Security Exchange NameNYSE
Entity Current Reporting StatusNo
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companytrue
Elected Not To Use the Extended Transition Periodtrue
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding60,650,000

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($) $ in ThousandsMar. 31, 2021Jun. 30, 2020
Assets
Investment in gold bullion, at fair value[1] $ 1,005,708 $ 1,041,457
Total Assets1,005,708 1,041,457
Liabilities
Fees payable to Sponsor153 141
Total Liabilities153 141
Net Assets $ 1,005,555 $ 1,041,316
Shares issued and outstanding[2]59,850,000 59,200,000
Net asset value per Share $ 16.80 $ 17.59
[1]Cost
of investment in gold bullion: $ 910,835 839,963
[2]No unlimited

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Mar. 31, 2021Jun. 30, 2020
Investment Company [Abstract]
Cost of investment in gold bullion $ 910,835 $ 839,963
Common stock, no par value $ 0 $ 0
Common stock, shares authorizedUnlimitedUnlimited

Schedules of Investments (Unaud

Schedules of Investments (Unaudited) $ in ThousandsMar. 31, 2021USD ($)ozJun. 30, 2020USD ($)oz
Investment Company [Abstract]
Investment in Gold bullion (oz) | oz594,723.682 589,025.927
Cost $ 910,835 $ 839,963
Fair Value $ 1,005,708 $ 1,041,457
% of Net Assets100.02%100.01%
Less Liabilities in excess of other assets $ (153) $ (141)
Less Liabilities in excess of other assets, % of Net Assets(0.02%)(0.01%)
Net Assets $ 1,005,555 $ 1,041,316
Net Assets, % of Net Assets100.00%100.00%

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Expenses
Sponsor fees $ 468 $ 288 $ 1,543 $ 800
Total expenses468 288 1,543 800
Net investment loss(468)(288)(1,543)(800)
Net realized gain (loss) from:
Gold bullion sold to pay expenses78 46 309 109
Gold bullion distributed for the redemption of Shares5,248 2,068 49,813 6,731
Net realized gain5,326 2,114 50,122 6,840
Net change in unrealized appreciation (depreciation)(127,177)31,394 (106,621)70,912
Net realized and unrealized gain (loss)(121,851)33,508 (56,499)77,752
Net increase (decrease) in net assets resulting from operations $ (122,319) $ 33,220 $ (58,042) $ 76,952
Net increase (decrease) in net assets per share $ (2.01) $ 0.79 $ (0.91) $ 1.90
Weighted average number of shares (in 000’s)60,779 42,134 63,435 40,445

Statements of Changes in Net As

Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Investment Company [Abstract]
Net Assets – beginning of the period $ 1,111,849 $ 592,927 $ 1,041,316 $ 545,511
Creation of 3,350,000, 10,050,000, 15,800,000 and 12,550,000 shares respectively61,603 160,525 299,937 197,934
Redemption of 2,650,000, 900,000, 15,150,000 and 3,150,000 shares respectively(45,578)(14,027)(277,656)(47,752)
Net investment loss(468)(288)(1,543)(800)
Net realized gain gold bullion sold to pay expenses78 46 309 109
Net realized gain from gold bullion distributed for redemption5,248 2,068 49,813 6,731
Net Change in unrealized appreciation (depreciation) in investment in gold bullion(127,177)31,394 (106,621)70,912
Net Assets – end of period $ 1,005,555 $ 772,645 $ 1,005,555 $ 772,645

Statements of Changes in Net _2

Statements of Changes in Net Assets (Unaudited) (Parenthetical) - shares3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Creation of shares3,350,000 10,050,000 15,800,000 12,550,000
Redemption of shares2,650,000 900,000 15,150,000 3,150,000

Financial Highlights (Unaudited

Financial Highlights (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2021Mar. 31, 2020Mar. 31, 2021Mar. 31, 2020
Per Share Performance (for a Share outstanding throughout each period)
Net asset value per Share at beginning of period $ 18.80 $ 15.16 $ 17.59 $ 14.04
Net investment loss[1](0.01)(0.01)(0.02)(0.02)
Net realized and unrealized gain (loss) on investment in gold(1.99)0.86(0.77)1.99
Net change in net assets from operations(2)0.85(0.79)1.97
Net asset value per Share at end of period $ 16.80 $ 16.01 $ 16.80 $ 16.01
Total return, at net asset value[2](10.64%)5.61%(4.49%)14.03%
Net assets ($000’s) $ 1,005,555 $ 772,645 $ 1,005,555 $ 772,645
Ratio to average net assets
Net investment loss[3](0.17%)(0.17%)(0.17%)(0.17%)
Expenses[3]0.17%0.17%0.17%0.17%
[1]Calculated
using the average shares outstanding method
[2]Percentage
not annualized.
[3]Percentage
annualized.

