abrdn Precious Metals Basket ETF Trust (GLTR) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 06, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-34917
Entity Registrant Name	ABERDEEN STANDARD PRECIOUS METALS BASKET ETF TRUST
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	27-2780046
Entity Address, Address Line One	712 Fifth Avenue
Entity Address, Address Line Two	49th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	844
Local Phone Number	383-7289
Title of 12(b) Security	Aberdeen Standard Physical Precious Metals Basket Shares ETF
Trading Symbol	GLTR
Security Exchange Name	NYSEArca
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001483386
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		6,700,000

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($)		Mar. 31, 2020	Dec. 31, 2019
ASSETS
Investment in Bullion		$ 524,001,000	$ 491,706,000
Bullion receivable		0	7,619,507
Total Assets		524,001,000	499,326,000
LIABILITIES
Fees payable to Sponsor		270,643	248,496
Total Liabilities		271,000	248,000
Net assets	[1]	523,730,000	499,078,000
Gold [Member]
ASSETS
Investment in Bullion		314,816,000	277,466,000
Silver [Member]
ASSETS
Investment in Bullion		99,939,000	121,199,000
Platinum [Member]
ASSETS
Investment in Bullion		18,966,000	23,251,000
Palladium [Member]
ASSETS
Investment in Bullion		$ 90,280,000	$ 69,790,000
[1]	Authorized share capital is unlimited with no par value per Share. Shares issued and outstanding at March 31, 2020 were 6,900,000 and at December 31, 2019 were 6,550,000 . Net asset values per Share at March 31, 2020 and December 31, 2019 were $ 75.90 and $ 76.20 , respectively.

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Investment in Bullion at cost	$ 448,158	$ 407,094
Common stock, shares authorized	Unlimited	Unlimited
Common stock, par value
Common stock, shares issued	6,900,000	6,550,000
Common stock, shares outstanding	6,900,000	6,550,000
Net asset values per Share	$ 75.90	$ 76.20
Gold [Member]
Investment in Bullion at cost	$ 255,722	$ 232,995
Silver [Member]
Investment in Bullion at cost	123,548	115,243
Platinum [Member]
Investment in Bullion at cost	26,469	25,022
Palladium [Member]
Investment in Bullion at cost	$ 42,419	$ 33,834

Schedules of Investments

Schedules of Investments $ in Thousands		Mar. 31, 2020USD ($)oz	Dec. 31, 2019USD ($)oz
Investment Holdings [Line Items]
Investment in Bullion (oz) | oz		7,435,283.1	6,960,703.4
Cost		$ 448,158	$ 407,094
Fair Value		$ 524,001	$ 491,706
Fair Value, % of Net Assets		100.05%	98.52%
Less liabilities (Other assets less liabilities)		$ (271)	$ 7,372
Less liabilities (Other assets less liabilities), % of Net Assetsl		(0.05%)	1.48%
Net assets	[1]	$ 523,730	$ 499,078
Net assets, % of Net Assets		100.00%	100.00%
Gold [Member]
Investment Holdings [Line Items]
Investment in Bullion (oz) | oz		195,665.5	183,176.5
Cost		$ 255,722	$ 232,995
Fair Value		$ 314,816	$ 277,466
Fair Value, % of Net Assets		60.11%	55.60%
Silver [Member]
Investment Holdings [Line Items]
Investment in Bullion (oz) | oz		7,174,396.2	6,716,468.5
Cost		$ 123,548	$ 115,243
Fair Value		$ 99,939	$ 121,199
Fair Value, % of Net Assets		19.08%	24.28%
Platinum [Member]
Investment Holdings [Line Items]
Investment in Bullion (oz) | oz		26,088.5	24,423.3
Cost		$ 26,469	$ 25,022
Fair Value		$ 18,966	$ 23,251
Fair Value, % of Net Assets		3.62%	4.66%
Palladium [Member]
Investment Holdings [Line Items]
Investment in Bullion (oz) | oz		39,132.8	36,635
Cost		$ 42,419	$ 33,834
Fair Value		$ 90,280	$ 69,790
Fair Value, % of Net Assets		17.24%	13.98%
[1]	Authorized share capital is unlimited with no par value per Share. Shares issued and outstanding at March 31, 2020 were 6,900,000 and at December 31, 2019 were 6,550,000 . Net asset values per Share at March 31, 2020 and December 31, 2019 were $ 75.90 and $ 76.20 , respectively.

