Period from June 15, 2021 (Date of Inception) to December 31, 2021

Ounces

Cost

Fair Value

Realized
Gain (Loss)

Beginning balance

5,000

$

9,325,500

$

9,325,500

$

—

Gold bullion contributed

494,428

885,306,489

—

Gold bullion distributed

(19,992

)

(35,810,420

)

(35,912,133

)

101,713

Gold bullion sold to pay expenses

(102

)

(183,502

)

(183,110

)

(392

)

Net realized gain

—

101,321

—

Net change in unrealized appreciation/depreciation

—

13,796,050

—

Ending balance

479,334

$

858,638,067

$

872,434,117

$

101,321