Organization

Organization9 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization1.
Organization GraniteShares
Gold Trust (the “Trust”) is an investment trust formed on August 24, 2017 under New York law pursuant to a trust indenture.
The Sponsor of the Trust, GraniteShares LLC (the “Sponsor”), is responsible for, among other things, overseeing the performance
of The Bank of New York Mellon (the “Trustee”) and the Trust’s principal service providers, including the preparation
of financial statements. The Trustee is responsible for the day-to-day administration of the Trust. The
objective of the Trust is for the value of the Shares to reflect, at any given time, the value of the assets owned by the Trust at that
time less the Trust’s accrued expenses and liabilities as of that time. The Shares are intended to constitute a simple and cost-effective
means of making an investment similar to an investment in gold. On
February 26, 2019, the Trust announced a 10-for-1 Share split The
fiscal year end for the Trust is June 30. Undefined
capitalized terms shall have the meaning as set forth in the Trust’s registration statement.

Significant accounting policies

Significant accounting policies9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Significant accounting policies2.
Significant accounting policies The
Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting
Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that for reporting purposes,
the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act
of 1940 and is not required to register under such act. The
preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires
those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures.
Actual results could differ from those estimates. The
following is a summary of significant accounting policies followed by the Trust. 2.1
Valuation of Gold The
Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair
value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair
value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. Gold
is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom
vaulting premises. The cost of gold is determined according to the average cost method and the fair value is based on the London Bullion
Market Association (“LBMA”) PM Gold Price. If there is no LBMA Gold Price PM on any day, the Trustee is authorized to use
the most recently announced LBMA Gold Price AM unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate
as a basis for evaluation. The
LBMA PM Gold Price is set using the afternoon session of the ICE Benchmark Administration equilibrium auction, an electronic, tradable
and auditable over-the-counter auction market with the ability to participate in US Dollars, Euros or British Pounds for LBMA authorized
participating gold bullion banks or market makers that establishes a reference gold price for that day’s trading. The
per Share amount of gold exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA PM Gold Price to calculate
the gold amount in respect of any liabilities for which covering gold sales have not yet been made, and represents the per Share amount
of gold held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC
820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are
as follows: Level
1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level
2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.
These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar
data. Level
3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s
own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based
on the best information available. The
Trustee categorizes the Trust’s investment in gold as a level 1 asset within the ASC 820 hierarchy. 2.2
Expenses, realized gains and losses The
Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate
equal to 0.1749% The
Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and
out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United
States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain
legal expenses. As
of March 31, 2021, the fees payable to the Sponsor were $ 152,658 140,674 With
respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,
sell the Trust’s gold as necessary to pay these expenses. When selling gold to pay expenses, the Trustee will endeavor to sell
the smallest amounts of gold needed to pay these expenses in order to minimize the Trust’s holdings of assets other than gold.
Other than the Sponsor’s Fee, the Trust had no expenses during the three months and nine months ended March 31, 2021 and 2020. Unless
otherwise directed by the Sponsor, when selling gold the Trustee will endeavor to sell at the price established by the LBMA PM Gold Price.
The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable
price and execution of orders. The Custodian may be the purchaser of such gold only if the sale transaction is made at the next LBMA
PM Gold Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain
or loss is recognized based on the difference between the selling price and the cost of the gold sold. Neither the Trustee nor the Sponsor
is liable for depreciation or loss incurred by reason of any sale. Realized
gains and losses result from the transfer of gold for Share redemptions and / or to pay expenses and are recognized on a trade date basis
as the difference between the fair value and cost of gold transferred. Gain or loss on sales of gold bullion is calculated on a trade
date basis using the average cost method. 2.3.
Gold Receivable and Payable Gold
receivable or payable represents the quantity of gold covered by contractually binding orders for the creation or redemption of Shares
respectively, where the gold has not yet been transferred to or from the Trust’s account. Generally, ownership of the gold is transferred
within two business days of the trade date. 2.4
Creations and Redemptions of Shares The
Trust issues and redeems in one or more blocks of 50,000 Orders
to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer
or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration,
would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have
an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards
described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor
and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the
delivery of the gold required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached
thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee
of $ 500 430 Authorized
Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation
or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor
or the Trust to effect any sale or resale of shares. 2.5
Income Taxes The
Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will
not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to
the Shareholders, and the Trustee will report the Trust’s income, gains, losses and deductions to the Internal Revenue Service
on that basis. The
Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined
that no reserves for uncertain tax positions are required as of March 31, 2021 and June 30, 2020. The
Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether
the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to
meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax
years are those years that are open for examination by the relevant income taxing authority. As of March 31, 2021, the 2020, 2019 and
2018 tax years remain open for examination. 2.6
Emerging Growth Company qualification The
Trust is an “emerging growth company” as defined in the JOBS Act, and as such, is permitted to meet reduced public company
reporting requirements.

