Statements of Assets and Liabilities (USD $)

Sep. 30, 2014

Dec. 31, 2013

ASSETS

Investment in gold (cost: September 30, 2014: $53,306; December 31, 2013: $53,463)

$ 53,971,000

^[1],[2]

$ 53,463,000

^[1],[3]

Total assets

53,971,000

^[2]

53,463,000

^[3]

LIABILITIES

Fees payable to Sponsor

17,332

17,740

Total liabilities

17,000

^[2]

18,000

^[3]

NET ASSETS

53,954,000

^[2]

53,445,000

^[3]

ANALYSIS OF NET ASSETS

Total net assets

$ 53,954,000

^[2],[4]

$ 53,445,000

^[2],[3],[4]

[1]	At September 30, 2014, the investment in gold is recorded at the fair value. At December 31, 2013, the investment in gold was recorded at the lower of cost or market value. Refer to note 2.2 for a breakdown of cost and fair value of the investment in gold.
[2]	Effective January 1, 2014, the Trust has adopted the provisions of Topic 946, Investment Companies, and follows specialized accounting. Refer to Note 2.1 for additional information.
[3]	Derived from audited Statement of Financial Condition as of December 31, 2013. The amounts are those previously reported under non investment company accounting. Refer to Note 2.1 for additional information.
[4]	Net assets at December 31, 2013 represents total liabilities, redeemable Shares and Shareholders’ deficit. Authorized share capital is unlimited with no par value per Share. Shares issued and outstanding at September 30, 2014 and December 31, 2013 were 450,000. Net asset value per Share at September 30, 2014 and December 31, 2013 was $119.90 and $118.77, respectively.

- Definition

Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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ETFS Asian Gold Trust 10-Q