Track Precious Metals

Create an Investment account by selecting Account --> New Account.
Name the account "Precious Metal".

Set the initial balance on the account to the initial purchase price of the metal.

The example below is to create a security that represent 1oz of silver.

Selecting Tools--> Securities. Select the + button at bottom left

• Set the security name to "Silver".
• Set the ticker symbol to "SLV".
• Set the value suffix to "oz".

Click OK, then select the Precious Metal investment account.

You will be asked if you want to add a security to this account. Select Yes.

Select the security you just created.

• Set the type" to "Other"
• Set the subtype" to "Silver"

New Subtypes can be created by selecting "Edit", to the right of the Subtype field

Click OK, then select the 'Register' section of the investment account.

Select "New transaction"

Enter a Buy transaction for the number of ounces of silver you own, at the price you paid for them.

The example below explains how to then create another security that represents gold.

In this example, the gold price will be updated automatically.
The best ticker symbol for this is GLD. 1 share in GLD is equivalent to 1/10oz of gold.

As before, Selecting Tools--> Securities. Select the + button at bottom left.

• Set the security name to "Gold".
• Set the ticker symbol to "GLD".
• Set the value suffix to "1/10 oz".

Click OK, then select the 'Security Detail' section of the investment account.

Select "Add Security" and select the Gold security you just created.

• Set the type" to "Other"
• Set the subtype" to "Gold"

Click OK, then select the 'Register' section of the investment account.

Select "New transaction"

Enter a Buy transaction for the number of 1/10 ounces of gold you own, at the price you paid for them.

Install the Quotes and Exchange Rate extension if you haven't already. This is available via Extensions --> Manage Extensions. You may wish to refer to the 'Extensions' section for more information.

Once installed, select Extensions --> Quotes and Exchange Rates.

Change the update frequency to "Yearly". This will download the last year of prices.
Select "Update Now."
Once updated, change the update frequency to back to "Daily".