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Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
The categorization of the Trust’s assets is as shown below:

The categorization of the Trust’s assets is as shown below:

 

(Amounts in 000's of US$)  September 30,
2020		   December 31,
2019		 
         
Level 2          
Investment in gold  $2,692,956   $1,193,151 
Changes in ounces of gold and their respective values for the three and nine months ended September 30, 2020 and 2019 are set out below:

Changes in ounces of gold and their respective values for the three and nine months ended September 30, 2020 and 2019 are set out below:

 

  

Three Months

Ended

September 30, 2020

  

Three Months

Ended

September 30, 2019

 
(Amounts in 000's of US$, except for ounces data)          
Ounces of gold          
Opening balance   1,237,289.9    664,998.4 
Creations   202,946.1    72,256.6 
Redemptions   (12,500.9)   (14,449.1)
Transfers of gold to pay expenses   (549.7)   (289.7)
Closing balance   1,427,185.4    722,516.2 
           
Investment in gold          
Opening balance  $2,187,652   $936,983 
Creations   381,339    108,140 
Redemptions   (23,274)   (21,724)
Settlement of gold receivable   13,607    — 
Realized gain on gold distributed for the redemption of Shares   4,384    3,508 
Transfers of gold to pay expenses   (1,023)   (413)
Realized gain on gold transferred to pay expenses   208    52 
Change in unrealized gain on investment in gold   130,063    46,608 
Closing balance  $2,692,956   $1,073,154 

 

 

   Nine Months Ended   Nine Months Ended 
   September 30, 2020   September 30, 2019 
(Amounts in 000's of US$, except for ounces data)          
Ounces of gold          
Opening balance   787,688.3    641,449.1 
Creations   708,192.0    144,573.7 
Redemptions   (67,361.1)   (62,648.1)
Transfers of gold to pay expenses   (1,333.8)   (858.5)
Closing balance   1,427,185.4    722,516.2 
           
Investment in gold          
Opening balance  $1,193,151   $822,113 
Creations   1,239,328    177,878 
Redemptions   (105,988)   (83,901)
Settlement of gold receivable   —    24,722 
Realized gain on gold distributed for the redemption of Shares   13,801    6,279 
Transfers of gold to pay expenses   (2,292)   (1,148)
Realized gain on gold transferred to pay expenses   417    88 
Change in unrealized gain on investment in gold   354,539    127,123 
Closing balance  $2,692,956   $1,073,154