Investment in gold

Investment in gold9 Months Ended
Mar. 31, 2021
Schedule of Investments [Abstract]
Investment in gold3.
Investment in gold Changes
in ounces of gold and their respective values for the nine months ended March 31, 2021. Schedule of Investment in Gold
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2020 589,025.927 1,041,457
Gold bullion contributed 157,123.380 299,937
Gold bullion distributed (151,425.625 ) (229,065 )
Change in unrealized depreciation – (106,621 )
Ending balance as of March 31, 2021 594,723.682 1,005,708 Changes
in ounces of gold and their respective values for the fiscal year ended June 30, 2020.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2019 387,215.425 545,586
Gold bullion contributed 233,902.465 384,945
Gold bullion distributed (32,091.963 ) (41,977 )
Change in unrealized appreciation – 152,903
Ending balance as of June 30, 2020 589,025.927 1,041,457

Related parties _ Sponsor and T

Related parties – Sponsor and Trustee9 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related parties – Sponsor and Trustee4.
Related parties – Sponsor and Trustee A
fee is paid to the Sponsor as compensation for services performed under the Trust Agreement. In exchange for the Sponsor’s fee,
the Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee and
out-of-pocket expenses, the custodian’s fee and reimbursement of the custodian expenses, NYSE Arca listing fees, SEC registration
fees, printing and mailing costs, audit fees and expenses, and up to $ 100,000 0.1749% The
Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee at its discretion for a stated period of
time. Presently, the Sponsor does not intend to waive any part of its fee. Affiliates
of the Trustee, may from time to time act as Authorized Participants or purchase or sell gold or Shares for their own account, as agent
for their customers and for accounts over which they exercise investment discretion.

Concentration of risk

Concentration of risk9 Months Ended
Mar. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of risk5.
Concentration of risk In
accordance with Statement of Position No. 94-6, Disclosure of Certain Significant Risks and Uncertainties, the Trust’s sole business
activity is the investment in gold bullion. Several factors could affect the price of gold: (i) global gold supply and demand, which
is influenced by such factors as forward selling by gold producers, purchases made by gold producers to unwind gold hedge positions,
central bank purchases and sales, and production and cost levels in major gold-producing countries; (ii) investors’ expectations
with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge
funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is
no assurance that gold will maintain its long-term value in terms of purchasing power in the future. In the event that the price of gold
declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a
material effect on the Trust’s financial position and results of operations.

