You may need to adjust your cost basis when you sell it because the price of one GLD ETF may be different each month. If this is the case, I would use a spreadsheet to track the cost basis each month and number of shares and when you do sell, you will have an accurate amount to report for a cost basis for all of your shares you have purchased up to a given point in time.
Keep in mind, you are tracking the total cost for all the shares you purchased and this is what will be reported on Schedule D and 8949 once you sell your shares. Also keep in mind, if you sell partial shares, you will use the FIFO method in reporting the shares meaning you will use the cost basis/shares when you first started purchasing your shares of gold.
Meanwhile, don't record any data in the sales section in your return unless you actually sell some of these shares.
@sujiths80
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