| Significant Accounting Policies (Policies) | 12 Months Ended |
| Sep. 30, 2020 |
| Basis of Accounting | 2.1 Basis of Accounting The Funds are investment companies within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and |
| Basis of Presentation | 2.2 Basis of Presentation The financial statements are presented for the Trust, as the SEC registrant, combined with the Funds. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to each Series shall be enforceable only against the assets of that Series and not against the Trust generally or any other Series that the Trust may establish in the future. |
| Cash and Cash Equivalents | 2.3 Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. |
| Solactive GLD Long USD Gold Index-Gold Delivery Agreement | 2.4 Solactive GLD Long USD Gold Index—Gold Delivery Agreement The Gold Delivery Agreement terminated with the liquidation of GLDW as of September 12, 2019. Pursuant to the terms of the Gold Delivery Agreement prior to termination, GLDW entered into a transaction to deliver gold bullion to, or receive gold bullion from, Merrill Lynch International, as Gold Delivery Provider, each Business Day. The amount of gold bullion transferred essentially was equivalent to GLDW’s profit or loss as if it had exchanged the Reference Currencies comprising the Index (“FX Basket”), in the proportion in which they were reflected in the Index, for USDs in an amount equal to its holdings of gold bullion on such day. In general, if there was a currency gain (i.e., the value of the USD against the Reference Currencies comprising the FX Basket increases), GLDW would receive gold bullion. In general, if there was a currency loss (i.e., the value of the USD against the Reference Currencies comprising the FX Basket decreases), it would deliver gold bullion. In this manner, the amount of gold bullion held would be adjusted to reflect the daily change in the value of the Reference Currencies comprising the FX Basket against the USD. The Gold Delivery Agreement required gold bullion ounces, calculated pursuant to formulas contained in the Gold Delivery Agreement, to be delivered to the custody account of GLDW or the Gold Delivery Provider, as applicable. The fee that GLDW paid the Gold Delivery Provider for its services under the Gold Delivery Agreement was accrued daily and reflected in the calculation of the amount of gold bullion delivered pursuant to the Gold Delivery Agreement. The Index was designed to represent the daily performance of a long position in physical gold, as represented by the LBMA Gold Price AM, and a short position in the basket of Reference Currencies with weightings determined by the FX Basket. The Reference Currencies and their respective weightings in the Index were as follows: Euro (EUR/USD) (57.6%), Japanese Yen (USD/ JPY) (13.6%), British Pound Sterling (GBP/USD) (11.9%), Canadian Dollar (USD/CAD) (9.1%), Swedish Krona (USD/SEK) (4.2%), and Swiss Franc (USD/CHF) (3.6%). |
| Fair Value Measurement | 2.5 Fair Value Measurement U.S. GAAP defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds’ policy is to value their investments at fair value. Various inputs are used in determining the fair value of the Funds’ assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and
Level 3 – Inputs that are unobservable for the asset and liability, including the Funds’ assumptions (if any) used in determining the fair value of investments. The following table summarizes the Funds’ investments at fair value:
(Amounts in 000’s of US$) September 30, 2020 Level 1 Level 2 Level 3
Investment in Gold $ 3,542,996 $ — $ —
Total $ 3,542,996 $ — $ —
(Amounts in 000’s of US$) September 30, 2019 Level 1 Level 2 Level 3
Investment in Gold $ 1,036,032 $ — $ —
Gold Delivery Agreement — — —
Total $ 1,036,032 $ — $ —
There were no transfers between Level 1 and other Levels for the years ended September 30, 2020 and 2019. The Administrator values the gold held by the Funds on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the net asset value (“NAV”) of the Funds on each day the NYSE Arca is open for regular trading. If no gold price is made on a particular evaluation day, the next most recent gold price is used in the determination of the NAV of the Funds, unless the Administrator, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for such determination. |
| Custody of Gold | 2.6 Custody of Gold Gold bullion was held by HSBC Bank plc on behalf of GLDW and is held by ICBC Standard Bank Plc on behalf of GLDM, each individually referred to as the “Custodian.” |
| Gold Receivable/Payable | 2.7 Gold Receivable/Payable Gold receivable/payable represents the quantity of gold covered by contractually binding orders for the creation/redemption of Shares where the gold has not yet been transferred into/out of the Series’ account. Generally, ownership of the gold is transferred within two business days
(Amounts in 000’s of US$) Sep-30, Sep-30,
Gold receivable $ 18,793 $ 14,819
(Amounts in 000’s of US$) Sep-30, Sep-30,
Gold payable $ — $ — |
| Gold Delivery Agreement Receivable | 2.8 Gold Delivery Agreement Receivable Gold Delivery Agreement receivable represented the quantity of gold due to be received under the Gold Delivery Agreement. The gold was transferred to GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. There was no Gold Delivery Agreement receivable for the years ended September 30, 2020 and 2019 as a result of GLDW’s liquidation. |
| Gold Delivery Agreement Payable | 2.9 Gold Delivery Agreement Payable Gold Delivery Agreement payable represented the quantity of gold due to be delivered under the Gold Delivery Agreement. The gold was transferred from GLDW’s allocated gold bullion account at the Custodian two business days after the valuation date. There was no Gold Delivery Agreement payable for the years ended September 30, 2020 and 2019 as a result of GLDW’s liquidation. |
