> On Apr 8, 2020, at 7:31 AM, Eric Coates via gnucash-user
> <[email protected]> wrote:
>
> Good Afternoon
>
> On 08/04/2020 10:08, Frank H. Ellenberger wrote:
>
>> The quotes are not from ISO-4217:XAU (troy ounce Gold), but from
>> NASDAQ:XAU an share index of gold and silver producers.
>
> So, is there a relationship between this NASDAQ:XAU figure and (what might be
> termed) the real price of gold (ie the mid-value retail price of a gram of
> gold, using grams to avoid the confusion between troy ounces and the other
> ounce)?
>
> Just out of interest really
>
It's https://en.wikipedia.org/wiki/Philadelphia_Gold_and_Silver_Index. It has a
relationship to the spot price of gold but probably not close enough to be of
much use.
To get the current USD spot price of Gold in the Zurich Forex markets look for
the XAU:USD exchange rate; that's what GnuCash will do if you have an account
denominated in the XAU currency and your book currency is USD. The gold amount
is Troy ounces, about 40 grams. (The "other ounce" is avoirdupois, about 28
grams each.)
Regards,
John Ralls
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