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<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 02-March-2023 [05:10:38] {PM}-->
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CoverAbstract" xml:lang="en-US">Cover [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentType" xml:lang="en-US">Document Type</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentAnnualReport" xml:lang="en-US">Document Annual Report</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentAnnualReport" xml:lang="en-US">Document Annual Report</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport" xlink:to="lab_dei_DocumentAnnualReport" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentTransitionReport" xlink:label="loc_dei_DocumentTransitionReport" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentTransitionReport" xml:lang="en-US">Document Transition Report</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentTransitionReport" xml:lang="en-US">Document Transition Report</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_TradingSymbol" xml:lang="en-US">Trading Symbol</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_TradingSymbol" xml:lang="en-US">Trading Symbol</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:label="loc_dei_Security12bTitle" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_Security12bTitle" xml:lang="en-US">Title of 12(b) Security</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_Security12bTitle" xml:lang="en-US">Title of 12(b) Security</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:label="loc_dei_SecurityExchangeName" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_SecurityExchangeName" xml:lang="en-US">Security Exchange Name</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_SecurityExchangeName" xml:lang="en-US">Security Exchange Name</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFileNumber" xml:lang="en-US">Entity File Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityFileNumber" xml:lang="en-US">Entity File Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_dei_EntityVoluntaryFilers" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityVoluntaryFilers" xml:lang="en-US">Entity Voluntary Filers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityVoluntaryFilers" xml:lang="en-US">Entity Voluntary Filers</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityVoluntaryFilers" xlink:to="lab_dei_EntityVoluntaryFilers" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCurrentReportingStatus" xml:lang="en-US">Entity Current Reporting Status</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityCurrentReportingStatus" xml:lang="en-US">Entity Current Reporting Status</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityShellCompany" xlink:label="loc_dei_EntityShellCompany" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityShellCompany" xml:lang="en-US">Entity Shell Company</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityShellCompany" xml:lang="en-US">Entity Shell Company</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntitySmallBusiness" xlink:label="loc_dei_EntitySmallBusiness" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntitySmallBusiness" xml:lang="en-US">Entity Small Business</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntitySmallBusiness" xml:lang="en-US">Entity Small Business</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityEmergingGrowthCompany" xml:lang="en-US">Entity Emerging Growth Company</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityEmergingGrowthCompany" xml:lang="en-US">Entity Emerging Growth Company</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_dei_EntityExTransitionPeriod" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityExTransitionPeriod" xml:lang="en-US">Entity Ex Transition Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityExTransitionPeriod" xml:lang="en-US">Entity Ex Transition Period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityExTransitionPeriod" xlink:to="lab_dei_EntityExTransitionPeriod" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityPublicFloat" xlink:label="loc_dei_EntityPublicFloat" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityPublicFloat" xml:lang="en-US">Entity Public Float</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityPublicFloat" xml:lang="en-US">Entity Public Float</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityPublicFloat" xlink:to="lab_dei_EntityPublicFloat" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:label="loc_dei_CityAreaCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CityAreaCode" xml:lang="en-US">City Area Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_CityAreaCode" xml:lang="en-US">City Area Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LocalPhoneNumber" xml:lang="en-US">Local Phone Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_LocalPhoneNumber" xml:lang="en-US">Local Phone Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressAddressLine1" xml:lang="en-US">Entity Address, Address Line One</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressAddressLine1" xml:lang="en-US">Entity Address, Address Line One</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_dei_EntityAddressAddressLine2" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressAddressLine2" xml:lang="en-US">Entity Address, Address Line Two</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressAddressLine2" xml:lang="en-US">Entity Address, Address Line Two</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressCityOrTown" xml:lang="en-US">Entity Address, City or Town</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressCityOrTown" xml:lang="en-US">Entity Address, City or Town</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressStateOrProvince" xml:lang="en-US">Entity Address, State or Province</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressStateOrProvince" xml:lang="en-US">Entity Address, State or Province</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressPostalZipCode" xml:lang="en-US">Entity Address, Postal Zip Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressPostalZipCode" xml:lang="en-US">Entity Address, Postal Zip Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_IcfrAuditorAttestationFlag" xlink:label="loc_dei_IcfrAuditorAttestationFlag" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xml:lang="en-US">ICFR Auditor Attestation Flag</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_IcfrAuditorAttestationFlag" xlink:to="lab_dei_IcfrAuditorAttestationFlag" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityTaxIdentificationNumber" xml:lang="en-US">Entity Tax Identification Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityTaxIdentificationNumber" xml:lang="en-US">Entity Tax Identification Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_dei_EntityInteractiveDataCurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityInteractiveDataCurrent" xml:lang="en-US">Entity Interactive Data Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityInteractiveDataCurrent" xml:lang="en-US">Entity Interactive Data Current</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorName" xlink:label="loc_dei_AuditorName" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AuditorName" xml:lang="en-US">Auditor Name</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorName" xlink:to="lab_dei_AuditorName" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorFirmId" xlink:label="loc_dei_AuditorFirmId" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AuditorFirmId" xml:lang="en-US">Auditor