| Creations and Redemptions of Shares | 2.10 Creations and Redemptions of Shares The Funds create and redeem Shares from time to time, but only in one or more Creation Units (a Creation Unit equaled a block of 1,000 GLDW Shares (as reduced from 10,000 GLDW Shares on December 14, 2018) or equals a block of 100,000 GLDM Shares). The Funds issue Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the delivery to the Funds or the distribution by the Funds of the amount of gold and any cash represented by the Creation Units being created or redeemed, the amount of which will be based on the net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. As the Shares of the Funds are redeemable in Creation Units at the option of the Authorized Participants, the Funds have classified the Shares as Net Assets for financial reporting purposes. Changes in the Shares for the years ended September 30, 2020 and 2019 were:
(Amounts in 000’s) Year Ended Sep-30, 2020 Year Ended Sep-30, 2019
Activity in Number of Shares Created and Redeemed:
Creations 136,000 55,525
Redemptions (17,400 ) (3,937 )
Distributions — (218 )
Net change in Number of Shares Created and Redeemed 118,600 51,370
(Amounts in 000’s of US$) Year Ended Sep-30, Year Ended Sep-30,
Activity in Value of Shares Created and Redeemed:
Creations $ 2,352,554 $ 750,278
Redemptions (285,146 ) (60,418 )
Distributions — (33,452 )
Net change in Value of Shares Created and Redeemed $ 2,067,408 $ 656,408 |
| Income and Expense | 2.11 Income and Expense (Amounts in 000’s of US$) The Administrator will, at the direction of the Sponsor, sell the Funds’ gold as necessary to pay the Funds’ expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize the Funds’ holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian following the sell order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay Sponsor fees on the Combined Statements of Operations. The Funds’ net realized and change in unrealized gain on investment in gold for the year ended September 30, 2020 of $446,656 is made up of a realized gain of $455 from the sale of gold to pay Sponsor fees, a realized gain of $37,008 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $409,193 on investment in gold. The Funds’ net realized and change in unrealized gain on investment in gold and Gold Delivery Agreement for the year ended September 30, 2019 of $140,207 is made up of a realized gain of $77 from the sale of gold to pay Sponsor fees, a realized gain of $1,820 from the Gold Delivery Agreement, a realized gain of $440 from gold transferred to cover the Gold Delivery Agreement and Gold Delivery Provider fees, a realized gain of $6,093 from gold distributed for the redemption of Shares, a realized gain of $4,982 from sale of gold to pay distributions, and a change in unrealized appreciation of $126,795 on investment in gold. |
| Income Taxes | 2.12 Income Taxes The Funds are classified as “grantor trusts” for U.S. federal income tax purposes. As a result, the Funds are not subject to U.S. federal income tax. Instead, the Funds’ income and expenses “flow through” to the shareholders, and the Administrator will report the Funds’ proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of September 30, 2020 or 2019. As of September 30, 2020, the 2019, 2018 and 2017 tax years remain open for examination. There were no examinations in progress at period end. |
| New Accounting Pronouncements | 2.13 New Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update 2018-13, 2018-13”). 2018-13 |
| SPDR Gold Mini Shares Trust [Member] | |
| Basis of Accounting | 2.1 Basis of Accounting For accounting purposes, GLDM is an investment company within the scope of Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and therefore applies the specialized accounting and reporting guidance therein. It is not registered as an investment company under the Investment Company Act of 1940, as amended. |
| Basis of Presentation | 2.2 Basis of Presentation The financial statements are presented for GLDM individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GLDM shall be enforceable only against the assets of GLDM and not against the assets of the Trust generally or any other series that the Trust may establish. |
| Cash and Cash Equivalents | 2.3 Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments of sufficient credit quality with original maturity of three months or less. |
| Fair Value Measurement | 2.4 Fair Value Measurement U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. GLDM’s policy is to value its investments at fair value. Various inputs are used in determining the fair value of GLDM’s assets or liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and
Level 3 – Inputs that are unobservable for the asset and liability, including a fund’s assumptions (if any) used in determining the fair value of investments. The following table summarizes GLDM’s investment at fair value:
(Amounts in 000’s of US$) September 30, 2020 Level 1 Level 2 Level 3
Investment in Gold $ 3,542,966 $ — $ —
Total $ 3,542,966 $ — $ —
(Amounts in 000’s of US$) September 30, 2019 Level 1 Level 2 Level 3
Investment in Gold $ 1,036,032 $ — $ —
Total $ 1,036,032 $ — $ —
There were no transfers between Level 1 and other Levels for the years ended September 30, 2020 and 2019. The Administrator values the gold held by GLDM on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (“IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the LBMA Gold Price. In determining the NAV of GLDM, the Administrator values the gold held on the basis of the price of an ounce of gold determined by the IBA 3:00 PM auction process (“LBMA Gold Price PM”), which is an electronic auction. The auction runs twice daily at 10:30 AM and 3:00 PM London time. The Administrator calculates the NAV of GLDM on each day the NYSE Arca is open for regular trading, generally as of 12:00 PM New York time. If no LBMA Gold Price PM is made |
| Custody of Gold | 2.5 Custody of Gold Gold bullion is held by the Custodian on behalf of GLDM. During the years ended September 30, 2020 and 2019, no gold was held by a subcustodian. |
| Gold Receivable | 2.6 Gold Receivable Gold receivable represents the quantity of gold covered by contractually binding orders for the creation of Shares where the gold has not yet been transferred to GLDM’s account. Generally, ownership of the gold is transferred within two business days of the trade date.