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
EXPENSES
Sponsor’s Fee	$ 795,664	$ 539,776
Total expenses	796,000	540,000
Net investment loss	(796,000)	(540,000)
REALIZED AND UNREALIZED GAINS / (LOSSES)
Realized gain on Bullion transferred to pay expenses	150,000	21,000
Realized gain on Bullion distributed for the redemption of Shares	1,351,000	954,000
Change in unrealized gain and loss on investment in Bullion	(8,769,000)	4,644,000
Total (loss) / gain on investment in Bullion	(7,268,000)	5,619,000
Change in net assets from operations	$ (8,064,000)	$ 5,079,000
Net increase / (decrease) in net assets per Share	$ (1.20)	$ 0.90
Weighted average number of Shares (in Shares)	6,742,857	5,648,889

Statements of Changes in Net As

Statements of Changes in Net Assets - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statements of Changes in Net Assets [Abstract]
Opening balance (in Shares)	6,550,000	5,700,000
Creations (in Shares)	650,000	100,000
Redemptions (in Shares)	(300,000)	(300,000)
Closing balance (in Shares)	6,900,000	5,500,000
Opening balance	$ 499,078	$ 359,264
Net investment loss	(796)	(540)
Realized gain on investment in Bullion	1,501	975
Change in unrealized gain on investment in Bullion	(8,769)	4,644
Creations	53,465	6,452
Redemptions	(20,749)	(19,439)
Closing balance	$ 523,730	$ 351,356

Financial Highlights

Financial Highlights - $ / shares		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Per Share Performance (for a Share outstanding throughout the entire period)
Net asset value per Share at beginning of period		$ 76.20	$ 63.03
Income from investment operations:
Net investment loss		(0.12)	(0.10)
Total realized and unrealized gains or losses on investment in Bullion		(0.18)	0.95
Change in net assets from operations		(0.30)	0.85
Net asset value per Share at end of period		$ 75.90	$ 63.88
Weighted average number of Shares		6,742,857	5,648,889
Expense ratio	[1]	0.60%	0.60%
Net investment loss ratio	[1]	(0.60%)	(0.60%)
Total return, net asset value	[2]	(0.39%)	1.35%
[1]	Annualized for periods of less than one year.
[2]	Total return is not annualized

