Because you have asked about cost basis for SLV and GLD, it is appropriate to reference publicly available documents filed by those entities that discuss cost basis and taxation for Shareholders. Regarding SLV, the 2021 Annual Report provides the following with regard to initial cost basis:
"In the case of a Shareholder that purchases Shares for cash, its initial tax basis in it pro rata share of the assets held in the Trust at the time in acquires its Shares will be equal to its cost of acquiring the Shares."
The 2021 SLV Annual Report also provides the following with regard to its sales of silver and how such sales may affect a Shareholders tax basis:
"When the Trust sells silver, for example to pay expenses, a Shareholder will recognize gain or loss in an amount equal to the difference between (1) the Shareholder's pro rata share of the amount realized by the Trust upon the sale and (2) the Shareholder's tax basis for its pro rata share of the silver that was sold."
Below is a link to the 2021 Annual Report for SLV. The above quoted material can be found at page 10. There is much more tax related information on page 10 and 11 which you might find helpful. The link will take you to the iShares page, and the link to the 2021 SLV Annual Report is on that page.
Regarding the GLD that you currently own, the Trust issued a 2021 Reporting Statement to shareholders of record. Pages 11 and 12 of that Reporting Statement provide a Step-by-Step analysis of a hypothetical shareholder who purchased GLD during 2021 and held the shares for the remainder of the year. The analysis explains how to calculate the shareholder's adjusted gold held and cost basis.
Here is a link to the GLD 2021 Reporting Statement.
2021 GLD Reporting Statement
iShares
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