(Amounts in 000’s of US$) Sep-30, Sep-30,
Gold receivable $ 18,793 $ 14,819 |
| Gold Payable | 2.7 Gold Payable Gold payable represents the quantity of gold covered by contractually binding orders for the redemption of Shares where the gold has not yet been transferred out of GLDM’s account. Generally, ownership of the gold is transferred within two business days
(Amounts in 000’s of US$) Sep-30, Sep-30,
Gold payable $ — $ — |
| Creations and Redemptions of Shares | 2.8 Creations and Redemptions of Shares GLDM creates and redeems Shares from time to time, but only in one or more Creation Units (a Creation Unit equals a block of 100,000 Shares). GLDM issues Shares in Creation Units to certain authorized participants (“Authorized Participants”) on an ongoing basis. The creation and redemption of Creation Units is only made in exchange for the amount of gold and any cash represented by the Creation Units being created or redeemed. This amount will be based on the combined net asset value of the number of Shares included in the Creation Units being created or redeemed determined on the day the order to create or redeem Creation Units is properly received. As the Shares are redeemable in Creation Units at the option of the Authorized Participants, GLDM has classified the Shares as Net Assets for financial reporting purposes. Changes in the Shares for the years ended September 30, 2020 and 2019 and the fiscal period ended September 30, 2018 were:
(Amounts are in 000’s) Year Ended Sep-30, 2020 Year Ended Sep-30, 2019 Fiscal Period Sep-30,
Activity in Number of Shares Created and Redeemed:
Creations 136,000 55,500 19,300
Redemptions (17,400 ) (3,900 ) (— )
Net change in Number of Shares Created and Redeemed 118,600 51,600 19,300
(Amounts in 000’s of US$) Year Ended Sep-30, 2020 Year Ended Sep-30, 2019 Fiscal Period Sep-30, 2018
Activity in Value of Shares Created and Redeemed:
Creations $ 2,352,554 $ 746,753 $ 235,291
Redemptions (285,146 ) (54,738 ) (— )
Net change in Value of Shares Created and Redeemed $ 2,067,408 $ 692,015 $ 235,291 |
| Income and Expense | 2.9 Income and Expense (Amounts in 000’s of US$) The Administrator will, at the direction of the Sponsor, sell GLDM’s gold as necessary to pay its expenses. When selling gold to pay expenses, the Administrator will endeavor to sell the smallest amount of gold needed to pay expenses in order to minimize GLDM’s holdings of assets other than gold. Unless otherwise directed by the Sponsor, to meet expenses the Administrator will give a sell order and sell gold to the Custodian at the LBMA Gold Price PM following the sell order. A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay Sponsor fees on the Statement of Operations. GLDM’s net realized and change in unrealized gain on investment in gold for the year ended September 30, 2020 of $446,656 is made up of a realized gain of $455 from the sale of gold to pay Sponsor fees, a realized gain of $37,008 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $409,193 on investment in gold. GLDM’s net realized and change in unrealized gain on investment in gold for the year ended September 30, 2019 of $130,766 is made up of a realized gain of $69 from the sale of gold to pay Sponsor fees, a realized gain of $5,240 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $125,457 on investment in gold. |
| Income Taxes | 2.10 Income Taxes GLDM is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, it is not subject to U.S. federal income tax. Instead, its income and expenses “flow through” to the shareholders, and the Administrator will report GLDM’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of September 30, 2020. As of September 30, 2020, the 2019 and 2018 tax years remain open for examination. There were no |
| New Accounting Pronouncements | 2.11 New Accounting Pronouncements In August 2018, the FASB issued Accounting Standards Update 2018-13, 2018-13”). 2018-13 |