Organization

Organization	3 Months Ended
	Mar. 31, 2020
Organization [Abstract]
Organization	1. Organization The Aberdeen Standard Precious Metals Basket ETF Trust (the “Trust”) is a common law trust formed on October 18, 2010, under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by Aberdeen Standard Investments ETFs Sponsor LLC (the “Sponsor”) and The Bank of New York Mellon as Trustee (the “Trustee”). The Trust holds gold, silver, platinum and palladium in set ratios (together, “Bullion”) and issues Aberdeen Standard Physical Precious Metals Basket Shares ETF (“Shares”) in minimum blocks of 50,000 Shares (also referred to as “Baskets”) in exchange for deposits of Bullion and distributes Bullion in connection with the redemption of Baskets. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company and a wholly-owned subsidiary of Aberdeen Standard Investments Inc. (“ASII”). ASII is a wholly-owned indirect subsidiary of Standard Life Aberdeen plc. The Trust is governed by the Trust Agreement. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the gold, silver, platinum and palladium markets through an investment in securities. The fiscal year end for the Trust is December 31. The accompanying financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions for the Form 10-Q. In the opinion of management of the Sponsor, all adjustments (which consist of normal recurring adjustments) necessary to present fairly the financial position and results of operations as of and for the three months ended March 31, 2020 and for all periods presented have been made. These financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the operating results for the full year.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The preparation of financial statements in accordance with U.S. GAAP requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust. 2.1 Basis of Accounting The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. 2.2. Valuation of Bullion The Trust follows the provisions of ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Bullion is held by JPMorgan Chase Bank, N.A. (the “Custodian”), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The allocated platinum and palladium may also be held by UBS AG, or any other firm selected by the Custodian to hold the Trust’s platinum and palladium in the Trust’s allocated account in the firm’s Zurich, Switzerland vault premises on a segregated basis and whose appointment has been approved by the Sponsor (the “Zurich Sub-Custodian”). At March 31, 2020, approximately 1.48 % of the Trust’s platinum and 1.32 % of the Trust’s palladium was held by the Zurich Sub-Custodian. At March 31, 2020 no gold or silver was held by the Zurich Sub-Custodian. The Trust’s Bullion is recorded, per individual metal type, at fair value. The cost of Bullion is determined according to the average cost method and the fair value is based on the relevant “London Metal Price” for each metal held by the Trust. This is the applicable “London Bullion Market Association (“LBMA”) PM Gold Price” for the price of an ounce of gold, the “LBMA Silver Price” for silver, and for platinum and palladium the applicable “London Metal Exchange (“LME”) PM Price”. Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis as the difference between the fair value and average cost of Bullion transferred. The LBMA PM Gold Price is set using the afternoon session of the ICE Benchmark Administration (“IBA”) equilibrium auction, an electronic, tradable and auditable over-the-counter auction market with the ability to settle trades in US Dollars, Euros or British Pounds for LBMA authorized participating gold bullion banks or market makers that establishes a reference gold price for that day’s trading. The “London Metal Price” for gold held by the Trust is the LBMA PM Gold Price. The IBA conducts an electronic, over-the-counter silver auction in London, England to establish a fixing price for an ounce of silver once each trading day, which is disseminated by major market vendors (the “LBMA Silver Price”). The LBMA Silver Price is established by the nine LBMA-authorized bullion banks and market makers participating in the auction and disseminated by major market vendors. Prior to October 2, 2017, the LBMA Silver Price auction was operated by CME Group Inc. and Thomson Reuters. The “London Metal Price” for silver held by the Trust is the LBMA Silver Price. The LME is responsible for the administration of the electronic platinum and palladium bullion price fixing system (“LMEbullion”) as well as providing electronic market clearing processes for platinum and palladium bullion transactions at the fixed prices established by the LME pricing mechanism. LMEbullion establishes and publishes fixed prices for troy ounces of platinum and palladium twice each London trading day during fixing sessions beginning at 9:45 a.m. London time (the “LME AM Fix”) and 2:00 p.m. London time (the “LME PM Fix”). The “London Metal Price” for platinum and palladium held by the Trust is the LME PM Fix. Once the value of Bullion has been determined, the net asset value (the “NAV”) is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the “Sponsor’s Fee”), from the fair value of the Bullion and all other assets held by the Trust. 2.2. Valuation of Bullion (Continued) The Trust recognizes changes in fair value of the investment in Bullion as changes in unrealized gains or losses on investment in Bullion through the Statement of Operations. The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Metal Price for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. Fair Value Hierarchy ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: – Level 1. Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. – Level 2. Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. – Level 3. Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The investment in Bullion is classified as a level 2 asset, as the Trust’s investment in Bullion is calculated using primary market pricing sources supported by observable, verifiable inputs. The categorization of the Trust’s assets is as shown below: (Amounts in 000's of US$) March 31, 2020 December 31, 2019 Level 2 Investment in Bullion $ 524,001 $ 491,706 There were no transfers between levels during the three months ended March 31, 2020 or the year ended December 31, 2019. 