iShares Gold Trust (IAU) 10-Q5 Nov 202020 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2020	Oct. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001278680
Entity Registrant Name	ISHARES GOLD TRUST
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-32418
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	81-6124036
Entity Address, Address Line One	400 Howard Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	670-2000
Title of 12(b) Security	Shares
Trading Symbol	IAU
Security Exchange Name	NYSEArca
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,776,800,000

Statements of Assets and Liabil

Statements of Assets and Liabilities (Unaudited) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Assets
Investment in gold bullion, at fair value	[1]	$ 31,436,617,757	$ 17,632,155,037
Total Assets		31,436,617,757	17,632,155,037
Liabilities
Sponsor's fees payable		6,535,329	3,629,955
Total Liabilities		6,535,329	3,629,955
Commitments and contingent liabilities (Note 6)
Net Assets		$ 31,430,082,428	$ 17,628,525,082
Shares issued and outstanding (in shares)	[2]	1,746,150,000	1,211,150,000
Net asset value per Share (Note 2C) (in dollars per share)		$ 18	$ 14.56

[1]	Cost of investment in gold bullion: $24,368,528,904 and $15,094,673,874, respectively.
[2]	No par value, unlimited amount authorized.

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investment in gold bullion, cost	$ 24,368,528,904	$ 15,094,673,874
Shares, par value (in dollars per share)	$ 0	$ 0
Shares, issued (in shares)	1,746,150,000	1,211,150,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
Statements of Operations (Unaudited) - USD ($)		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Expenses
Sponsor's fees		$ 19,078,049	$ 9,387,230	$ 45,528,664	$ 24,627,987
Total expenses		19,078,049	9,387,230	45,528,664	24,627,987
Net investment loss		(19,078,049)	(9,387,230)	(45,528,664)	(24,627,987)
Net Realized and Unrealized Gain (Loss)
Gold bullion sold to pay expenses		4,403,639	1,062,683	8,697,832	1,623,270
Gold bullion distributed for the redemption of Shares		73,471,118	17,280,094	279,243,655	44,977,246
Net realized gain		77,874,757	18,342,777	287,941,487	46,600,516
Net change in unrealized appreciation/depreciation		1,620,716,613	706,990,277	4,530,607,690	1,833,666,100
Net realized and unrealized gain		1,698,591,370	725,333,054	4,818,549,177	1,880,266,616
Net increase in net assets resulting from operations		$ 1,679,513,321	$ 715,945,824	$ 4,773,020,513	$ 1,855,638,629
Net increase in net assets per Share (in dollars per share)	[1]	$ 1	$ 0.68	$ 3.27	$ 1.84

[1]	Net increase in net assets per Share based on average shares outstanding during the period.

