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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 9 Months Ended
Sep. 30, 2014
oz
Sep. 30, 2013
oz
Sep. 30, 2014
oz
Sep. 30, 2013
oz
Activity in Gold Bullion [Abstract]        
Beginning balance (in Ounces) 5,297,300 5,756,200 5,220,500 6,999,900
Beginning balance, average cost $ 6,387,552   $ 6,272,422  
Beginning balance, fair value 6,965,884   6,272,422  
Gold bullion contributed (in Ounces) 69,800 135,900 298,600 551,500
Gold bullion contributed, average cost 91,225 175,446 389,402 847,967
Gold bullion contributed, fair value 91,225 175,446 389,402 847,967
Gold distributed (in Ounces) (141,400) (176,700) (286,800) (1,827,500)
Gold distributed, average cost (170,668) (237,938) (345,740) (2,458,045)
Gold distributed, fair value (176,498) (227,490) (360,752) (2,652,558)
Gold distributed, realized gain (loss)   (10,448)   194,513
Gold bullion distributed (in Ounces) (141,400) (176,700) (286,800) (1,827,500)
Gold bullion distributed, average cost (170,668) (237,938) (345,740) (2,458,045)
Gold bullion distributed, fair value (176,498) (227,490) (360,752) (2,652,558)
Gold bullion distributed, realized gain (loss) 5,830   15,012 194,513
Gold bullion sold (in Ounces) (3,400) (3,700) (10,000) (12,200)
Gold bullion sold, average cost (4,028) (4,958) (12,003) (16,404)
Gold sold, fair value (4,321) (4,846) (12,752) (18,230)
Gold sold, realized gain (loss) 293 (112) 749 1,826
Adjustment to gold bullion inventory    [1],[2] 782,673 [1],[2],[3]    [1],[2],[4] (111,955) [1],[2],[4],[5]
Adjustment for realized gain or loss   (10,560)   196,339
Adjustment for unrealized gain or loss on gold bullion   782,673   (2,444,683)
Ending balance (in Ounces) 5,222,300 [6] 5,711,700 5,222,300 [6] 5,711,700
Ending balance, average cost   7,576,618   7,576,618
Ending balance, fair value   7,576,618   7,576,618
Ending balance, realized gain (loss)   (10,560)   196,339
Adjustment for realized gain, fair value 6,123   15,761  
Adjustment for unrealized gain (loss) on gold, fair value (529,525)   48,807  
Ending balance, average cost 6,304,081 [6]   6,304,081 [6]  
Ending balance, fair value 6,352,888 [6],[7]   6,352,888 [6],[7]  
Ending balance, realized gain (loss) 6,123   15,761  
Beginning balance, average cost   6,861,395   9,315,055
Beginning balance, fair value   $ 6,861,395 $ 6,272,422 $ 11,647,783
[1] In connection with the lower of cost or market valuation standard for inventory, at September 30, 2013 a market value recovery was recorded to partially offset the previously recorded market value reserve. 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 interim financial statements was incorrect. The recognition of a market value reserve to the Trust's inventory at September 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 interim 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 nine months ended September 30, 2013, total gain on gold was overstated by $894,628,016 and total expenses were overstated by the same amount in the previously issued interim 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 interim financial statements; however, because of the amount involved with this adjustment, the presentation has been corrected, and the previously filed financial statements for the nine months ended September 30, 2013 have been revised accordingly.
[3] Previously reported as "market value recovery."
[4] Net value of amounts previously reported as "market value reserve" and "market value recovery." Please refer to Note 2C for accounting policy.
[5] Net value of amounts previously reported as "market value reserve" and "market value recovery."
[6] 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.
[7] Presented at fair value at September 30, 2014 (cost: $6,304,081).