Firm ID</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorLocation" xlink:label="loc_dei_AuditorLocation" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AuditorLocation" xml:lang="en-US">Auditor Location</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorLocation" xlink:to="lab_dei_AuditorLocation" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsNet" xlink:label="loc_us-gaap_AssetsNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AssetsNet" xml:lang="en-US">Net Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_AssetsNet" xml:lang="en-US">Net Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_AssetsNet" xml:lang="en-US">Net Assets, beginning of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_AssetsNet" xml:lang="en-US">Net Assets, end of year</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsNet" xlink:to="lab_us-gaap_AssetsNet" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentInPhysicalCommodities" xlink:label="loc_us-gaap_InvestmentInPhysicalCommodities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentInPhysicalCommodities" xml:lang="en-US">Investment in Physical Commodities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentInPhysicalCommodities" xml:lang="en-US">Investment in gold, at fair value (cost $449,702,252 and $408,696,923, respectively)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_InvestmentInPhysicalCommodities" xml:lang="en-US">Investment in gold, fair value, ending balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_InvestmentInPhysicalCommodities" xml:lang="en-US">Investment in gold, fair value, beginning balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentInPhysicalCommodities" xlink:to="lab_us-gaap_InvestmentInPhysicalCommodities" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LiabilitiesAbstract" xml:lang="en-US">Liabilities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LiabilitiesAbstract" xml:lang="en-US">Liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountsPayableRelatedPartiesCurrent" xlink:label="loc_us-gaap_AccountsPayableRelatedPartiesCurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccountsPayableRelatedPartiesCurrent" xml:lang="en-US">Accounts Payable, Related Parties, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AccountsPayableRelatedPartiesCurrent" xml:lang="en-US">Sponsor fee payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableRelatedPartiesCurrent" xlink:to="lab_us-gaap_AccountsPayableRelatedPartiesCurrent" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Liabilities" xml:lang="en-US">Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetAssetValuePerShare" xlink:label="loc_us-gaap_NetAssetValuePerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetAssetValuePerShare" xml:lang="en-US">Net Asset Value Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NetAssetValuePerShare" xml:lang="en-US">Net asset value per share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_NetAssetValuePerShare" xml:lang="en-US">Net asset value per share, end of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_NetAssetValuePerShare" xml:lang="en-US">Net asset value per share, beginning of year</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetAssetValuePerShare" xlink:to="lab_us-gaap_NetAssetValuePerShare" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common Stock, Shares, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common stock, issued</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common stock, outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Beginning Share Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Ending Share Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockSharesAuthorizedUnlimited" xlink:label="loc_us-gaap_CommonStockSharesAuthorizedUnlimited" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommonStockSharesAuthorizedUnlimited" xml:lang="en-US">Common Stock, Shares Authorized, Unlimited [Fixed List]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommonStockSharesAuthorizedUnlimited" xml:lang="en-US">Common stock, share authorized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorizedUnlimited" xlink:to="lab_us-gaap_CommonStockSharesAuthorizedUnlimited" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentOwnedAtCost" xlink:label="loc_us-gaap_InvestmentOwnedAtCost" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedAtCost" xml:lang="en-US">Investment Owned, at Cost</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedAtCost" xml:lang="en-US">Investment in gold at cost</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_InvestmentOwnedAtCost" xml:lang="en-US">Cost</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedAtCost" xlink:to="lab_us-gaap_InvestmentOwnedAtCost" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommonStockNoParValue" xlink:label="loc_us-gaap_CommonStockNoParValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommonStockNoParValue" xml:lang="en-US">Common Stock, No Par Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommonStockNoParValue" xml:lang="en-US">Common stock, par value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockNoParValue" xlink:to="lab_us-gaap_CommonStockNoParValue" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Income Statement [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ExpensesAbstract" xlink:label="loc_aaau_ExpensesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ExpensesAbstract" xml:lang="en-US">Expenses [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ExpensesAbstract" xml:lang="en-US">Expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ExpensesAbstract" xlink:to="lab_aaau_ExpensesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SponsorFees" xlink:label="loc_us-gaap_SponsorFees" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SponsorFees" xml:lang="en-US">Sponsor Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_SponsorFees" xml:lang="en-US">Sponsor fee</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SponsorFees" xlink:to="lab_us-gaap_SponsorFees" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentIncomeNet" xlink:label="loc_us-gaap_InvestmentIncomeNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentIncomeNet" xml:lang="en-US">Investment Income, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_InvestmentIncomeNet" xml:lang="en-US">Net investment loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentIncomeNet" xml:lang="en-US">Net investment loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeNet" xlink:to="lab_us-gaap_InvestmentIncomeNet" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Operating Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Total expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income (Loss) Attributable to Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income (Loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net decrease in net assets resulting from operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Earnings Per Share, Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Net income (loss) per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Average number of shares (in Shares)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetRealizedAndUnrealizedGainLossAbstract" xlink:label="loc_aaau_NetRealizedAndUnrealizedGainLossAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossAbstract" xml:lang="en-US">Net realized and unrealized