Tracking of Precious Metals

harold's Avatar

harold

14 Jan, 2021 05:14 PM

I have followed your instruction on how to track precious metals. The problem is that SLV and GLD are ETFs that are not closely tracking the spot prices of the metals and also they are priced in USD not CAD. I have found a suitable replacement for Canadians: https://ca.investing.com/currencies/xau-cad-historical-data
I have downloaded the historical data of both metals and imported them into MD. Do you know how to download the daily quotes? I tried the Yahoo and FT sites in the Quote Loader but it does not work.
I have added my PM holdings by importing the historical gold and silver quotes from investing.com. I have a positive cash balance in that account and I try to understand why. I am tracking the storage fees in metal ounces, because that is how they are calculated, so the metal holdings are being depleted monthly by the storage fees. I enter the equivalent CAD into the Fee field of the same transaction but somehow that does not deplete the cash balance. How do I record the storage fee both in terms of the metal ounces and their CAD equivalents?
Thanks

  1. 1 Posted by derekkent23 on 14 Jan, 2021 08:21 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Harold

    The Quote Loader third party extension seems to be what you are looking for.
    I did a quick search for ticker symbols for Gold and Silver and the Gold prices returned seemed to match the price in your link, see screen shot.

    For information on the features of this extension and how to use see post 106 at
    https://infinitekind.tenderapp.com/discussions/investments/4914-the...
    The PDF’s do not cover commodities but you set them up as if they were securities.
    Download the PDF attached to posts 106 and have a read.

    To get an overview take a look at the YouTube videos by using the links on page 1 and 2 of the PDF.

    Let us know how you get on or if you need help just post.

    Hope this helps.

  2. 2 Posted by harold on 15 Jan, 2021 05:19 AM

    harold's Avatar

    Hi Derek, yes I had read through the pdfs and watched the videos. The GLD is a gold ETF and GC=F is the ticker for gold futures. Both vary from the spot price too much for my purposes. XAU/USD or XAU/CAD are the forex pairs of 1 Oz gold priced in USD and CAD but Yahoo does not list them.
     Maybe the developer for the Quote Loader can scrape the investing.com site. It is the site has the most complete historical data in many currencies that I have found. I did not realize that MD converts USD quotes into CAD automatically. Thank you!

  3. 3 Posted by harold on 17 Jan, 2021 04:50 AM

    harold's Avatar

    Hi,
    How do I change the volume format used in the investing.com historical data, so that MD can read it? It is given in "M" (5.22M) and "K" (300K) rather than whole numbers? I found an Excel formula online that converts whole numbers to millions, but it seems I cannot reverse the calculation because it was rounded. I found that investing.com has all the historical data for securities that are not listed on the Yahoo website.
    Thank you!

  4. 4 Posted by harold on 26 Jan, 2021 03:42 AM

    harold's Avatar

    Here is an update to one of my initial questions: I have been able to reconcile my precious metals investment account by entering a sell transaction for each monthly storage fee that reduces the oz/shares of my metal holdings and in the same transaction record the equivalent CAD in the Fee Category field which reduces the cash balance.

    I read in a recent related thread that separating a Sell transaction from a MiscExp transaction may be better for reporting, would this be also true in my case?

  5. 5 Posted by crudofakel579 on 31 Jan, 2021 01:30 PM

    crudofakel579's Avatar

    I remember how that one person lost 172 thousand dollars, but it was due to the fact that he just started making money and wanted to make money on the stream, but lost. I am sure that none of you wants to lose as much as he did, and in order to avoid such mistakes, you need to study and do it for a sufficient amount of time, or you should just learn it. It is easiest to learn when professionals and people who have been doing this for a long time help you. These are the people who created the site https://forexkings.com , which helps beginners and inept in the topic of trading.

  6. 6 Posted by Stuart Beesley ... on 31 Jan, 2021 01:49 PM

    Stuart Beesley - JUST A FELLOW USER's Avatar

    @harold a sell with fee is the same as a sell with no fee and then a miscExp for the fee. I don't see how one is better that the other unless you need to be able to filter Txns certain ways... What are you thinking about it being better? I personally avoid miscxxx txns and prefer to have the fee attached to the sale/buy...

    (not support, just a fellow user)

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