Indemnification

Indemnification9 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Indemnification6.
Indemnification Under
the Trust’s organizational documents, each of the Trustee (and its directors, officers, employees, shareholders, agents and affiliates)
and the Sponsor (and its members, managers, directors, officers, employees, agents and affiliates) is indemnified against any liability,
loss or expense it incurs without (i) gross negligence, bad faith, willful misconduct or willful misfeasance on its part in connection
with the performance of its obligations under the Trust Agreement or any such other agreement or any actions taken in accordance with
the provisions of the Trust Agreement or any such other agreement and (ii) reckless disregard on its part of its obligations and duties
under the Trust Agreement or any such other agreement. Such indemnity shall also include payment from the Trust of the reasonable costs
and expenses incurred by the indemnified party in investigating or defending itself against any such loss, liability or expense or any
claim therefore. In addition, the Sponsor may, in its sole discretion, undertake any action that it may deem necessary or desirable in
respect of the Trust Agreement and in such event, the reasonable legal expenses and costs and other disbursements of any such actions
shall be expenses and costs of the Trust and the Sponsor shall be entitled to reimbursement by the Trust. The Trust’s maximum exposure
under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

Subsequent events

Subsequent events9 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent events7.
Subsequent events

Significant accounting polici_2

Significant accounting policies (Policies)9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Valuation of Gold2.1
Valuation of Gold The
Trust follows the provisions of ASC 820, Fair Value Measurements (“ASC 820”). ASC 820 provides guidance for determining fair
value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair
value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. Gold
is held by ICBC Standard Bank Plc (the “Custodian”), on behalf of the Trust, at the Custodian’s London, United Kingdom
vaulting premises. The cost of gold is determined according to the average cost method and the fair value is based on the London Bullion
Market Association (“LBMA”) PM Gold Price. If there is no LBMA Gold Price PM on any day, the Trustee is authorized to use
the most recently announced LBMA Gold Price AM unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate
as a basis for evaluation. The
LBMA PM Gold Price is set using the afternoon session of the ICE Benchmark Administration equilibrium auction, an electronic, tradable
and auditable over-the-counter auction market with the ability to participate in US Dollars, Euros or British Pounds for LBMA authorized
participating gold bullion banks or market makers that establishes a reference gold price for that day’s trading. The
per Share amount of gold exchanged for a purchase or redemption is calculated daily by the Trustee, using the LBMA PM Gold Price to calculate
the gold amount in respect of any liabilities for which covering gold sales have not yet been made, and represents the per Share amount
of gold held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. ASC
820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are
as follows: Level
1: Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Level
2: Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.
These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar
data. Level
3: Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s
own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based
on the best information available. The
Trustee categorizes the Trust’s investment in gold as a level 1 asset within the ASC 820 hierarchy.
Expenses, realized gains and losses2.2
Expenses, realized gains and losses The
Trust’s only ordinary recurring fee is expected to be the fee paid to the Sponsor, which will accrue daily at an annualized rate
equal to 0.1749% The
Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and
out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United
States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain
legal expenses. As
of March 31, 2021, the fees payable to the Sponsor were $ 152,658 140,674 With
respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,
sell the Trust’s gold as necessary to pay these expenses. When selling gold to pay expenses, the Trustee will endeavor to sell
the smallest amounts of gold needed to pay these expenses in order to minimize the Trust’s holdings of assets other than gold.
Other than the Sponsor’s Fee, the Trust had no expenses during the three months and nine months ended March 31, 2021 and 2020. Unless
otherwise directed by the Sponsor, when selling gold the Trustee will endeavor to sell at the price established by the LBMA PM Gold Price.
The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable
price and execution of orders. The Custodian may be the purchaser of such gold only if the sale transaction is made at the next LBMA
PM Gold Price or such other publicly available price that the Sponsor deems fair, in each case as set following the sale order. A gain
or loss is recognized based on the difference between the selling price and the cost of the gold sold. Neither the Trustee nor the Sponsor
is liable for depreciation or loss incurred by reason of any sale. Realized
gains and losses result from the transfer of gold for Share redemptions and / or to pay expenses and are recognized on a trade date basis
as the difference between the fair value and cost of gold transferred. Gain or loss on sales of gold bullion is calculated on a trade
date basis using the average cost method.
Gold Receivable and Payable2.3.
Gold Receivable and Payable Gold
receivable or payable represents the quantity of gold covered by contractually binding orders for the creation or redemption of Shares
respectively, where the gold has not yet been transferred to or from the Trust’s account. Generally, ownership of the gold is transferred
within two business days of the trade date.
Creations and Redemptions of Shares2.4
Creations and Redemptions of Shares The
Trust issues and redeems in one or more blocks of 50,000 Orders
to create and redeem Baskets may be placed only by Authorized Participants. An Authorized Participant must: (1) be a registered broker-dealer
or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration,
would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have
an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards
described herein. To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor
and the Trustee. The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the
delivery of the gold required for such creations and redemptions. The Authorized Participant Agreement and the related procedures attached
thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant. A transaction fee
of $ 500 430 Authorized
Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation
or inducement of any kind from either the Sponsor or the Trust, and no such person has any obligation or responsibility to the Sponsor
or the Trust to effect any sale or resale of shares.
Income Taxes2.5
Income Taxes The
Trust is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust itself will
not be subject to United States federal income tax. Instead, the Trust’s income and expenses will “flow through” to
the Shareholders, and the Trustee will report the Trust’s income, gains, losses and deductions to the Internal Revenue Service
on that basis. The
Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined
that no reserves for uncertain tax positions are required as of March 31, 2021 and June 30, 2020. The
Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine whether
the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to
meet that threshold would be recorded as an expense in the current year. The Trust is required to analyze all open tax years. Open tax
years are those years that are open for examination by the relevant income taxing authority. As of March 31, 2021, the 2020, 2019 and
2018 tax years remain open for examination.
Emerging Growth Company qualification2.6
Emerging Growth Company qualification The
Trust is an “emerging growth company” as defined in the JOBS Act, and as such, is permitted to meet reduced public company
reporting requirements.