gain (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossAbstract" xml:lang="en-US">Net realized and unrealized gain (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetRealizedAndUnrealizedGainLossAbstract" xlink:to="lab_aaau_NetRealizedAndUnrealizedGainLossAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_us-gaap_GainLossOnInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GainLossOnInvestments" xml:lang="en-US">Gain (Loss) on Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_GainLossOnInvestments" xml:lang="en-US">Net realized gain</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_GainLossOnInvestments" xml:lang="en-US">Net realized gain</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnInvestments" xlink:to="lab_us-gaap_GainLossOnInvestments" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xlink:label="loc_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xml:lang="en-US">Change in unrealized appreciation (depreciation) on investment in gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xml:lang="en-US">Net change in unrealized appreciation (depreciation) on investment in gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xml:lang="en-US">Net change in unrealized depreciation investments in gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xml:lang="en-US">Change in unrealized appreciation (depreciation) on investment in gold</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xlink:to="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullion" xml:lang="en-US">Change in unrealized appreciation/depreciation on investment in gold bullion.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetRealizedAndUnrealizedGainLossFromOperations" xlink:label="loc_aaau_NetRealizedAndUnrealizedGainLossFromOperations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossFromOperations" xml:lang="en-US">NetRealizedAndUnrealizedGainLossFromOperations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossFromOperations" xml:lang="en-US">Net realized and unrealized gain (loss) from operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetRealizedAndUnrealizedGainLossFromOperations" xlink:to="lab_aaau_NetRealizedAndUnrealizedGainLossFromOperations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossFromOperations" xml:lang="en-US">Net realized and unrealized gain (loss) from operations.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_GoldBullionDistributedForRedemptions" xlink:label="loc_aaau_GoldBullionDistributedForRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_GoldBullionDistributedForRedemptions" xml:lang="en-US">Gold Bullion Distributed For Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_GoldBullionDistributedForRedemptions" xml:lang="en-US">Net realized gain (loss) on gold bullion distributed for redemptions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_GoldBullionDistributedForRedemptions" xlink:to="lab_aaau_GoldBullionDistributedForRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_GoldBullionDistributedForRedemptions" xml:lang="en-US">Gold bullion distributed for redemptions.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:label="loc_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xml:lang="en-US">Gain (Loss) on Sale of Trust Assets to Pay Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xml:lang="en-US">Net realized gain (loss) on gold transferred to pay expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:to="lab_us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="loc_us-gaap_PartnersCapitalAccountRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapitalAccountRedemptions" xml:lang="en-US">Partners' Capital Account, Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnersCapitalAccountRedemptions" xml:lang="en-US">Net creations (redemptions)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAccountRedemptions" xlink:to="lab_us-gaap_PartnersCapitalAccountRedemptions" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockIssued1" xlink:label="loc_us-gaap_StockIssued1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StockIssued1" xml:lang="en-US">Stock Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_StockIssued1" xml:lang="en-US">Creations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_StockIssued1" xml:lang="en-US">Gold bullion contributed for Shares issued</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssued1" xlink:to="lab_us-gaap_StockIssued1" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_StockRedeemeedDuringThePeriodOne" xlink:label="loc_aaau_StockRedeemeedDuringThePeriodOne" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_StockRedeemeedDuringThePeriodOne" xml:lang="en-US">Stock Redeemeed During the Period One</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_StockRedeemeedDuringThePeriodOne" xml:lang="en-US">Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_StockRedeemeedDuringThePeriodOne" xml:lang="en-US">Gold bullion distributed for Shares redeemed</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_StockRedeemeedDuringThePeriodOne" xlink:to="lab_aaau_StockRedeemeedDuringThePeriodOne" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_StockRedeemeedDuringThePeriodOne" xml:lang="en-US">Stock redeemeed during the period one.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityDomain" xml:lang="en-US">Entity [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityDomain" xml:lang="en-US">-1</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_UnrealizedGainLossOnInvestments" xlink:label="loc_us-gaap_UnrealizedGainLossOnInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xml:lang="en-US">Unrealized Gain (Loss) on Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xml:lang="en-US">Net change in unrealized appreciation (depreciation) on investment in gold</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnInvestments" xlink:to="lab_us-gaap_UnrealizedGainLossOnInvestments" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RealizedInvestmentGainsLosses" xlink:label="loc_us-gaap_RealizedInvestmentGainsLosses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses" xml:lang="en-US">Realized Investment Gains (Losses)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_RealizedInvestmentGainsLosses" xml:lang="en-US">Net realized gain (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealizedInvestmentGainsLosses" xlink:to="lab_us-gaap_RealizedInvestmentGainsLosses" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" xlink:label="loc_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" xml:lang="en-US">Adjustment to Cashflow from Operating Activities Sale Maturity and Collection of Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" xml:lang="en-US">Proceeds from gold bullion sold to pay expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" xlink:to="lab_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_AdjustmentToCashflowFromOperatingActivitiesSaleMaturityAndCollectionOfInvestments" xml:lang="en-US">Adjustment to cashflow from operating activities sale maturity and collection of investments.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Change in operating assets and liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_IncreaseDecreaseInSponsorFeePayable" xlink:label="loc_aaau_IncreaseDecreaseInSponsorFeePayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_IncreaseDecreaseInSponsorFeePayable" xml:lang="en-US">Increase Decrease In Sponsor Fee Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaau_IncreaseDecreaseInSponsorFeePayable" xml:lang="en-US">Sponsor's fee payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_IncreaseDecreaseInSponsorFeePayable" xlink:to="lab_aaau_IncreaseDecreaseInSponsorFeePayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_IncreaseDecreaseInSponsorFeePayable" xml:lang="en-US">Increase decrease in sponsor fee payable.