Gold and Silver as currencies vs securities

harold's Avatar

harold

24 Jan, 2021 03:15 PM

Hello,
The KB mentions that precious metals could be setup as a currency. Technically gold is money, so I have followed the instructions by adding gold as a currency with oz in the Value Suffix field, no currency ID and 2 decimals. Then I imported the historical gold prices from investing.com for XAU/CAD, the price of gold in CAD, changed the date format to YMD and successfully imported the CSV file. However, when I check the prices in the history, the rate is set to 2 and the quotes are either 2.00 or 1.00. What am I doing wrong?

I have set up gold as security successfully with imported historical quotes but have found no way of downloading current prices through the Quote Loader. What are the pros and cons of setting gold up as a currency vs a security in Moneydance? Thanks

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