Investment in gold (Tables)

Investment in gold (Tables)9 Months Ended
Mar. 31, 2021
Schedule of Investments [Abstract]
Schedule of Investment in GoldChanges
in ounces of gold and their respective values for the nine months ended March 31, 2021. Schedule of Investment in Gold
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2020 589,025.927 1,041,457
Gold bullion contributed 157,123.380 299,937
Gold bullion distributed (151,425.625 ) (229,065 )
Change in unrealized depreciation – (106,621 )
Ending balance as of March 31, 2021 594,723.682 1,005,708 Changes
in ounces of gold and their respective values for the fiscal year ended June 30, 2020.
Amounts in 000’s of US$, except for ounces data Ounces Fair Value
Opening balance as of June 30, 2019 387,215.425 545,586
Gold bullion contributed 233,902.465 384,945
Gold bullion distributed (32,091.963 ) (41,977 )
Change in unrealized appreciation – 152,903
Ending balance as of June 30, 2020 589,025.927 1,041,457

Organization (Details Narrative

Organization (Details Narrative)Feb. 26, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Share split of shareholders10-for-1 Share split

Significant accounting polici_3

Significant accounting policies (Details Narrative)9 Months Ended
Mar. 31, 2021USD ($)sharesJun. 30, 2020USD ($)oz
Accounting Policies [Abstract]
Fee paid to sponsor percentage0.1749%
Fees payable to sponsor $ 152,658 $ 140,674
Minimum block of shares issued redeemed | shares50,000
Transaction fee for creations and redemptions $ 500
Maximum amount of gold to be held by trust unallocated account | oz430

Schedule of Investment in Gold

Schedule of Investment in Gold (Details) $ in Thousands9 Months Ended12 Months Ended
Mar. 31, 2021USD ($)ozJun. 30, 2020USD ($)oz
Schedule of Investments [Abstract]
Opening balance (in Ounces) | oz589,025.927 387,215.425
Investment in gold, fair value, opening balance | $ $ 1,041,457 [1] $ 545,586
Gold bullion contributed (in Ounces) | oz157,123.380 233,902.465
Gold bullion contributed | $ $ 299,937 $ 384,945
Gold bullion distributed (in Ounces) | oz(151,425.625)(32,091.963)
Gold bullion distributed | $ $ (229,065) $ (41,977)
Change in unrealized appreciation (depreciation) (in Ounces) | oz
Change in unrealized appreciation (depreciation) | $ $ (106,621) $ 152,903
Closing balance (in Ounces) | oz594,723.682 589,025.927
Investment in gold, fair value, closing balance | $[1] $ 1,005,708 $ 1,041,457
[1]Cost
of investment in gold bullion: $ 910,835 839,963

Related parties _ Sponsor and_2

Related parties – Sponsor and Trustee (Details Narrative)9 Months Ended
Mar. 31, 2021USD ($)
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Fee paid to sponsor percentage0.1749%
Maximum [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Legal fees and expenses $ 100,000