Fri, Sep 6, 5:11 PM (105 days ago)
For the quarter ended July 31, 2024, the VanEck Merk Gold ETF reported a significant increase in net assets, rising to $1,018,106,177 from $780,184,347 at the beginning of the period, marking a 30.5% growth. This was primarily driven by an increase in gold bullion holdings and higher gold prices. The number of outstanding shares also increased from 39,626,030 to 43,037,292. The net asset value (NAV) per share rose from $19.69 to $23.66, reflecting a total return of 20.16% for the six months. Quarterly expenses were limited to $606,009 for sponsor fees, with net realized and unrealized gains totaling $64,347,445. In contrast, the previous year's quarter showed a net decrease in assets of $4,946,765. The Trust's operations are influenced by several market factors, including gold supply and demand dynamics. The recent transition to the Solactive Gold Spot Index for pricing may impact future valuations. The Trust remains focused on gold investments, with no off-balance sheet arrangements or significant liquidity concerns noted. Overall, the financial health appears robust, but market uncertainties persist.