Statements of Changes in Net As

Statements of Changes in Net Assets (Unaudited) - USD ($)	3 Months Ended						9 Months Ended
Statements of Changes in Net Assets (Unaudited) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Assets, Beginning of Period	$ 25,912,624,790	$ 20,223,180,272	$ 17,628,525,082	$ 13,346,432,796	$ 12,556,331,670	$ 11,544,738,146	$ 17,628,525,082	$ 11,544,738,146
Operations:
Net investment loss	(19,078,049)	(14,632,446)	(11,818,169)	(9,387,230)	(7,621,405)	(7,619,352)	(45,528,664)	(24,627,987)
Net realized gain	77,874,757	58,420,248	151,646,482	18,342,777	22,410,307	5,847,432	287,941,487	46,600,516
Net change in unrealized appreciation/depreciation	1,620,716,613	2,078,877,217	831,013,860	706,990,277	1,012,499,328	114,176,495	4,530,607,690	1,833,666,100
Net increase in net assets resulting from operations	1,679,513,321	2,122,665,019	970,842,173	715,945,824	1,027,288,230	112,404,575	4,773,020,513	1,855,638,629
Capital Share Transactions:
Contributions for Shares issued	4,165,602,762	3,865,881,490	2,615,209,304	2,411,110,878	739,781,522	1,064,902,289
Distributions for Shares redeemed	(327,658,445)	(299,101,991)	(991,396,287)	(120,691,118)	(976,968,626)	(165,713,340)
Net increase (decrease) in net assets from capital share transactions	3,837,944,317	3,566,779,499	1,623,813,017	2,290,419,760	(237,187,104)	899,188,949
Increase in net assets	5,517,457,638	5,689,444,518	2,594,655,190	3,006,365,584	790,101,126	1,011,593,524
Net Assets, End of Period	$ 31,430,082,428	$ 25,912,624,790	$ 20,223,180,272	$ 16,352,798,380	$ 13,346,432,796	$ 12,556,331,670	$ 31,430,082,428	$ 16,352,798,380
Shares issued and redeemed
Shares issued (in shares)							638,500,000	312,500,000
Shares redeemed (in shares)							(103,500,000)	(101,400,000)
Net increase in Shares issued and outstanding (in shares)							535,000,000	211,100,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
Statements of Cash Flows (Unaudited) - USD ($)	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities
Proceeds from gold bullion sold to pay expenses					$ 42,623,290	$ 23,662,396
Expenses – Sponsor's fees paid					(42,623,290)	(23,662,396)
Net cash provided by (used in) operating activities					0	0
Increase (decrease) in cash					0	0
Cash, beginning of period		$ 0		$ 0	0	0
Cash, end of period	$ 0		$ 0		0	0
Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities
Net increase in net assets resulting from operations	1,679,513,321	970,842,173	715,945,824	112,404,575	4,773,020,513	1,855,638,629
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Proceeds from gold bullion sold to pay expenses					42,623,290	23,662,396
Net realized (gain) loss	(77,874,757)	(151,646,482)	(18,342,777)	(5,847,432)	(287,941,487)	(46,600,516)
Net change in unrealized appreciation/depreciation	$ (1,620,716,613)	$ (831,013,860)	$ (706,990,277)	$ (114,176,495)	(4,530,607,690)	(1,833,666,100)
Change in operating assets and liabilities:
Sponsor’s fees payable					2,905,374	965,591
Net cash provided by (used in) operating activities					0	0
Supplemental disclosure of non-cash information:
Gold bullion contributed for Shares issued					10,646,693,556	4,215,794,689
Gold bullion distributed for Shares redeemed					$ (1,618,156,723)	$ (1,263,373,084)

Schedules of Investments (Unaud

Schedules of Investments (Unaudited)	9 Months Ended
Schedules of Investments (Unaudited)	Sep. 30, 2020
Notes to Financial Statements
Investment Holdings, Schedule of Investments [Text Block]	® Gold Trust Schedules of Investments (Unaudited) At September 30, 2020 December 31, 2019 September 30, 2020 Description Ounces Cost Fair Value Gold bullion 16,660,458 $ 24,368,528,904 $ 31,436,617,757 Total Investments — 100.02% $ 31,436,617,757 Less Liabilities — (0.02)% (6,535,329 ) Net Assets — 100.00% $ 31,430,082,428 December 31, 2019 Description Ounces Cost Fair Value Gold bullion 11,577,252 $ 15,094,673,874 $ 17,632,155,037 Total Investments — 100.02% $ 17,632,155,037 Less Liabilities — (0.02)% (3,629,955 ) Net Assets — 100.00% $ 17,628,525,082 See notes to financial statements.

Note 1 - Organization

Note 1 - Organization	9 Months Ended
Note 1 - Organization	Sep. 30, 2020
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1 - Organization The iShares Gold Trust (the “Trust”) was organized on January 21, 2005 December 22, 2016. The Trust seeks to reflect generally the performance of the price of gold. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in gold. The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions for Form 10 not 10 December 31, 2019, February 27, 2020. The Trust qualifies as an investment company solely for accounting purposes and not 946, Financial Services - Investment Companies, not not 1940,