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xml:lang="en-US">Supplemental disclosure of non-cash information:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Cash Flows from Operating Activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" xlink:label="loc_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" xml:lang="en-US">Proceeds From Sale Of Trust Assets To Pay Expenses 1</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" xml:lang="en-US">Proceeds from gold bullion sold to pay expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" xlink:to="lab_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ProceedsFromSaleOfTrustAssetsToPayExpenses1" xml:lang="en-US">Proceeds from sale of trust assets to pay expenses.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ExpensesSponsorFeePaid" xlink:label="loc_aaau_ExpensesSponsorFeePaid" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ExpensesSponsorFeePaid" xml:lang="en-US">Expenses , Sponsor fee paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ExpensesSponsorFeePaid" xml:lang="en-US">Expenses &#8211; Sponsor's fee paid</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ExpensesSponsorFeePaid" xlink:to="lab_aaau_ExpensesSponsorFeePaid" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ExpensesSponsorFeePaid" xml:lang="en-US">Expenses , Sponsor fee paid.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_aaau_ReconciliationOfNetIncreaseDecreaseInNetAssetsResultingFromOperationsToNetCashProvidedByUsedInOperatingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xml:lang="en-US">Increase (decrease) in cash</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US">Cash, beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xml:lang="en-US">Cash, end of period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_FinancialHighlightsAbstract" xlink:label="loc_aaau_FinancialHighlightsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_FinancialHighlightsAbstract" xml:lang="en-US">Financial Highlights [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_FinancialHighlightsAbstract" xlink:to="lab_aaau_FinancialHighlightsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_FinancialHighlightsAbstract" xml:lang="en-US">Financial Highlights [Abstract]</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" xlink:label="loc_aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" xml:lang="en-US">Per Share Performance For a share outstanding throughout each period [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" xml:lang="en-US">Per Share Performance (for a share outstanding throughout each year)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" xlink:to="lab_aaau_PerSharePerformanceForAShareOutstandingThroughoutEachPeriodAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetInvestmentIncomLossPerShare" xlink:label="loc_aaau_NetInvestmentIncomLossPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetInvestmentIncomLossPerShare" xml:lang="en-US">Net investment loss (b)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetInvestmentIncomLossPerShare" xml:lang="en-US">Net investment loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetInvestmentIncomLossPerShare" xlink:to="lab_aaau_NetInvestmentIncomLossPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetInvestmentIncomLossPerShare" xml:lang="en-US">Net investment incom (loss) per share.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ChangeInNetAssetsFromOperationsPerShare" xlink:label="loc_aaau_ChangeInNetAssetsFromOperationsPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ChangeInNetAssetsFromOperationsPerShare" xml:lang="en-US">Change in net assets from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ChangeInNetAssetsFromOperationsPerShare" xml:lang="en-US">Change in net assets from operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ChangeInNetAssetsFromOperationsPerShare" xlink:to="lab_aaau_ChangeInNetAssetsFromOperationsPerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ChangeInNetAssetsFromOperationsPerShare" xml:lang="en-US">Change in net assets from operations per share</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetAssetMarketValuePerShare" xlink:label="loc_aaau_NetAssetMarketValuePerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetAssetMarketValuePerShare" xml:lang="en-US">NetAssetMarketValuePerShare</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_aaau_NetAssetMarketValuePerShare" xml:lang="en-US">Market value per share, beginning of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_aaau_NetAssetMarketValuePerShare" xml:lang="en-US">Market value per share, end of year</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetAssetMarketValuePerShare" xlink:to="lab_aaau_NetAssetMarketValuePerShare" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetAssetMarketValuePerShare" xml:lang="en-US">Market value per share.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" xlink:label="loc_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" xml:lang="en-US">Net realized and unrealized gain (loss) on investment in gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" xml:lang="en-US">Net realized and unrealized gain (loss) on investment in gold</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" xlink:to="lab_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetRealizedAndUnrealizedGainLossOnInvestmentInGoldBullion" xml:lang="en-US">Net realized and unrealized gain (loss) on investment in gold bullion.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetAssetValue" xlink:label="loc_aaau_NetAssetValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetAssetValue" xml:lang="en-US">Net Asset Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetAssetValue" xml:lang="en-US">Net assets ($000's)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetAssetValue" xlink:to="lab_aaau_NetAssetValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetAssetValue" xml:lang="en-US">Net asset value.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_TotalReturnAtNetAssetValue" xlink:label="loc_aaau_TotalReturnAtNetAssetValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_TotalReturnAtNetAssetValue" xml:lang="en-US">Total return, at net asset value (d)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_TotalReturnAtNetAssetValue" xml:lang="en-US">Total Return, at net asset value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_TotalReturnAtNetAssetValue" xlink:to="lab_aaau_TotalReturnAtNetAssetValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_TotalReturnAtNetAssetValue" xml:lang="en-US">Total return, at net asset value</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_TotalReturnAtMarketValue" xlink:label="loc_aaau_TotalReturnAtMarketValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_TotalReturnAtMarketValue" xml:lang="en-US">Total return, at market value (d)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_TotalReturnAtMarketValue" xml:lang="en-US">Total Return, at market value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_TotalReturnAtMarketValue" xlink:to="lab_aaau_TotalReturnAtMarketValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_TotalReturnAtMarketValue" xml:lang="en-US">Total return, at market value.