2.3. Bullion Receivable and Payable Bullion receivable or payable represents the quantity of Bullion covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet been transferred to or from the Trust’s account. Generally, ownership of Bullion is transferred within two business days of the trade date. At March 31, 2020, the Trust had no Bullion receivable or payable for the creation or redemption of Shares. At December 31, 2019, the Trust had $ 7,619,507 of Bullion receivable for the creation of Shares and no Bullion payable for the redemption of Shares . 2.4. Creations and Redemptions of Shares The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets (a Basket equals a block of 50,000 Shares). The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is registered as a broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor, and (4) has established an Authorized Participant Unallocated Account with the Trust’s Custodian or other Bullion clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is two business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes. The amount of Bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000th of an ounce of each metal. As a result, the value attributed to the creation or redemption of Shares may differ from the value of Bullion to be delivered or distributed by the Trust. In order to ensure that the correct amount of bullion is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess on each transaction. For each transaction, this amount is not more than 1/1000th of an ounce of each metal. As the Shares of the Trust are subject to redemption at the option of Authorized Participants, the Trust has classified the outstanding Shares as Net Assets. Changes in the number of Shares outstanding are presented in the Statement of Changes in Net Assets. 2.5. Income Taxes The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of March 31, 2020 or December 31, 2019. 2.6. Investment in Bullion Changes in ounces of Bullion and their respective values for the three months ended March 31, 2020 and 2019 are set out below: (Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2020 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 183,176.5 6,716,468.5 24,423.3 36,635.0 6,960,703.4 Creations 21,272.9 780,005.0 2,836.4 4,254.6 808,368.9 Redemptions ( 8,506.4 ) ( 311,901.7 ) ( 1,134.2 ) ( 1,701.3 ) ( 323,243.6 ) Transfers of Bullion to pay expenses ( 277.5 ) ( 10,175.6 ) ( 37.0 ) ( 55.5 ) ( 10,545.6 ) Closing balance 195,665.5 7,174,396.2 26,088.5 39,132.8 7,435,283.1 Investment in Bullion Opening balance $ 277,466 $ 121,199 $ 23,251 $ 69,790 $ 491,706 Creations 34,157 13,848 2,637 10,443 61,085 Redemptions ( 12,944 ) ( 4,157 ) ( 786 ) ( 2,862 ) ( 20,749 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 1,871 ( 1,212 ) ( 366 ) 1,058 1,351 Transfers of Bullion to pay expenses ( 434 ) ( 172 ) ( 32 ) ( 135 ) ( 773 ) Realized gain / (loss) on Bullion transferred to pay expenses 78 ( 3 ) ( 6 ) 81 150 Change in unrealized gain / (loss) on investment in Bullion 14,622 ( 29,564 ) ( 5,732 ) 11,905 ( 8,769 ) Closing balance $ 314,816 $ 99,939 $ 18,966 $ 90,280 $ 524,001 (Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2019 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 162,854.5 5,971,327.0 21,713.7 32,570.6 6,188,465.8 Creations 2,854.4 104,660.3 380.6 570.9 108,466.2 Redemptions ( 8,559.3 ) ( 313,839.5 ) ( 1,141.2 ) ( 1,711.9 ) ( 325,251.9 ) Transfers of Bullion to pay expenses ( 241.5 ) ( 8,854.3 ) ( 32.2 ) ( 48.3 ) ( 9,176.3 ) Closing balance 156,908.1 5,753,293.5 20,920.9 31,381.3 5,962,503.8 Investment in Bullion Opening balance $ 208,722 $ 92,347 $ 17,241 $ 41,137 $ 359,447 Creations 3,714 1,638 309 791 6,452 Redemptions ( 11,152 ) ( 4,842 ) ( 925 ) ( 2,520 ) ( 19,439 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 595 ( 545 ) ( 273 ) 1,177 954 Transfers of Bullion to pay expenses ( 313 ) ( 138 ) ( 26 ) ( 66 ) ( 543 ) Realized gain / (loss) on Bullion transferred to pay expenses 15 ( 14 ) ( 8 ) 28 21 Change in unrealized gain / (loss) on investment in Bullion 1,677 ( 1,571 ) 1,465 3,073 4,644 Closing balance $ 203,258 $ 86,875 $ 17,783 $ 43,620 $ 351,536 2.7. Expenses / Realized Gains / Losses The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of Bullion to the Sponsor. The Trust will transfer Bullion to the Sponsor to pay the Sponsor’s Fee that accrues daily at an annualized rate equal to 0.60 % of the adjusted net asset value (the “ANAV”) of the Trust, paid monthly in arrears. The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and up to $ 100,000 per annum in legal expenses. For the three months ended March 31, 2020 and 2019 , the Sponsor’s Fee was $ 795,664 and $ 539,776 , respectively. At March 31, 2020 and at December 31, 2019, the fees payable to the Sponsor were $ 270,643 and $ 248,496 , respectively. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion needed to pay these expenses in order to minimize the Trust’s holdings of assets other than Bullion. Other than the Sponsor’s Fee, the Trust had no expenses during the three months ended March 31, 2020 and 2019. Unless otherwise directed by the Sponsor, when selling Bullion the Trustee will endeavor to sell at the price established by the London Metal Price for each metal held by the Trust. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at the London Metal Price for each metal held by the Trust used by the Trustee to value the Trust’s Bullion. A gain or loss is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of Bullion for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and average cost of Bullion transferred. 2.8. Subsequent Events In accordance with the provisions set forth in FASB ASC 855-10, Subsequent Events , the Trust’s management has evaluated the possibility of subsequent events impacting the Trust’s financial statements through the filing date. During this period, no material subsequent events requiring adjustment to or disclosure in the financial statements were identified.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2020
Related Parties [Abstract]
Related Parties	3. Related Parties The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s and Custodian’s fees are paid by the Sponsor and are not separate expenses of the Trust. The Trustee and the Custodian and their affiliates may from time to time act as Authorized Participants and purchase or sell Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion. In addition the Trustee and the Custodian and their affiliates may from time to time purchase or sell Bullion directly, for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

