Gold as Commodity?

[John Ralls]

> On Jan 23, 2017, at 3:13 PM, Tuomo Hartikainen <tth at harski.org> wrote:
> 
> On 2017-01-23 08:38, Lane Lester wrote:
>> I recently opened an account with goldmoney.com. The money I paid was used
>> to purchase a certain weight of physical gold, which is held in one of
>> their vaults.
>> 
>> Is there a way I can create an account in GnuCash in which the register
>> amounts vary with the price of gold?
>> 
>> Lane
> 
> How about treting it as a currency? Would that work for you? You can
> then update the quotes for it as you wish.
Might work for the OP, won't work for GnuCash. Only ISO-4217 currencies can be currencies in GnuCash, everything else is a commodity. Sorry, BitCoin and competitors.

But Gold will work fine as a commodity. Best to read the discussion from a week or two back about how gold prices aren't, really; they're gold *futures* prices, which isn't at all  equivalent.

Regards,
John Ralls