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_RatiosToAverageNetAssetsAbstract" xlink:label="loc_aaau_RatiosToAverageNetAssetsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_RatiosToAverageNetAssetsAbstract" xml:lang="en-US">Ratios To Average Net Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_RatiosToAverageNetAssetsAbstract" xml:lang="en-US">Ratios to average net assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_RatiosToAverageNetAssetsAbstract" xlink:to="lab_aaau_RatiosToAverageNetAssetsAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_AnnualizedNetInvestmentIncomeLossRatio" xlink:label="loc_aaau_AnnualizedNetInvestmentIncomeLossRatio" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_AnnualizedNetInvestmentIncomeLossRatio" xml:lang="en-US">Annualized net investment income (loss) ratio</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_AnnualizedNetInvestmentIncomeLossRatio" xml:lang="en-US">Net investment loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_AnnualizedNetInvestmentIncomeLossRatio" xlink:to="lab_aaau_AnnualizedNetInvestmentIncomeLossRatio" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_AnnualizedNetInvestmentIncomeLossRatio" xml:lang="en-US">Annualized net investment income (loss) ratio</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_TotalExpenses" xlink:label="loc_aaau_TotalExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_TotalExpenses" xml:lang="en-US">Total expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_TotalExpenses" xml:lang="en-US">Total expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_TotalExpenses" xlink:to="lab_aaau_TotalExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_TotalExpenses" xml:lang="en-US">Total expenses.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfInvestmentsAbstract" xlink:label="loc_us-gaap_ScheduleOfInvestmentsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfInvestmentsAbstract" xml:lang="en-US">Schedule of Investments [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInvestmentsAbstract" xlink:to="lab_us-gaap_ScheduleOfInvestmentsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:label="loc_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xml:lang="en-US">Investment Holdings, Schedule of Investments [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xml:lang="en-US">Schedules of Investments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:to="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Accounting Policies [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xml:lang="en-US">ORGANIZATION</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">SIGNIFICANT ACCOUNTING POLICIES</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_InvestmentHoldingsAbstract" xlink:label="loc_aaau_InvestmentHoldingsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_InvestmentHoldingsAbstract" xml:lang="en-US">Investment Holdings [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_InvestmentHoldingsAbstract" xlink:to="lab_aaau_InvestmentHoldingsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentHoldingsTextBlock" xlink:label="loc_us-gaap_InvestmentHoldingsTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentHoldingsTextBlock" xml:lang="en-US">Investment Holdings [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentHoldingsTextBlock" xml:lang="en-US">INVESTMENT IN GOLD</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentHoldingsTextBlock" xlink:to="lab_us-gaap_InvestmentHoldingsTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xml:lang="en-US">Related Party Transactions [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US">RELATED PARTIES &#8211;SPONSOR, TRUSTEE, CUSTODIAN AND MARKETING FEES</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="loc_us-gaap_RisksAndUncertaintiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RisksAndUncertaintiesAbstract" xml:lang="en-US">Risks and Uncertainties [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RisksAndUncertaintiesAbstract" xlink:to="lab_us-gaap_RisksAndUncertaintiesAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="loc_us-gaap_ConcentrationRiskDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ConcentrationRiskDisclosureTextBlock" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ConcentrationRiskDisclosureTextBlock" xml:lang="en-US">CONCENTRATION OF RISK</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="lab_us-gaap_ConcentrationRiskDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US">INDEMNIFICATION</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xml:lang="en-US">Basis of Presentation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ReceivableAndPayablePolicyTextBlock" xlink:label="loc_aaau_ReceivableAndPayablePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ReceivableAndPayablePolicyTextBlock" xml:lang="en-US">Gold Receivable and Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ReceivableAndPayablePolicyTextBlock" xml:lang="en-US">Gold Receivable and Payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ReceivableAndPayablePolicyTextBlock" xlink:to="lab_aaau_ReceivableAndPayablePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ReceivableAndPayablePolicyTextBlock" xml:lang="en-US">Dsiclosure of accounting policy for bullion receivable and payable.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" xlink:label="loc_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" xml:lang="en-US">Creations and Redemptions of Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" xml:lang="en-US">Creations and Redemptions of Shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" xlink:to="lab_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_CreationsAndRedemptionsOfSharesPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy for creation and redemptions of shares.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ValuationOfBullionPolicyTextBlock" xlink:label="loc_aaau_ValuationOfBullionPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ValuationOfBullionPolicyTextBlock" xml:lang="en-US">Valuation of Gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ValuationOfBullionPolicyTextBlock" xml:lang="en-US">Valuation of Gold</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ValuationOfBullionPolicyTextBlock" xlink:to="lab_aaau_ValuationOfBullionPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ValuationOfBullionPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy for valuation of bullion.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ExpensesPolicyTextBlock" xlink:label="loc_aaau_ExpensesPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ExpensesPolicyTextBlock" xml:lang="en-US">Expenses, realized gains and losses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ExpensesPolicyTextBlock" xml:lang="en-US">Expenses, Realized Gains and Losses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ExpensesPolicyTextBlock" xlink:to="lab_aaau_ExpensesPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ExpensesPolicyTextBlock" xml:lang="en-US">Disclosure of accouting policy for expenses.