Concentration Of Risk

Concentration Of Risk	3 Months Ended
	Mar. 31, 2020
Concentration Of Risk [Abstract]
Concentration Of Risk	4. Concentration of Risk The Trust’s sole business activity is the investment in Bullion, and substantially all the Trust’s assets are holdings of Bullion which creates a concentration risk associated with fluctuations in the price of Bullion. Several factors could affect the price of Bullion, including: (i) global Bullion supply and demand, which is influenced by factors such as general changes in economic conditions, such as a recession or other economic downturn, recycling, autocatalyst demand, industrial demand, jewelry demand and investment demand, central bank purchases and sales, and production and cost levels in major Bullion-producing countries; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that Bullion will maintain its long-term value in terms of purchasing power in the future. In the event that the price of Bullion declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

Indemnification

Indemnification	3 Months Ended
	Mar. 31, 2020
Indemnification [Abstract]
Indemnification	5. Indemnification Under the Trust’s organizational documents, the Trustee (and its directors, employees and agents) and the Sponsor (and its members, managers, directors, officers, employees and affiliates) are indemnified by the Trust against any liability, cost or expense it incurs without gross negligence, bad faith, willful misconduct or willful malfeasance on its part and without reckless disregard on its part of its obligations and duties under the Trust’s organizational documents. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Basis Of Accounting	2.1 Basis of Accounting The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that for reporting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act.
Valuation Of Bullion	2.2. Valuation of Bullion The Trust follows the provisions of ASC 820, Fair Value Measurement (“ASC 820”). ASC 820 provides guidance for determining fair value and requires increased disclosure regarding the inputs to valuation techniques used to measure fair value. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Bullion is held by JPMorgan Chase Bank, N.A. (the “Custodian”), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The allocated platinum and palladium may also be held by UBS AG, or any other firm selected by the Custodian to hold the Trust’s platinum and palladium in the Trust’s allocated account in the firm’s Zurich, Switzerland vault premises on a segregated basis and whose appointment has been approved by the Sponsor (the “Zurich Sub-Custodian”). At March 31, 2020, approximately 1.48 % of the Trust’s platinum and 1.32 % of the Trust’s palladium was held by the Zurich Sub-Custodian. At March 31, 2020 no gold or silver was held by the Zurich Sub-Custodian. The Trust’s Bullion is recorded, per individual metal type, at fair value. The cost of Bullion is determined according to the average cost method and the fair value is based on the relevant “London Metal Price” for each metal held by the Trust. This is the applicable “London Bullion Market Association (“LBMA”) PM Gold Price” for the price of an ounce of gold, the “LBMA Silver Price” for silver, and for platinum and palladium the applicable “London Metal Exchange (“LME”) PM Price”. Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis as the difference between the fair value and average cost of Bullion transferred. The LBMA PM Gold Price is set using the afternoon session of the ICE Benchmark Administration (“IBA”) equilibrium auction, an electronic, tradable and auditable over-the-counter auction market with the ability to settle trades in US Dollars, Euros or British Pounds for LBMA authorized participating gold bullion banks or market makers that establishes a reference gold price for that day’s trading. The “London Metal Price” for gold held by the Trust is the LBMA PM Gold Price. The IBA conducts an electronic, over-the-counter silver auction in London, England to establish a fixing price for an ounce of silver once each trading day, which is disseminated by major market vendors (the “LBMA Silver Price”). The LBMA Silver Price is established by the nine LBMA-authorized bullion banks and market makers participating in the auction and disseminated by major market vendors. Prior to October 2, 2017, the LBMA Silver Price auction was operated by CME Group Inc. and Thomson Reuters. The “London Metal Price” for silver held by the Trust is the LBMA Silver Price. The LME is responsible for the administration of the electronic platinum and palladium bullion price fixing system (“LMEbullion”) as well as providing electronic market clearing processes for platinum and palladium bullion transactions at the fixed prices established by the LME pricing mechanism. LMEbullion establishes and publishes fixed prices for troy ounces of platinum and palladium twice each London trading day during fixing sessions beginning at 9:45 a.m. London time (the “LME AM Fix”) and 2:00 p.m. London time (the “LME PM Fix”). The “London Metal Price” for platinum and palladium held by the Trust is the LME PM Fix. Once the value of Bullion has been determined, the net asset value (the “NAV”) is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the “Sponsor’s Fee”), from the fair value of the Bullion and all other assets held by the Trust. 