VanEck Gold ETF surges 72% to $46.56/share as gold hits $4,319/oz; NAV doubles to $2.9B

Filed March 27, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 28, 2025 · ~2 min read

Key Changes

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  Share value jumped 72% from $27.01 to $46.56 during fiscal 2026, driven by gold's 65% surge to $4,319/oz—nearly double the prior year's 37% gain. NAV more than doubled to $2.9B as both price and investor demand accelerated.

  Business: Share Value & MD&A: NAV Growth verify on EDGAR →
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  ETF investment demand reversed from net outflows (-0.1% of total gold demand in 2024) to strong inflows (16.2% in 2025), with the Trust's outstanding shares growing 28% to 62.4 million as investors piled into gold exposure.

  Business: ETF Investment Demand verify on EDGAR →
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  New risk disclosure warns that international trade policy changes—including tariffs and trade barriers—could disrupt gold supply chains, production costs, and currency markets, potentially affecting Share value through increased volatility.

  Risk Factors: Trade Policy verify on EDGAR →