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" xlink:label="loc_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" xml:lang="en-US">Investment Holdings, Schedule of Investments [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" xml:lang="en-US">Schedules of Investments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" xlink:to="lab_us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ScheduleOfChangesInSharesTableTextBlock" xlink:label="loc_aaau_ScheduleOfChangesInSharesTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ScheduleOfChangesInSharesTableTextBlock" xml:lang="en-US">Schedule of changes in ounces of gold and respective fair value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ScheduleOfChangesInSharesTableTextBlock" xml:lang="en-US">Schedule of changes in ounces of gold and respective fair value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ScheduleOfChangesInSharesTableTextBlock" xlink:to="lab_aaau_ScheduleOfChangesInSharesTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ScheduleOfChangesInSharesTableTextBlock" xml:lang="en-US">Tabular disclosure of changes in shares.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xml:lang="en-US">Schedule of valuation of investments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_ScheduleOfInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfInvestmentsTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfInvestmentsTable" xml:lang="en-US">Schedule of Investments [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ScheduleOfInvestmentsTable" xml:lang="en-US">Schedule of Investments [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfInvestmentsTable" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_SummaryOfInvestmentHoldingsLineItems" xlink:label="loc_us-gaap_SummaryOfInvestmentHoldingsLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SummaryOfInvestmentHoldingsLineItems" xml:lang="en-US">Summary of Investment Holdings [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SummaryOfInvestmentHoldingsLineItems" xml:lang="en-US">Summary of Investment Holdings [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SummaryOfInvestmentHoldingsLineItems" xlink:to="lab_us-gaap_SummaryOfInvestmentHoldingsLineItems" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="loc_us-gaap_InvestmentOwnedAtFairValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xml:lang="en-US">Investment Owned, at Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xml:lang="en-US">Fair Value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedAtFairValue" xlink:to="lab_us-gaap_InvestmentOwnedAtFairValue" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:label="loc_us-gaap_InvestmentOwnedPercentOfNetAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedPercentOfNetAssets" xml:lang="en-US">Investment Owned, Percent of Net Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedPercentOfNetAssets" xml:lang="en-US">% of Net Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:to="lab_us-gaap_InvestmentOwnedPercentOfNetAssets" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentOwnedBalanceOtherMeasure" xlink:label="loc_us-gaap_InvestmentOwnedBalanceOtherMeasure" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedBalanceOtherMeasure" xml:lang="en-US">Investment Owned, Balance, Other Measure</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedBalanceOtherMeasure" xml:lang="en-US">Ounces (in Grams)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_InvestmentOwnedBalanceOtherMeasure" xml:lang="en-US">Balance at ending (in Ounces)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_InvestmentOwnedBalanceOtherMeasure" xml:lang="en-US">Balance at beginning (in Ounces)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedBalanceOtherMeasure" xlink:to="lab_us-gaap_InvestmentOwnedBalanceOtherMeasure" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_CurrencyAxis" xml:lang="en-US">Currency [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_srt_CurrencyAxis" xml:lang="en-US">Currency [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CurrencyAxis" xlink:to="lab_srt_CurrencyAxis" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_currency_AllCurrenciesDomain" xml:lang="en-US">All Currencies [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_currency_AllCurrenciesDomain" xml:lang="en-US">-1</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_AllCurrenciesDomain" xlink:to="lab_currency_AllCurrenciesDomain" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InformationByCategoryOfDebtSecurityAxis" xlink:label="loc_us-gaap_InformationByCategoryOfDebtSecurityAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InformationByCategoryOfDebtSecurityAxis" xml:lang="en-US">Debt Security Category [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InformationByCategoryOfDebtSecurityAxis" xlink:to="lab_us-gaap_InformationByCategoryOfDebtSecurityAxis" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCategoriesOfInvestmentsDomain" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCategoriesOfInvestmentsDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCategoriesOfInvestmentsDomain" xml:lang="en-US">Other than Temporary Impairment, Credit Losses Recognized in Earnings, Categories of Investments [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCategoriesOfInvestmentsDomain" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCategoriesOfInvestmentsDomain" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_LiabilitiesInExcessOfOtherAssetsMember" xlink:label="loc_aaau_LiabilitiesInExcessOfOtherAssetsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_LiabilitiesInExcessOfOtherAssetsMember" xml:lang="en-US">Liabilities In Excess Of Other Assets [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_LiabilitiesInExcessOfOtherAssetsMember" xml:lang="en-US">Liabilities in excess of other assets [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_LiabilitiesInExcessOfOtherAssetsMember" xlink:to="lab_aaau_LiabilitiesInExcessOfOtherAssetsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_LiabilitiesInExcessOfOtherAssetsMember" xml:lang="en-US">Liabilities In Excess Of Other Assets.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_InvestmentsMember" xlink:label="loc_us-gaap_InvestmentsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentsMember" xml:lang="en-US">Investments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentsMember" xml:lang="en-US">Total Investments [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsMember" xlink:to="lab_us-gaap_InvestmentsMember" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetAssetsMember" xlink:label="loc_aaau_NetAssetsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetAssetsMember" xml:lang="en-US">Net Assets [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetAssetsMember" xml:lang="en-US">Net Assets [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetAssetsMember" xlink:to="lab_aaau_NetAssetsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetAssetsMember" xml:lang="en-US">Net Assets.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_GoldBullionMember" xlink:label="loc_aaau_GoldBullionMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_GoldBullionMember" xml:lang="en-US">Gold Bullion [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_GoldBullionMember" xml:lang="en-US">Investment in gold, at fair value [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_GoldBullionMember" xlink:to="lab_aaau_GoldBullionMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_GoldBullionMember" xml:lang="en-US">Gold Bullion.