Tue, Nov 12, 9:16 PM (21 days ago)
For the quarter ending September 30, 2024, abrdn Gold ETF Trust (SGOL) reported a significant increase in net asset value (NAV), rising 18.94% to $3,737,499 from $3,142,436 at the previous quarter's end. This growth was driven by a 12.83% rise in gold prices, which increased from $2,330.90 to $2,629.95 per ounce, and an increase in outstanding shares from 141.1 million to 148.8 million. The NAV per share also rose 12.80%, reaching $25.12. The Trust's net increase in assets from operations for the quarter was $411.2 million, primarily due to unrealized gains of approximately $407 million on gold investments, despite incurring a sponsor fee of $1.48 million. For the nine months ending September 30, 2024, NAV increased by 32.24%, reflecting a robust performance in gold prices and share activity. The Trust's liquidity remains stable, with no significant uncertainties affecting its capital resources. However, it remains exposed to risks related to gold price fluctuations, which could materially impact future performance. Overall, the Trust's financial health appears strong, with positive trends in revenue and asset valuation.