Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

A. Basis of Accounting

The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.

Investment, Policy [Policy Text Block]

B. Gold Bullion

JPMorgan Chase Bank N.A., London branch (the “Custodian”), is responsible for the safekeeping of gold bullion owned by the Trust.

Fair value of the gold bullion held by the Trust is based on that day’s London Bullion Market Association (“LBMA”) Gold Price PM. “LBMA Gold Price PM” is the price per fine troy ounce of gold, stated in U.S. dollars, determined by ICE Benchmark Administration (“IBA”) following an electronic auction consisting of one or more 30-second rounds starting at 3:00 p.m. (London time), on each day that the London gold market is open for business and published shortly thereafter. If there is no LBMA Gold Price PM on any day, the Trustee is authorized to use the most recently announced price of gold determined in an electronic auction hosted by IBA that begins at 10:30 a.m. (London time) (“LBMA Gold Price AM”) unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate as a basis for evaluation.

Gain or loss on sales of gold bullion is calculated on a trade date basis using the average cost method.

The following tables summarize activity in gold bullion for the years ended December 31, 2022, 2021 and 2020:

Year Ended December 31, 2022	Ounces			Cost			Fair Value			Realized Gain (Loss)
Beginning balance		15,784,325		$	23,722,912,868		$	28,729,048,695		$	—
Gold bullion contributed		1,587,029			2,989,014,129			2,989,014,129			—
Gold bullion distributed		(2,896,772	)		(4,445,139,253	)		(5,018,182,038	)		573,042,785
Gold bullion sold to pay expenses		(40,061	)		(61,236,740	)		(71,964,743	)		10,728,003
Net realized gain		—			—			583,770,788			—
Net change in unrealized appreciation/depreciation		—			—			(1,051,283,081	)		—
Ending balance		14,434,521		$	22,205,551,004		$	26,160,403,750		$	583,770,788

Year Ended December 31, 2021	Ounces			Cost			Fair Value			Realized Gain (Loss)
Beginning balance		16,881,652		$	25,014,142,586		$	31,924,891,396		$	—
Gold bullion contributed		1,010,824			1,853,104,516			1,853,104,516			—
Gold bullion distributed		(2,067,597	)		(3,083,787,949	)		(3,649,216,540	)		565,428,591
Gold bullion sold to pay expenses		(40,554	)		(60,546,285	)		(73,370,533	)		12,824,248
Net realized gain		—			—			578,252,839			—
Net change in unrealized appreciation/depreciation		—			—			(1,904,612,983	)		—
Ending balance		15,784,325		$	23,722,912,868		$	28,729,048,695		$	578,252,839

Year Ended December 31, 2020	Ounces			Cost			Fair Value			Realized Gain (Loss)
Beginning balance		11,577,252		$	15,094,673,874		$	17,632,155,037		$	—
Gold bullion contributed		6,866,938			12,103,493,289			12,103,493,289			—
Gold bullion distributed		(1,527,240	)		(2,134,454,305	)		(2,617,761,048	)		483,306,743
Gold bullion sold to pay expenses		(35,298	)		(49,570,272	)		(62,451,444	)		12,881,172
Net realized gain		—			—			496,187,915			—
Net change in unrealized appreciation/depreciation		—			—			4,373,267,647			—
Ending balance		16,881,652		$	25,014,142,586		$	31,924,891,396		$	496,187,915

Calculation of Net Asset Value [Policy Text Block]

C. Calculation of Net Asset Value

On each business day, as soon as practicable after 4:00 p.m. (New York time), the net asset value of the Trust is obtained by subtracting all accrued fees, expenses and other liabilities of the Trust from the fair value of the gold and other assets held by the Trust. The Trustee computes the net asset value per Share by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.

Offering of the Shares [Policy Text Block]

D. Offering of the Shares

Trust Shares are issued and redeemed continuously in aggregations of 50,000 Shares in exchange for gold bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”). Holders of Shares of the Trust may redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of 50,000 Shares; provided, that redemptions of Shares may be suspended during any period while regular trading on NYSE Arca, Inc. (“NYSE Arca”) is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of gold is not reasonably practicable.

The per Share amount of gold exchanged for a purchase or redemption represents the per Share amount of gold held by the Trust, after giving effect to its liabilities.

When gold bullion is exchanged in settlement of a redemption, it is considered a sale of gold bullion for accounting purposes.

Share activities for the years ended December 31, 2022, 2021 and 2020 were as follows:

	December 31,
	2022						2021						2020
	Shares			Amount			Shares(a)			Amount			Shares(a)			Amount
Shares issued		83,500,000		$	2,989,014,129			53,075,000		$	1,853,104,516			359,650,000		$	12,103,493,289
Shares redeemed		(152,550,000	)		(5,018,182,038	)		(108,550,000	)		(3,649,216,540	)		(80,000,000	)		(2,617,761,048	)
Net increase (decrease)		(69,050,000	)	$	(2,029,167,909	)		(55,475,000	)	$	(1,796,112,024	)		279,650,000		$	9,485,732,241

(a)  Share transactions reflect a one-for-two reverse stock split effective at market open on May 24, 2021.

Income Tax, Policy [Policy Text Block]

E. Federal Income Taxes

The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses, gains and losses are passed through to the holders of Shares of the Trust.

The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of December 31, 2022 and does not believe that there are any uncertain tax positions that require recognition of a tax liability.