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_RangeAxis" xml:lang="en-US">Statistical Measurement [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_srt_RangeAxis" xml:lang="en-US">Statistical Measurement [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_RangeMember" xml:lang="en-US">Statistical Measurement [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_srt_RangeMember" xml:lang="en-US">-1</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_srt_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_OrganizationDetailsLineItems" xlink:label="loc_aaau_OrganizationDetailsLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_OrganizationDetailsLineItems" xml:lang="en-US">Organization Details [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_OrganizationDetailsLineItems" xml:lang="en-US">Organization (Details) [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_OrganizationDetailsLineItems" xlink:to="lab_aaau_OrganizationDetailsLineItems" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_SharesIssuedInBasketInExchangeForGold" xlink:label="loc_aaau_SharesIssuedInBasketInExchangeForGold" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_SharesIssuedInBasketInExchangeForGold" xml:lang="en-US">Shares issued in basket in exchange for gold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_SharesIssuedInBasketInExchangeForGold" xml:lang="en-US">Shares issued in basket in exchange for gold</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_SharesIssuedInBasketInExchangeForGold" xlink:to="lab_aaau_SharesIssuedInBasketInExchangeForGold" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_SharesIssuedInBasketInExchangeForGold" xml:lang="en-US">Shares issued in basket in exchange for gold.</label>
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_OperationsCommencedDate1" xlink:label="loc_us-gaap_OperationsCommencedDate1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperationsCommencedDate1" xml:lang="en-US">Operations Commenced Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OperationsCommencedDate1" xml:lang="en-US">Operations commenced date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperationsCommencedDate1" xlink:to="lab_us-gaap_OperationsCommencedDate1" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ScheduleOfChangesInOuncesOfGoldAndRespectiveFairValueAbstract" xlink:label="loc_aaau_ScheduleOfChangesInOuncesOfGoldAndRespectiveFairValueAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ScheduleOfChangesInOuncesOfGoldAndRespectiveFairValueAbstract" xml:lang="en-US">Schedule Of Changes In Ounces Of Gold And Respective Fair Value [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ScheduleOfChangesInOuncesOfGoldAndRespectiveFairValueAbstract" xlink:to="lab_aaau_ScheduleOfChangesInOuncesOfGoldAndRespectiveFairValueAbstract" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:label="loc_us-gaap_StockRedeemedOrCalledDuringPeriodShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xml:lang="en-US">Stock Redeemed or Called During Period, Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xml:lang="en-US">Redemptions (representing 1,086 and 320 baskets, respectively)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:to="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" />
<loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xml:lang="en-US">Creations (representing 1,120 and 173 baskets, respectively)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NumberOfBasketsIssued" xlink:label="loc_aaau_NumberOfBasketsIssued" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NumberOfBasketsIssued" xml:lang="en-US">Number Of Baskets Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_NumberOfBasketsIssued" xml:lang="en-US">Number of baskets issued</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NumberOfBasketsIssued" xlink:to="lab_aaau_NumberOfBasketsIssued" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NumberOfBasketsIssued" xml:lang="en-US">Number Of Baskets Issued.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NumberOfBasketsRedeemed" xlink:label="loc_aaau_NumberOfBasketsRedeemed" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NumberOfBasketsRedeemed" xml:lang="en-US">Number Of Baskets Redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_NumberOfBasketsRedeemed" xml:lang="en-US">Number of baskets redeemed</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NumberOfBasketsRedeemed" xlink:to="lab_aaau_NumberOfBasketsRedeemed" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NumberOfBasketsRedeemed" xml:lang="en-US">Number Of Baskets Redeemed.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_AnnualizedRateOfSponsorsFee" xlink:label="loc_aaau_AnnualizedRateOfSponsorsFee" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_AnnualizedRateOfSponsorsFee" xml:lang="en-US">Annualized rate of Sponsors Fee</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_AnnualizedRateOfSponsorsFee" xml:lang="en-US">Annualized rate of sponsors fee</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_AnnualizedRateOfSponsorsFee" xlink:to="lab_aaau_AnnualizedRateOfSponsorsFee" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_AnnualizedRateOfSponsorsFee" xml:lang="en-US">Annualized rate of sponsors fee.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_IssuanceOfSharesBasketOfShares" xlink:label="loc_aaau_IssuanceOfSharesBasketOfShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_IssuanceOfSharesBasketOfShares" xml:lang="en-US">Basket of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_IssuanceOfSharesBasketOfShares" xml:lang="en-US">Basket of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_IssuanceOfSharesBasketOfShares" xlink:to="lab_aaau_IssuanceOfSharesBasketOfShares" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_IssuanceOfSharesBasketOfShares" xml:lang="en-US">Issuance Of Shares, Basket Of Shares</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_TransactionFee" xlink:label="loc_aaau_TransactionFee" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_TransactionFee" xml:lang="en-US">Transaction fee</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_TransactionFee" xml:lang="en-US">Transaction fee (in Dollars)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_TransactionFee" xlink:to="lab_aaau_TransactionFee" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_TransactionFee" xml:lang="en-US">Transaction fee.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ScheduleOfValuationOfInvestmentsAbstract" xlink:label="loc_aaau_ScheduleOfValuationOfInvestmentsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ScheduleOfValuationOfInvestmentsAbstract" xml:lang="en-US">Schedule Of Valuation Of Investments [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ScheduleOfValuationOfInvestmentsAbstract" xml:lang="en-US">Schedule of valuation of investments [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ScheduleOfValuationOfInvestmentsAbstract" xlink:to="lab_aaau_ScheduleOfValuationOfInvestmentsAbstract" />