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
Note 2 - Significant Accounting Policies	Sep. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2 - Significant Accounting Policies A. Basis of The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation. B. Gold Bullion JPMorgan Chase Bank N.A., London branch (the “Custodian”), is responsible for the safekeeping of gold bullion owned by the Trust. Fair value of the gold bullion held by the Trust is based on that day’s London Bullion Market Association (“LBMA”) Gold Price PM. “LBMA Gold Price PM” is the price per fine troy ounce of gold, stated in U.S. dollars, determined by ICE Benchmark Administration (“IBA”) following an electronic auction consisting of one 30 second 3:00 no 10:30 Gain or loss on sales of gold bullion is calculated on a trade date basis using the average cost method. The following tables summarize activity in gold bullion for the three September 30, 2020 2019: Three Months Ended September 30, 2020 Ounces Cost Fair Realized (Loss) Beginning balance 14,658,518 $ 20,470,354,346 $ 25,917,726,586 $ — Gold bullion contributed 2,187,720 4,165,602,762 4,165,602,762 — Gold bullion distributed (176,520 ) (254,187,327 ) (327,658,445 ) 73,471,118 Gold bullion sold to pay expenses (9,260 ) (13,240,877 ) (17,644,516 ) 4,403,639 Net realized gain — — 77,874,757 — Net change in unrealized appreciation/depreciation — — 1,620,716,613 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 77,874,757 Three Months Ended September 30, 2019 Ounces Cost Fair Realized (Loss) Beginning balance 9,474,090 $ 11,930,367,963 $ 13,348,992,576 $ — Gold bullion contributed 1,625,180 2,411,110,878 2,411,110,878 — Gold bullion distributed (81,313 ) (103,411,024 ) (120,691,118 ) 17,280,094 Gold bullion sold to pay expenses (5,970 ) (7,578,716 ) (8,641,399 ) 1,062,683 Net realized gain — — 18,342,777 — Net change in unrealized appreciation/depreciation — — 706,990,277 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 18,342,777 The following tables summarize activity in gold bullion for the nine September 30, 2020 2019: Nine Months Ended September 30, 2020 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 11,577,252 $ 15,094,673,874 $ 17,632,155,037 $ — Gold bullion contributed 6,096,339 10,646,693,556 10,646,693,556 — Gold bullion distributed (988,456 ) (1,338,913,068 ) (1,618,156,723 ) 279,243,655 Gold bullion sold to pay expenses (24,677 ) (33,925,458 ) (42,623,290 ) 8,697,832 Net realized gain — — 287,941,487 — Net change in unrealized appreciation/depreciation — — 4,530,607,690 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 287,941,487 Nine Months Ended September 30, 2019 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 9,009,541 $ 11,255,129,376 $ 11,547,078,166 $ — Gold bullion contributed 2,990,628 4,215,794,689 4,215,794,689 — Gold bullion distributed (970,668 ) (1,218,395,838 ) (1,263,373,084 ) 44,977,246 Gold bullion sold to pay expenses (17,514 ) (22,039,126 ) (23,662,396 ) 1,623,270 Net realized gain — — 46,600,516 — Net change in unrealized appreciation/depreciation — — 1,833,666,100 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 46,600,516 C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00 D. Offering of the Shares Trust Shares are issued and redeemed continuously in aggregations of 50,000 Shares in exchange for gold bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”). Holders of Shares of the Trust may provided may not The per Share amount of gold exchanged for a purchase or redemption represents the per Share amount of gold held by the Trust, after giving effect to its liabilities. When gold bullion is exchanged in settlement of a redemption, it is considered a sale of gold bullion for accounting purposes. E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of September 30, 2020 not

Note 3 - Trust Expenses

Note 3 - Trust Expenses	9 Months Ended
Note 3 - Trust Expenses	Sep. 30, 2020
Notes to Financial Statements
Trust Expenses [Text Block]	3 - Trust Expenses The Trust pays to the Sponsor a Sponsor’s fee that accrues daily at an annualized rate equal to 0.25% of the net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee, the Custodian’s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to $100,000 per annum in legal fees and expenses.

Note 4 - Related Parties

Note 4 - Related Parties	9 Months Ended
Note 4 - Related Parties	Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4 - Related Parties The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not

Note 5 - Indemnification

Note 5 - Indemnification	9 Months Ended
Note 5 - Indemnification	Sep. 30, 2020
Notes to Financial Statements
Indemnification [Text Block]	5 - Indemnification The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees and agents against, and hold each of them harmless from, any loss, liability, cost, expense or judgment (including reasonable fees and expenses of counsel) (i) caused by the negligence or bad faith of the Trustee or (ii) arising out of any information furnished in writing to the Sponsor by the Trustee expressly for use in the registration statement, or any amendment thereto or periodic or other report filed with the SEC relating to the Shares that is not The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of 1933, 1 2 The Trust has agreed that the Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Custodian’s negligence, fraud or willful default in the performance of its duties.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingent Liabilities	9 Months Ended
Note 6 - Commitments and Contingent Liabilities	Sep. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6 - Commitments and Contingent Liabilities In the normal course of business, the Trust may may not

