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Note 2 - Summary of Significant Accounting Policies (Details) - Activity in Gold Bullion (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
oz
Jun. 30, 2013
oz
Jun. 30, 2014
oz
Jun. 30, 2013
oz
Activity in Gold Bullion [Abstract]        
Beginning balance (in Ounces) 5,311,400 6,821,000 5,220,500 6,999,900
Beginning balance, average cost $ 6,397,523   $ 6,272,422  
Beginning balance, fair value 6,860,967   6,272,422  
Gold contributed (in Ounces) 73,600   228,800 415,600
Gold contributed, average cost 95,742   298,177 672,521
Gold contributed, fair value 95,742   298,177 672,521
Gold distributed (in Ounces) (84,300) (1,060,700) (145,400) (1,650,800)
Gold distributed, average cost (101,571) (1,429,134) (175,072) (2,220,107)
Gold distributed, fair value (106,925) (1,483,453) (184,254) (2,425,068)
Gold distributed, realized gain (loss) 5,354 54,319 9,182 204,961
Gold sold (in Ounces) (3,400) (4,100) (6,600) (8,500)
Gold sold, average cost (4,142) (5,627) (7,975) (11,446)
Gold sold, fair value (4,364) (6,195) (8,431) (13,384)
Gold sold, realized gain (loss) 222 568 456 1,938
Adjustment to gold bullion inventory    [1],[2] (894,628) [1],[2],[3]    [1],[2],[4] (894,628) [1],[2],[3],[4]
Adjustment for realized gain   54,887   206,899
Adjustment for unrealized loss on gold bullion   (2,605,548)   (3,227,356)
Ending balance (in Ounces) 5,297,300 [5] 5,756,200 5,297,300 [5] 5,756,200
Ending balance, average cost   6,861,395   6,861,395
Ending balance, fair value   6,861,395   6,861,395
Ending balance, realized gain (loss)   54,887   206,899
Adjustment for realized gain, fair value 5,576   9,638  
Adjustment for unrealized gain (loss) on gold, fair value 114,888   578,332  
Ending balance, average cost 6,387,552 [5]   6,387,552 [5]  
Ending balance, fair value 6,965,884 [5],[6]   6,965,884 [5],[6]  
Ending balance, realized gain (loss) 5,576   9,638  
Beginning balance, average cost   9,190,784   9,315,055
Beginning balance, fair value   $ 10,901,704 $ 6,272,422 $ 11,647,783
[1] In connection with the lower of cost or market valuation standard for inventory, at June 30, 2013 a market value reserve was recorded against the carrying value of the Trust's gold bullion inventory as a result of the market value of gold bullion held falling below its average cost. Please refer to Note 2C for accounting policy.
[2] In connection with the annual reporting close for the year ended December 31, 2013, management determined the manner in which it had previously reported the market value reserve on the Trust's gold bullion inventory within previously issued quarterly financial statements was incorrect. The recognition of a market value reserve to the Trust's inventory at June 30, 2013, which represents the adjustment necessary to reflect the carrying value of gold bullion inventory to the lower of cost or market value, was incorrectly reported as an expense of the Trust in the previously issued quarterly financial statements. Management determined that, according to U.S. GAAP, adjustments to the carrying value of the Trust's gold bullion inventory should be reflected against the revenues such inventory generates. For the three months ended June 30, 2013 and six months ended June 30, 2013, total gain (loss) on gold was overstated by $894,628,016 and total expenses were overstated by the same amount in the previously issued quarterly financial statements. Management evaluated the impact of this correction to the previously issued financial statements and determined that the historical presentation of the inventory reserves did not materially misstate the previously issued quarterly financial statements; however, because of the amount involved with this adjustment, the presentation has been corrected, and the previously filed financial statements for the three and six months ended June 30, 2013 have been revised accordingly.
[3] Previously reported as "market value reserve."
[4] Previously reported as "market value reserve." Please refer to Note 2C for accounting policy.
[5] Effective January 1, 2014, the Trust qualifies as an investment company for accounting purposes. Disclosure of a schedule of investments is required for investment companies. Please refer to Note 2B.
[6] Presented at fair value at June 30, 2014 (cost: $6,387,552)