Bullish Points:
1. Net Assets increased significantly from $20,854,265,000 on September 30, 2025, to $25,287,518,000 on December 31, 2025, primarily due to creations of shares and an increase in the fair value of gold.
2. Investments in Gold at fair value increased from $20,855,894,000 on September 30, 2025, to $25,289,657,000 on December 31, 2025.
3. Net realized and change in unrealized gain on investment in gold for the three months ended December 31, 2025, was $2,691,269,000, compared to a loss of $68,661,000 for the same period in 2024.
4. Net increase in net assets resulting from operations for the three months ended December 31, 2025, was $2,685,290,000, compared to a decrease of $71,001,000 for the same period in 2024.
5. The price of gold increased significantly, with the LBMA Gold Price PM reaching $4,307.95 on December 31, 2025, compared to $2,610.85 on December 31, 2024.
Bearish Points:
1. Sponsor fees for the three months ended December 31, 2025, were $5,979,000, compared to $2,340,000 for the same period in 2024, indicating a significant increase in expenses.
The final result you summarize based on positive and negative content needs to be objective, neutral, and dialectical.
For more information, you can read the original text of Spdr Gold Minishares Trust(GLDM)'s financial report
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