Company: GLDW
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001437749-25-002864
Chunk: 12

Company: World Gold Trust
Filing Date: 2025-02-05
Form: 10-Q
Item: Item 8
Chunk 12
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 ounces of gold, 15,600,000 Shares (156 Creation Units) were redeemed in exchange for 309,117.8 ounces of gold and 862.5 ounces of gold were sold to pay Sponsor fees. For accounting purposes, GLDM reflects creations and redemptions on the date of receipt of a notification of a creation but does not issue Shares until the requisite amount of gold is received. Upon a redemption, GLDM delivers gold upon receipt of Shares. These creations and redemptions were completed in the normal course of business.

At December 31, 2024, the amount of gold owned by GLDM and held by the Custodians was 3,518,147.3 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $9,185,354,827 based on the LBMA Gold Price PM on December 31, 2024 (cost —$6,986,462,214).

At September 30, 2024, the amount of gold owned by GLDM and held by the Custodians was 3,483,344.7 ounces, 100% of which is allocated gold in the form of London Good Delivery gold bars with a market value of $9,161,022,521.0 based on the LBMA Gold Price PM on September 30, 2024 (cost — $6,671,767,835).

Cash Resources and Liquidity 

At December 31, 2024, GLDM did not have any cash balances. When selling gold to pay expenses, GLDM endeavors to sell the exact amount of gold needed to pay expenses in order to minimize GLDM’s holdings of assets other than gold or any gold receivable. As a consequence, we expect that GLDM will not record any net cash flow from its operations and that its cash balance will be zero at the end of each reporting period.

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Movements in the Price of Gold 

As movements in the price of gold are expected to directly affect the price of the Shares, it is important to understand the recent movements in the price of gold. However, past movements in the price of gold are not indicators of future movements.

The following chart shows movements in the price of gold based on the LBMA Gold Price PM in U.S. dollars per ounce over the period from June 26, 2018 (the first date the Shares began trading on the NYSE Arca)