2.2. Valuation of Bullion (Continued) The Trust recognizes changes in fair value of the investment in Bullion as changes in unrealized gains or losses on investment in Bullion through the Statement of Operations. The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Metal Price for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred. Fair Value Hierarchy ASC 820 establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: – Level 1. Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. – Level 2. Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments and similar data. – Level 3. Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The investment in Bullion is classified as a level 2 asset, as the Trust’s investment in Bullion is calculated using primary market pricing sources supported by observable, verifiable inputs. The categorization of the Trust’s assets is as shown below: (Amounts in 000's of US$) March 31, 2020 December 31, 2019 Level 2 Investment in Bullion $ 524,001 $ 491,706 There were no transfers between levels during the three months ended March 31, 2020 or the year ended December 31, 2019.
Bullion Receivable And Payable	2.3. Bullion Receivable and Payable Bullion receivable or payable represents the quantity of Bullion covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet been transferred to or from the Trust’s account. Generally, ownership of Bullion is transferred within two business days of the trade date.
Creations And Redemptions Of Shares	2.4. Creations and Redemptions of Shares The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets (a Basket equals a block of 50,000 Shares). The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is registered as a broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor, and (4) has established an Authorized Participant Unallocated Account with the Trust’s Custodian or other Bullion clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is two business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes. The amount of Bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000th of an ounce of each metal. As a result, the value attributed to the creation or redemption of Shares may differ from the value of Bullion to be delivered or distributed by the Trust. In order to ensure that the correct amount of bullion is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess on each transaction. For each transaction, this amount is not more than 1/1000th of an ounce of each metal. As the Shares of the Trust are subject to redemption at the option of Authorized Participants, the Trust has classified the outstanding Shares as Net Assets. Changes in the number of Shares outstanding are presented in the Statement of Changes in Net Assets.
Income Taxes	2.5. Income Taxes The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of March 31, 2020 or December 31, 2019.
Investment In Bullion	2.6. Investment in Bullion Changes in ounces of Bullion and their respective values for the three months ended March 31, 2020 and 2019 are set out below: (Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2020 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 183,176.5 6,716,468.5 24,423.3 36,635.0 6,960,703.4 Creations 21,272.9 780,005.0 2,836.4 4,254.6 808,368.9 Redemptions ( 8,506.4 ) ( 311,901.7 ) ( 1,134.2 ) ( 1,701.3 ) ( 323,243.6 ) Transfers of Bullion to pay expenses ( 277.5 ) ( 10,175.6 ) ( 37.0 ) ( 55.5 ) ( 10,545.6 ) Closing balance 195,665.5 7,174,396.2 26,088.5 39,132.8 7,435,283.1 Investment in Bullion Opening balance $ 277,466 $ 121,199 $ 23,251 $ 69,790 $ 491,706 Creations 34,157 13,848 2,637 10,443 61,085 Redemptions ( 12,944 ) ( 4,157 ) ( 786 ) ( 2,862 ) ( 20,749 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 1,871 ( 1,212 ) ( 366 ) 1,058 1,351 Transfers of Bullion to pay expenses ( 434 ) ( 172 ) ( 32 ) ( 135 ) ( 773 ) Realized gain / (loss) on Bullion transferred to pay expenses 78 ( 3 ) ( 6 ) 81 150 Change in unrealized gain / (loss) on investment in Bullion 14,622 ( 29,564 ) ( 5,732 ) 11,905 ( 8,769 ) Closing balance $ 314,816 $ 99,939 $ 18,966 $ 90,280 $ 524,001 (Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2019 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 162,854.5 5,971,327.0 21,713.7 32,570.6 6,188,465.8 Creations 2,854.4 104,660.3 380.6 570.9 108,466.2 Redemptions ( 8,559.3 ) ( 313,839.5 ) ( 1,141.2 ) ( 1,711.9 ) ( 325,251.9 ) Transfers of Bullion to pay expenses ( 241.5 ) ( 8,854.3 ) ( 32.2 ) ( 48.3 ) ( 9,176.3 ) Closing balance 156,908.1 5,753,293.5 20,920.9 31,381.3 5,962,503.8 Investment in Bullion Opening balance $ 208,722 $ 92,347 $ 17,241 $ 41,137 $ 359,447 Creations 3,714 1,638 309 791 6,452 Redemptions ( 11,152 ) ( 4,842 ) ( 925 ) ( 2,520 ) ( 19,439 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 595 ( 545 ) ( 273 ) 1,177 954 Transfers of Bullion to pay expenses ( 313 ) ( 138 ) ( 26 ) ( 66 ) ( 543 ) Realized gain / (loss) on Bullion transferred to pay expenses 15 ( 14 ) ( 8 ) 28 21 Change in unrealized gain / (loss) on investment in Bullion 1,677 ( 1,571 ) 1,465 3,073 4,644 Closing balance $ 203,258 $ 86,875 $ 17,783 $ 43,620 $ 351,536