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_TransfersOfBullionOunces" xlink:label="loc_aaau_TransfersOfBullionOunces" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_TransfersOfBullionOunces" xml:lang="en-US">Transfer of gold to pay expenses (in Ounces)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_TransfersOfBullionOunces" xml:lang="en-US">Transfer of gold to pay expenses (in Ounces)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_TransfersOfBullionOunces" xlink:to="lab_aaau_TransfersOfBullionOunces" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_TransfersOfBullionOunces" xml:lang="en-US">Ounces of bullion transferred to pay Trust's expenses.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullionInOunces" xlink:label="loc_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullionInOunces" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullionInOunces" xml:lang="en-US">Change in unrealized appreciation/depreciation on investment in gold (in Ounces)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullionInOunces" xml:lang="en-US">Change in unrealized appreciation (depreciation) on investment in gold (in Ounces)</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ChangeInUnrealizedAppreciationdepreciationOnInvestmentInGoldBullionInOunces" xml:lang="en-US">Change in unrealized appreciation/depreciation on investment in gold bullion (in Ounces).</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_RedemptionsOuncesOfBullion" xlink:label="loc_aaau_RedemptionsOuncesOfBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_RedemptionsOuncesOfBullion" xml:lang="en-US">Redemptions (in Ounces)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_RedemptionsOuncesOfBullion" xml:lang="en-US">Redemptions (in Ounces)</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_RedemptionsOuncesOfBullion" xml:lang="en-US">Ounces of bullion paid out of the Trust's account in respect of redemptions.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_CreationsOuncesOfBullion" xlink:label="loc_aaau_CreationsOuncesOfBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_CreationsOuncesOfBullion" xml:lang="en-US">Creations (in Ounces)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_CreationsOuncesOfBullion" xml:lang="en-US">Creations (in Ounces)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_CreationsOuncesOfBullion" xlink:to="lab_aaau_CreationsOuncesOfBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_CreationsOuncesOfBullion" xml:lang="en-US">Ounces of bullion received into the Trust's account in respect of creations.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_CreationsValueOfBullion" xlink:label="loc_aaau_CreationsValueOfBullion" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_CreationsValueOfBullion" xml:lang="en-US">CreationsValueOfBullion</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_CreationsValueOfBullion" xml:lang="en-US">Creations</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_CreationsValueOfBullion" xml:lang="en-US">Amount of creations of bullion in investment.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" xlink:label="loc_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" xml:lang="en-US">ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" xml:lang="en-US">Redemptions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" xlink:to="lab_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ValueOfBullionDistributedForRedemptionOfSharesExcludingBullionPayable" xml:lang="en-US">Value of bullion distributed at average cost for the redemption of Shares excluding bullion payable.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_CostOfBullionTransferredToPayExpenses" xlink:label="loc_aaau_CostOfBullionTransferredToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_CostOfBullionTransferredToPayExpenses" xml:lang="en-US">CostOfBullionTransferredToPayExpenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_aaau_CostOfBullionTransferredToPayExpenses" xml:lang="en-US">Transfer of gold to pay expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_CostOfBullionTransferredToPayExpenses" xlink:to="lab_aaau_CostOfBullionTransferredToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_CostOfBullionTransferredToPayExpenses" xml:lang="en-US">Cost of Bullion transferred to pay Trust's expenses.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" xlink:label="loc_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Value Of Net Realized Gain Loss From Gold Transferred To Pay Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Net realized gain (loss) from gold transferred to pay expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" xlink:to="lab_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Net realized gain (loss) from gold transferred to pay expenses</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetRealizedGainLossDistributedForRedemptions" xlink:label="loc_aaau_NetRealizedGainLossDistributedForRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetRealizedGainLossDistributedForRedemptions" xml:lang="en-US">Net Realized Gain Loss Distributed For Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetRealizedGainLossDistributedForRedemptions" xml:lang="en-US">Net realized gain (loss) from gold bullion distributed for redemptions (in Ounces)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_aaau_NetRealizedGainLossDistributedForRedemptions" xlink:to="lab_aaau_NetRealizedGainLossDistributedForRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetRealizedGainLossDistributedForRedemptions" xml:lang="en-US">Net Realized Gain Loss Distributed For Redemptions.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_NetRealizedGainLossFromGoldTransferredToPayExpenses" xlink:label="loc_aaau_NetRealizedGainLossFromGoldTransferredToPayExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_NetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Net Realized Gain Loss From Gold Transferred To Pay Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_NetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Net realized gain (loss) from gold transferred to pay expenses (in Ounces)</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_NetRealizedGainLossFromGoldTransferredToPayExpenses" xml:lang="en-US">Net Realized Gain Loss From Gold Transferred To Pay Expenses.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_ValueOfNetRealizedGainLossFromGoldBullionDistributedForRedemptions" xlink:label="loc_aaau_ValueOfNetRealizedGainLossFromGoldBullionDistributedForRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldBullionDistributedForRedemptions" xml:lang="en-US">Value Of Net Realized Gain Loss From Gold Bullion Distributed For Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldBullionDistributedForRedemptions" xml:lang="en-US">Net realized gain (loss) from gold bullion distributed for redemptions</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_ValueOfNetRealizedGainLossFromGoldBullionDistributedForRedemptions" xml:lang="en-US">Net realized gain (loss) from gold bullion distributed for redemptions.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_PaymentOfMaximumAmountOfExpenses" xlink:label="loc_aaau_PaymentOfMaximumAmountOfExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_PaymentOfMaximumAmountOfExpenses" xml:lang="en-US">Payment of maximum amount of expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_PaymentOfMaximumAmountOfExpenses" xml:lang="en-US">Payment of maximum amount of expenses</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_PaymentOfMaximumAmountOfExpenses" xml:lang="en-US">Payment of maximum amount of expenses.</label>
<loc xlink:type="locator" xlink:href="aaau-20221231.xsd#aaau_PercentageOfFundsAsset" xlink:label="loc_aaau_PercentageOfFundsAsset" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_aaau_PercentageOfFundsAsset" xml:lang="en-US">Percentage of funds asset</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_aaau_PercentageOfFundsAsset" xml:lang="en-US">Percentage of funds asset</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_aaau_PercentageOfFundsAsset" xml:lang="en-US">Percentage of funds asset used as payment for or collateral for Treasury Instruments.</label>
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