Note 7 - Concentration Risk

Note 7 - Concentration Risk	9 Months Ended
Note 7 - Concentration Risk	Sep. 30, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	7 - Concentration Risk Substantially all of the Trust’s assets are holdings of gold bullion, which creates a concentration risk associated with fluctuations in the price of gold. Accordingly, a decline in the price of gold will have an adverse effect on the value of the Shares of the Trust. Factors that may

Note 8 - Financial Highlights

Note 8 - Financial Highlights	9 Months Ended
Note 8 - Financial Highlights	Sep. 30, 2020
Notes to Financial Statements
Financial Highlights [Text Block]	8 - Financial Highlights The following financial highlights relate to investment performance and operations for a Share outstanding for the three nine September 30, 2020 2019. Three Months Ended 30, Nine Months Ended 30, 2020 2019 2020 2019 Net asset value per Share, beginning of period $ 16.88 $ 13.48 $ 14.56 $ 12.28 Net investment loss (a) (0.01 ) (0.01 ) (0.03 ) (0.02 ) Net realized and unrealized gain (b) 1.13 0.73 3.47 1.94 Net increase in net assets from operations 1.12 0.72 3.44 1.92 Net asset value per Share, end of period $ 18.00 $ 14.20 $ 18.00 $ 14.20 Total return, at net asset value (c)(d) 6.64 % 5.34 % 23.63 % 15.64 % Ratio to average net assets: Net investment loss (e) (0.25 )% (0.25 )% (0.25 )% (0.25 )% Expenses (e) 0.25 % 0.25 % 0.25 % 0.25 % (a) Based on average Shares outstanding during the period. (b) The amounts reported for a Share outstanding may not (c) Based on the change in net asset value of a Share during the period. (d) Percentage is not (e) Percentage is annualized.

Note 9 - Investment Valuation

Note 9 - Investment Valuation	9 Months Ended
Note 9 - Investment Valuation	Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 - Investment Valuation U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust’s policy is to value its investment at fair value. Various inputs are used in determining the fair value of assets and liabilities. Inputs may may three three Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 not Level 3 Unobservable inputs that are unobservable for the asset or liability, including the Trust’s assumptions used in determining the fair value of investments. At September 30, 2020 December 31, 2019, 1.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	A. Basis of The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.
Investment, Policy [Policy Text Block]	B. Gold Bullion JPMorgan Chase Bank N.A., London branch (the “Custodian”), is responsible for the safekeeping of gold bullion owned by the Trust. Fair value of the gold bullion held by the Trust is based on that day’s London Bullion Market Association (“LBMA”) Gold Price PM. “LBMA Gold Price PM” is the price per fine troy ounce of gold, stated in U.S. dollars, determined by ICE Benchmark Administration (“IBA”) following an electronic auction consisting of one 30 second 3:00 no 10:30 Gain or loss on sales of gold bullion is calculated on a trade date basis using the average cost method. The following tables summarize activity in gold bullion for the three September 30, 2020 2019: Three Months Ended September 30, 2020 Ounces Cost Fair Realized (Loss) Beginning balance 14,658,518 $ 20,470,354,346 $ 25,917,726,586 $ — Gold bullion contributed 2,187,720 4,165,602,762 4,165,602,762 — Gold bullion distributed (176,520 ) (254,187,327 ) (327,658,445 ) 73,471,118 Gold bullion sold to pay expenses (9,260 ) (13,240,877 ) (17,644,516 ) 4,403,639 Net realized gain — — 77,874,757 — Net change in unrealized appreciation/depreciation — — 1,620,716,613 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 77,874,757 Three Months Ended September 30, 2019 Ounces Cost Fair Realized (Loss) Beginning balance 9,474,090 $ 11,930,367,963 $ 13,348,992,576 $ — Gold bullion contributed 1,625,180 2,411,110,878 2,411,110,878 — Gold bullion distributed (81,313 ) (103,411,024 ) (120,691,118 ) 17,280,094 Gold bullion sold to pay expenses (5,970 ) (7,578,716 ) (8,641,399 ) 1,062,683 Net realized gain — — 18,342,777 — Net change in unrealized appreciation/depreciation — — 706,990,277 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 18,342,777 The following tables summarize activity in gold bullion for the nine September 30, 2020 2019: Nine Months Ended September 30, 2020 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 11,577,252 $ 15,094,673,874 $ 17,632,155,037 $ — Gold bullion contributed 6,096,339 10,646,693,556 10,646,693,556 — Gold bullion distributed (988,456 ) (1,338,913,068 ) (1,618,156,723 ) 279,243,655 Gold bullion sold to pay expenses (24,677 ) (33,925,458 ) (42,623,290 ) 8,697,832 Net realized gain — — 287,941,487 — Net change in unrealized appreciation/depreciation — — 4,530,607,690 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 287,941,487 Nine Months Ended September 30, 2019 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 9,009,541 $ 11,255,129,376 $ 11,547,078,166 $ — Gold bullion contributed 2,990,628 4,215,794,689 4,215,794,689 — Gold bullion distributed (970,668 ) (1,218,395,838 ) (1,263,373,084 ) 44,977,246 Gold bullion sold to pay expenses (17,514 ) (22,039,126 ) (23,662,396 ) 1,623,270 Net realized gain — — 46,600,516 — Net change in unrealized appreciation/depreciation — — 1,833,666,100 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 46,600,516
Calculation of Net Asset Value [Policy Text Block]	C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00
Offering of the Shares [Policy Text Block]	D. Offering of the Shares Trust Shares are issued and redeemed continuously in aggregations of 50,000 Shares in exchange for gold bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”). Holders of Shares of the Trust may provided may not The per Share amount of gold exchanged for a purchase or redemption represents the per Share amount of gold held by the Trust, after giving effect to its liabilities. When gold bullion is exchanged in settlement of a redemption, it is considered a sale of gold bullion for accounting purposes.
Income Tax, Policy [Policy Text Block]	E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of September 30, 2020 not