Expenses / Realized Gains / Losses	2.7. Expenses / Realized Gains / Losses The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of Bullion to the Sponsor. The Trust will transfer Bullion to the Sponsor to pay the Sponsor’s Fee that accrues daily at an annualized rate equal to 0.60 % of the adjusted net asset value (the “ANAV”) of the Trust, paid monthly in arrears. The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and up to $ 100,000 per annum in legal expenses. For the three months ended March 31, 2020 and 2019 , the Sponsor’s Fee was $ 795,664 and $ 539,776 , respectively. At March 31, 2020 and at December 31, 2019, the fees payable to the Sponsor were $ 270,643 and $ 248,496 , respectively. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion needed to pay these expenses in order to minimize the Trust’s holdings of assets other than Bullion. Other than the Sponsor’s Fee, the Trust had no expenses during the three months ended March 31, 2020 and 2019. Unless otherwise directed by the Sponsor, when selling Bullion the Trustee will endeavor to sell at the price established by the London Metal Price for each metal held by the Trust. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at the London Metal Price for each metal held by the Trust used by the Trustee to value the Trust’s Bullion. A gain or loss is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale. Realized gains and losses result from the transfer of Bullion for Share redemptions and / or to pay expenses and are recognized on a trade date basis as the difference between the fair value and average cost of Bullion transferred.
Subsequent Events	2.8. Subsequent Events In accordance with the provisions set forth in FASB ASC 855-10, Subsequent Events , the Trust’s management has evaluated the possibility of subsequent events impacting the Trust’s financial statements through the filing date. During this period, no material subsequent events requiring adjustment to or disclosure in the financial statements were identified.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Categorization Of The Trust's Assets	(Amounts in 000's of US$) March 31, 2020 December 31, 2019 Level 2 Investment in Bullion $ 524,001 $ 491,706
Schedule Of Investment In Bullion	(Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2020 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 183,176.5 6,716,468.5 24,423.3 36,635.0 6,960,703.4 Creations 21,272.9 780,005.0 2,836.4 4,254.6 808,368.9 Redemptions ( 8,506.4 ) ( 311,901.7 ) ( 1,134.2 ) ( 1,701.3 ) ( 323,243.6 ) Transfers of Bullion to pay expenses ( 277.5 ) ( 10,175.6 ) ( 37.0 ) ( 55.5 ) ( 10,545.6 ) Closing balance 195,665.5 7,174,396.2 26,088.5 39,132.8 7,435,283.1 Investment in Bullion Opening balance $ 277,466 $ 121,199 $ 23,251 $ 69,790 $ 491,706 Creations 34,157 13,848 2,637 10,443 61,085 Redemptions ( 12,944 ) ( 4,157 ) ( 786 ) ( 2,862 ) ( 20,749 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 1,871 ( 1,212 ) ( 366 ) 1,058 1,351 Transfers of Bullion to pay expenses ( 434 ) ( 172 ) ( 32 ) ( 135 ) ( 773 ) Realized gain / (loss) on Bullion transferred to pay expenses 78 ( 3 ) ( 6 ) 81 150 Change in unrealized gain / (loss) on investment in Bullion 14,622 ( 29,564 ) ( 5,732 ) 11,905 ( 8,769 ) Closing balance $ 314,816 $ 99,939 $ 18,966 $ 90,280 $ 524,001 (Amounts in 000's of US$, except for ounces data) Three Months Ended March 31, 2019 Ounces of Bullion Gold Silver Platinum Palladium Total Opening balance 162,854.5 5,971,327.0 21,713.7 32,570.6 6,188,465.8 Creations 2,854.4 104,660.3 380.6 570.9 108,466.2 Redemptions ( 8,559.3 ) ( 313,839.5 ) ( 1,141.2 ) ( 1,711.9 ) ( 325,251.9 ) Transfers of Bullion to pay expenses ( 241.5 ) ( 8,854.3 ) ( 32.2 ) ( 48.3 ) ( 9,176.3 ) Closing balance 156,908.1 5,753,293.5 20,920.9 31,381.3 5,962,503.8 Investment in Bullion Opening balance $ 208,722 $ 92,347 $ 17,241 $ 41,137 $ 359,447 Creations 3,714 1,638 309 791 6,452 Redemptions ( 11,152 ) ( 4,842 ) ( 925 ) ( 2,520 ) ( 19,439 ) Realized gain / (loss) on Bullion distributed for the redemption of Shares 595 ( 545 ) ( 273 ) 1,177 954 Transfers of Bullion to pay expenses ( 313 ) ( 138 ) ( 26 ) ( 66 ) ( 543 ) Realized gain / (loss) on Bullion transferred to pay expenses 15 ( 14 ) ( 8 ) 28 21 Change in unrealized gain / (loss) on investment in Bullion 1,677 ( 1,571 ) 1,465 3,073 4,644 Closing balance $ 203,258 $ 86,875 $ 17,783 $ 43,620 $ 351,536

