How to track precious metals (gold and silver) in Moneydance
Create an Investment account by selecting Account->New Account.
Call the account "Precious Metal".
Set the initial balance on the account to the initial purchase price of the metal.
Create a security to represent 1oz of silver. Do this by selecting Tools->Edit Securities.
Set the security name to "Silver".
Set the ticker symbol to "SLV".
Set the value suffix to "oz".
Click on the investment account.
You will be asked if you want to add a security to this account. Click Yes.
Select the security you just created. Set the Type to other and create a new sub type called silver.
Click on the "Register" view.
Click New transaction and enter a buy transaction for the number of ounces of silver you own at the price you paid for them.
In the screenshot I purchased 300oz at 20USD/oz
Then create a new security to represent gold. In this example I want the gold price to be updated automatically and the best ticker symbol I have found for this is GLD. 1 share in GLD is equivalent to 1/10oz of gold.
Select Tools->Edit Securities.
Set the security name to "Gold".
Set the ticker symbol to "GLD".
Set the value suffix to "1/10 oz".
Go back to the investment account and click on the "Security detail" view.
Click "Add Security"
Select the "Gold" security.
Set the type to "other" subtype "Gold".
Go to the investment register.
Click New transaction and enter a buy transaction for the number of 1/10 ounces of gold you own at the price you paid for them.
In the screenshot I purchased 40 tenths of an oz at 100USD/ tenth of an oz. (4oz)
Add the Stock quotes extension by selecting Extensions->Add. Click next and select "Quotes and Exchange Rates Updater". Click Next. Click Finish.
Select Extension->Quotes and exchange rates.
Change the update frequency to "Yearly". This will download the last year of prices.Change
Click Update Now.
Change the update frequency to back to "Daily".
You can download an example data file from this link:
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