Schedules of Investments (Una_2

Schedules of Investments (Unaudited) (Tables)	9 Months Ended
Schedules of Investments (Unaudited) (Tables)	Sep. 30, 2020
Notes Tables
Investment [Table Text Block]	September 30, 2020 Description Ounces Cost Fair Value Gold bullion 16,660,458 $ 24,368,528,904 $ 31,436,617,757 Total Investments — 100.02% $ 31,436,617,757 Less Liabilities — (0.02)% (6,535,329 ) Net Assets — 100.00% $ 31,430,082,428 December 31, 2019 Description Ounces Cost Fair Value Gold bullion 11,577,252 $ 15,094,673,874 $ 17,632,155,037 Total Investments — 100.02% $ 17,632,155,037 Less Liabilities — (0.02)% (3,629,955 ) Net Assets — 100.00% $ 17,628,525,082

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	9 Months Ended
Note 2 - Significant Accounting Policies (Tables)	Sep. 30, 2020
Notes Tables
Activity in Gold Bullion [Table Text Block]	Three Months Ended September 30, 2020 Ounces Cost Fair Realized (Loss) Beginning balance 14,658,518 $ 20,470,354,346 $ 25,917,726,586 $ — Gold bullion contributed 2,187,720 4,165,602,762 4,165,602,762 — Gold bullion distributed (176,520 ) (254,187,327 ) (327,658,445 ) 73,471,118 Gold bullion sold to pay expenses (9,260 ) (13,240,877 ) (17,644,516 ) 4,403,639 Net realized gain — — 77,874,757 — Net change in unrealized appreciation/depreciation — — 1,620,716,613 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 77,874,757 Three Months Ended September 30, 2019 Ounces Cost Fair Realized (Loss) Beginning balance 9,474,090 $ 11,930,367,963 $ 13,348,992,576 $ — Gold bullion contributed 1,625,180 2,411,110,878 2,411,110,878 — Gold bullion distributed (81,313 ) (103,411,024 ) (120,691,118 ) 17,280,094 Gold bullion sold to pay expenses (5,970 ) (7,578,716 ) (8,641,399 ) 1,062,683 Net realized gain — — 18,342,777 — Net change in unrealized appreciation/depreciation — — 706,990,277 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 18,342,777 Nine Months Ended September 30, 2020 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 11,577,252 $ 15,094,673,874 $ 17,632,155,037 $ — Gold bullion contributed 6,096,339 10,646,693,556 10,646,693,556 — Gold bullion distributed (988,456 ) (1,338,913,068 ) (1,618,156,723 ) 279,243,655 Gold bullion sold to pay expenses (24,677 ) (33,925,458 ) (42,623,290 ) 8,697,832 Net realized gain — — 287,941,487 — Net change in unrealized appreciation/depreciation — — 4,530,607,690 — Ending balance 16,660,458 $ 24,368,528,904 $ 31,436,617,757 $ 287,941,487 Nine Months Ended September 30, 2019 Ounces Cost Fair Value Realized Gain (Loss) Beginning balance 9,009,541 $ 11,255,129,376 $ 11,547,078,166 $ — Gold bullion contributed 2,990,628 4,215,794,689 4,215,794,689 — Gold bullion distributed (970,668 ) (1,218,395,838 ) (1,263,373,084 ) 44,977,246 Gold bullion sold to pay expenses (17,514 ) (22,039,126 ) (23,662,396 ) 1,623,270 Net realized gain — — 46,600,516 — Net change in unrealized appreciation/depreciation — — 1,833,666,100 — Ending balance 11,011,987 $ 14,230,489,101 $ 16,356,103,991 $ 46,600,516