Organization (Details)

Organization (Details)	3 Months Ended
	Mar. 31, 2020shares
Organization [Abstract]
Minimum block of shares issued redeemed against bullion	50,000

Significant Accounting Polici_4

Significant Accounting Policies (Narrative) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Bullion [Line Items]
Basket of shares		50,000
Fair value transfers		$ 0		$ 0
Bullion receivable		0		7,619,507
Bullion payable		0		0
Reserve for uncertain tax positions		$ 0		0
Annualized rate of Sponsors Fee	[1]	0.60%	0.60%
Sponsor Fees		$ 795,664	$ 539,776
Fees payable to Sponsor		270,643		$ 248,496
Maximum sponsorfee for administrative and marketing expenses		100,000
All other expenses		$ 0	$ 0
Silver [Member]
Bullion [Line Items]
Percentage of assets help by Zurich Sub-Custodian		0.00%
Platinum [Member]
Bullion [Line Items]
Percentage of assets help by Zurich Sub-Custodian		1.48%
Palladium [Member]
Bullion [Line Items]
Percentage of assets help by Zurich Sub-Custodian		1.32%
Gold [Member]
Bullion [Line Items]
Percentage of assets help by Zurich Sub-Custodian		0.00%
[1]	Annualized for periods of less than one year.

Significant Accounting Polici_5

Significant Accounting Policies (Categorization Of The Trust's Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Bullion	$ 524,001	$ 491,706

Significant Accounting Polici_6

Significant Accounting Policies (Schedule Of Investment In Bullion) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)oz	Mar. 31, 2019USD ($)oz
Bullion [Line Items]
Opening balance (in Ounces) | oz	6,960,703.4	6,188,465.8
Creations (in Ounces) | oz	808,368.9	108,466.2
Redemptions (in Ounces) | oz	(323,243.6)	(325,251.9)
Transfers of Bullion to pay expenses (in Ounces) | oz	(10,545.6)	(9,176.3)
Closing balance (in Ounces) | oz	7,435,283.1	5,962,503.8
Opening balance	$ 491,706	$ 359,447
Creations	61,085	6,452
Redemptions	(20,749)	(19,439)
Realized gain / (loss) on Bullion distributed for the redemption of Shares	1,351	954
Transfers of Bullion to pay expenses	(773)	(543)
Realized gain / (loss) on Bullion transferred to pay expenses	150	21
Change in unrealized gain / (loss) on investment in Bullion	(8,769)	4,644
Closing balance	$ 524,001	$ 351,536
Gold [Member]
Bullion [Line Items]
Opening balance (in Ounces) | oz	183,176.5	162,854.5
Creations (in Ounces) | oz	21,272.9	2,854.4
Redemptions (in Ounces) | oz	(8,506.4)	(8,559.3)
Transfers of Bullion to pay expenses (in Ounces) | oz	(277.5)	(241.5)
Closing balance (in Ounces) | oz	195,665.5	156,908.1
Opening balance	$ 277,466	$ 208,722
Creations	34,157	3,714
Redemptions	(12,944)	(11,152)
Realized gain / (loss) on Bullion distributed for the redemption of Shares	1,871	595
Transfers of Bullion to pay expenses	(434)	(313)
Realized gain / (loss) on Bullion transferred to pay expenses	78	15
Change in unrealized gain / (loss) on investment in Bullion	14,622	1,677
Closing balance	$ 314,816	$ 203,258
Silver [Member]
Bullion [Line Items]
Opening balance (in Ounces) | oz	6,716,468.5	5,971,327
Creations (in Ounces) | oz	780,005	104,660.3
Redemptions (in Ounces) | oz	(311,901.7)	(313,839.5)
Transfers of Bullion to pay expenses (in Ounces) | oz	(10,175.6)	(8,854.3)
Closing balance (in Ounces) | oz	7,174,396.2	5,753,293.5
Opening balance	$ 121,199	$ 92,347
Creations	13,848	1,638
Redemptions	(4,157)	(4,842)
Realized gain / (loss) on Bullion distributed for the redemption of Shares	(1,212)	(545)
Transfers of Bullion to pay expenses	(172)	(138)
Realized gain / (loss) on Bullion transferred to pay expenses	(3)	(14)
Change in unrealized gain / (loss) on investment in Bullion	(29,564)	(1,571)
Closing balance	$ 99,939	$ 86,875
Platinum [Member]
Bullion [Line Items]
Opening balance (in Ounces) | oz	24,423.3	21,713.7
Creations (in Ounces) | oz	2,836.4	380.6
Redemptions (in Ounces) | oz	(1,134.2)	(1,141.2)
Transfers of Bullion to pay expenses (in Ounces) | oz	(37)	(32.2)
Closing balance (in Ounces) | oz	26,088.5	20,920.9
Opening balance	$ 23,251	$ 17,241
Creations	2,637	309
Redemptions	(786)	(925)
Realized gain / (loss) on Bullion distributed for the redemption of Shares	(366)	(273)
Transfers of Bullion to pay expenses	(32)	(26)
Realized gain / (loss) on Bullion transferred to pay expenses	(6)	(8)
Change in unrealized gain / (loss) on investment in Bullion	(5,732)	1,465
Closing balance	$ 18,966	$ 17,783
Palladium [Member]
Bullion [Line Items]
Opening balance (in Ounces) | oz	36,635	32,570.6
Creations (in Ounces) | oz	4,254.6	570.9
Redemptions (in Ounces) | oz	(1,701.3)	(1,711.9)
Transfers of Bullion to pay expenses (in Ounces) | oz	(55.5)	(48.3)
Closing balance (in Ounces) | oz	39,132.8	31,381.3
Opening balance	$ 69,790	$ 41,137
Creations	10,443	791
Redemptions	(2,862)	(2,520)
Realized gain / (loss) on Bullion distributed for the redemption of Shares	1,058	1,177
Transfers of Bullion to pay expenses	(135)	(66)
Realized gain / (loss) on Bullion transferred to pay expenses	81	28
Change in unrealized gain / (loss) on investment in Bullion	11,905	3,073
Closing balance	$ 90,280	$ 43,620