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Significant accounting policies (Tables)
 12 Months Ended
Sep. 30, 2012
Valuation of Gold

The table below summarizes the impact of unrealized gains on the Trust’s gold holdings as of September 30, 2012 and 2011:

 

(Amounts in 000’s of US$)    Sept 30,
2012		      Sept 30,
2011		  

Investment in gold – average cost

    $
 50,726,261
   
    $ 42,736,696   

Unrealized gain on investment in gold

      25,292,947         21,948,152   
  

 

 

     

 

 

  

Investment in gold – market value

    $ 76,019,208       $ 64,684,848   
  

 

 

     

 

 

  
Gold Receivable

Gold receivable, when recorded, represents the quantity of gold covered by contractually binding orders for the creation of shares where the gold has not yet been transferred to the Trust’s account. Generally, ownership of the gold is transferred within three days of trade date.

 

(Amounts in 000’s of US$)    Sept 30,
2012		    Sept 30,
2011		  

Gold receivable

    $—    $ —   
Gold Payable

Gold payable represents the quantity of gold covered by contractually binding orders for the redemption of shares where the gold has not yet been transferred out of the Trust’s account. Generally, ownership of the gold is transferred within three days of the trade date.

 

(Amounts in 000’s of US$)    Sept 30,
2012		      Sept 30,
2011		  

Gold payable

    $602,591      $ 520,297   
Creations and Redemptions of Shares

Changes in the Shares for the years ended September 30, 2012, 2011 and 2010 are as follows:

 

(Amounts in 000’s)    Sept 30,
2012		     Sept 30,
2011		      Sept 30,
2010		  

Number of Redeemable Shares:

        

Opening balance

      406,800        429,200         358,900   

Creations

      84,700        115,600         114,000   

Redemptions

      (53,600 )      (138,000 )       (43,700 ) 
  

 

 

    

 

 

     

 

 

  

Closing balance

      437,900        406,800         429,200   
  

 

 

    

 

 

     

 

 

  

 

(Amounts in 000’s of US$ except for per share data)    Sept 30,
2012		     Sept 30,
2011		     Sept 30,
2010		  

Redeemable Shares:

       

Opening balance

    $ 64,137,833      $ 54,809,779      $ 35,054,043   

Creations

      13,956,415        17,521,097        13,221,048   

Redemptions

      (8,456,437 )      (20,567,866 )      (5,023,591 ) 

Adjustment to redemption value

      5,752,002        12,374,823        11,558,279   
  

 

 

    

 

 

    

 

 

  

Closing balance

    $ 75,389,813      $ 64,137,833      $ 54,809,779   
  

 

 

    

 

 

    

 

 

  

Redemption value per redeemable share at period end

    $ 172.16      $ 157.66      $ 127.70