Note 8 - Financial Highlights (

Note 8 - Financial Highlights (Tables)	9 Months Ended
Note 8 - Financial Highlights (Tables)	Sep. 30, 2020
Notes Tables
Financial Highlights [Table Text Block]	Three Months Ended 30, Nine Months Ended 30, 2020 2019 2020 2019 Net asset value per Share, beginning of period $ 16.88 $ 13.48 $ 14.56 $ 12.28 Net investment loss (a) (0.01 ) (0.01 ) (0.03 ) (0.02 ) Net realized and unrealized gain (b) 1.13 0.73 3.47 1.94 Net increase in net assets from operations 1.12 0.72 3.44 1.92 Net asset value per Share, end of period $ 18.00 $ 14.20 $ 18.00 $ 14.20 Total return, at net asset value (c)(d) 6.64 % 5.34 % 23.63 % 15.64 % Ratio to average net assets: Net investment loss (e) (0.25 )% (0.25 )% (0.25 )% (0.25 )% Expenses (e) 0.25 % 0.25 % 0.25 % 0.25 %

Schedules of Investments (Una_3

Schedules of Investments (Unaudited) - Investments (Details)	Sep. 30, 2020USD ($)oz	Jun. 30, 2020USD ($)oz	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)oz	Sep. 30, 2019USD ($)oz	Jun. 30, 2019USD ($)oz	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)oz
Gold bullion (Ounce) \| oz	16,660,458	14,658,518		11,577,252	11,011,987	9,474,090		9,009,541
Investment in gold bullion, cost	$ 24,368,528,904	$ 20,470,354,346		$ 15,094,673,874	$ 14,230,489,101	$ 11,930,367,963		$ 11,255,129,376
Gold bullion fair value	31,436,617,757			17,632,155,037
Less Liabilities	(6,535,329)			(3,629,955)
Net Assets	$ 31,430,082,428	$ 25,912,624,790	$ 20,223,180,272	$ 17,628,525,082	$ 16,352,798,380	$ 13,346,432,796	$ 12,556,331,670	$ 11,544,738,146

Schedules of Investments (Una_4

Schedules of Investments (Unaudited) - Investments (Details) (Parentheticals)	Sep. 30, 2020	Dec. 31, 2019
Total investment, percentage of net asset value	100.02%	100.02%
Less liabilities, percentage of net asset value	(0.02%)	(0.02%)
Net assets, percentage of net asset value	100.00%	100.00%

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)	Sep. 30, 2020shares
Shares Prescribed Aggregation (in shares)	50,000

