Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 282

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 1
Chunk 282
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 817,900

        Sales commitments
         
        $
        (400,861
        )
         
        $
        (388,184
        )

        Margin sales commitments
         
        $
        (24,661
        )
         
        $
        (22,316
        )

        Open forward contracts
         
        $
        742,863

        $
        843,439

        Open futures contracts
         
        $
        269,606

        $
        83,214

       The contract amounts (i.e., notional balances) of the Company's forward and futures contracts and the open sales and purchase commitments are not reflected in the accompanying condensed consolidated balance sheets. The Company records the difference between the market price of the underlying metal or contract and the trade amount at fair value.

31

The Company is exposed to the risk of failure of the counterparties to its derivative contracts. Significant judgment is applied by the Company when evaluating the fair value implications. The Company regularly reviews the creditworthiness of its major counterparties and monitors its exposure to concentrations. As of December 31, 2024, the Company believes its risk of counterparty default is mitigated as a result of such evaluation and the short-term duration of these arrangements.Foreign Currency Exchange Rate ManagementThe Company utilizes foreign currency forward contracts to manage the effect of foreign currency exchange fluctuations on its sale and purchase transactions. These contracts generally have maturities of less than one week. The market values (fair values) of the Company’s foreign exchange forward contracts and the net open sale and purchase commitment transactions, denominated in foreign currencies, outstanding were as follows (in thousands): 

        December 31, 2024

        June 30, 2024

        Foreign exchange forward contracts
         
        $
        4,810

        $
        4,793

        Open sale and purchase commitment transactions, net
         
        $
        4,364

        $
        4,705

13. INCOME TAXESNet income from operations before provision for income taxes is shown below (in thousands): 

        Three Months Ended December 31,

        Six Months Ended December 31,

        2024

        2023

        2024

        2023

        U.S.
         
        $
        8,360

        $
        18,422

        $
        17,734

        $
        42,350