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Activity in Gold Bullion (Details)	3 Months Ended								9 Months Ended
	Sep. 30, 2020USD ($)oz		Jun. 30, 2020USD ($)oz	Mar. 31, 2020USD ($)oz		Sep. 30, 2019USD ($)oz	Jun. 30, 2019USD ($)oz	Mar. 31, 2019USD ($)oz	Sep. 30, 2020USD ($)oz		Sep. 30, 2019USD ($)oz
Beginning balance (Ounce) \| oz	14,658,518			11,577,252		9,474,090		9,009,541	11,577,252		9,009,541
Beginning balance, average cost	$ 20,470,354,346			$ 15,094,673,874		$ 11,930,367,963		$ 11,255,129,376	$ 15,094,673,874		$ 11,255,129,376
Beginning balance, fair value	$ 25,917,726,586			17,632,155,037	[1]	$ 13,348,992,576		11,547,078,166	$ 17,632,155,037	[1]	$ 11,547,078,166
Gold bullion contributed (Ounce) \| oz	2,187,720					1,625,180			6,096,339		2,990,628
Gold bullion contributed, average cost	$ 4,165,602,762					$ 2,411,110,878			$ 10,646,693,556		$ 4,215,794,689
Gold bullion contributed, fair value	$ 4,165,602,762					$ 2,411,110,878			$ 10,646,693,556		$ 4,215,794,689
Gold bullion distributed (Ounce) \| oz	(176,520)					(81,313)			(988,456)		(970,668)
Gold bullion distributed, average cost	$ (254,187,327)					$ (103,411,024)			$ (1,338,913,068)		$ (1,218,395,838)
Gold bullion distributed, fair value	(327,658,445)					(120,691,118)			(1,618,156,723)		(1,263,373,084)
Gold bullion distributed, realized gain (loss)	$ 73,471,118					$ 17,280,094			$ 279,243,655		$ 44,977,246
Gold bullion sold to pay expenses (Ounce) \| oz	(9,260)					(5,970)			(24,677)		(17,514)
Gold bullion sold to pay expenses, average cost	$ (13,240,877)					$ (7,578,716)			$ (33,925,458)		$ (22,039,126)
Gold bullion sold to pay expenses, fair value	(17,644,516)					(8,641,399)			(42,623,290)		(23,662,396)
Gold bullion sold to pay expenses, realized gain (loss)	4,403,639					1,062,683			8,697,832		1,623,270
Net realized gain (loss), fair value	77,874,757		$ 58,420,248	151,646,482		18,342,777	$ 22,410,307	5,847,432	287,941,487		46,600,516
Net change in unrealized appreciation/depreciation, fair value	$ 1,620,716,613		$ 2,078,877,217	831,013,860		$ 706,990,277	$ 1,012,499,328	114,176,495	$ 4,530,607,690		$ 1,833,666,100
Ending balance (Ounce) \| oz	16,660,458		14,658,518			11,011,987	9,474,090		16,660,458		11,011,987
Ending balance, average cost	$ 24,368,528,904		$ 20,470,354,346			$ 14,230,489,101	$ 11,930,367,963		$ 24,368,528,904		$ 14,230,489,101
Ending balance, fair value	31,436,617,757	[1]	25,917,726,586			16,356,103,991	13,348,992,576		31,436,617,757	[1]	16,356,103,991
Ending balance, realized gain (loss)	$ 77,874,757		$ 58,420,248	$ 151,646,482		$ 18,342,777	$ 22,410,307	$ 5,847,432	$ 287,941,487		$ 46,600,516

[1]	Cost of investment in gold bullion: $24,368,528,904 and $15,094,673,874, respectively.

Note 3 - Trust Expenses (Detail

Note 3 - Trust Expenses (Details Textual)	9 Months Ended
Note 3 - Trust Expenses (Details Textual)	Sep. 30, 2020USD ($)
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value	0.25%
Maximum [Member]
Legal Fees Per Year	$ 100,000

Note 8 - Financial Highlights -

Note 8 - Financial Highlights - Financial Highlights (Details) - $ / shares		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net asset value per Share, beginning of period (in dollars per share)		$ 16.88	$ 13.48	$ 14.56	$ 12.28
Net investment loss (in dollars per share)	[1]	(0.01)	(0.01)	(0.03)	(0.02)
Net realized and unrealized gain (loss) (in dollars per share)	[2]	1.13	0.73	3.47	1.94
Net increase in net assets from operations (in dollars per share)		1.12	0.72	3.44	1.92
Net asset value per Share, end of period (in dollars per share)		$ 18	$ 14.20	$ 18	$ 14.20
Total return, at net asset value	[3],[4]	6.64%	5.34%	23.63%	15.64%
Ratio to average net assets:
Net investment loss	[5]	(0.25%)	(0.25%)	(0.25%)	(0.25%)
Expenses	[5]	0.25%	0.25%	0.25%	0.25%

[1]	Based on average Shares outstanding during the period.
[2]	The amounts reported for a Share outstanding may not accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust's underlying investment.
[3]	Based on the change in net asset value of a Share during the period.
[4]	Percentage is not annualized.
[5]	Percentage is annualized.