Tracking commodities

Quicken lets you track commodity holdings such as gold, silver, and oil in your investment accounts alongside your other securities. You record purchases and sales the same way you record standard security transactions, with one key difference: commodities require a specific search format to find them, because Quicken uses a separate data source for commodity prices.

Before you start

You need an investment account set up before you can track commodities. If you don't have one, see Setting up investment accounts.

Commodity tracking requires detailed investment account tracking. Simple investment tracking accounts do not support this feature.

Add a commodity to Quicken

Before you can record any transactions, the commodity must exist in your Quicken securities list. You can add it in two ways.

Option 1: Add from the Security field while entering a transaction

You can search for and add a commodity directly from the Security field while entering a transaction.

1. In the Security field, type a caret (^) followed by the name or symbol of the commodity. For example, type ^XAU to search for gold.

2. Quicken searches the commodity data source and returns matching results. Select the commodity you want from the list.

3. If the commodity does not already exist in your securities list, Quicken adds it automatically.

Option 2: Add from the Securities list

You can also add a commodity directly through the Securities list before entering any transactions.

1. Choose Window > Securities.

2. Click + at the bottom left of the window.

3. In Type, select Commodity.

4. Click in the Symbol field and type the symbol preceded by a caret, for example ^XAU. A dropdown appears showing matching commodities with their full names and symbols.

5. Select the commodity you want from the list. Quicken fills in the Security Name and Symbol automatically.

6. Click Save.

Quicken automatically sets the Asset Class to Commodity when you select that type.

For more information about the Securities list, see Creating securities.

Record a purchase

Once the commodity exists in your securities list, record a purchase as a Buy transaction. When you select this transaction type, your cash balance is decreased by the total amount entered.

Tip: When recording a Buy transaction, enter the total price, the number of units, and any commission, and Quicken will calculate the price per unit automatically. This is typically the most accurate approach. If you prefer to enter the price per unit instead, click the pencil icon in the transaction form to switch methods.

1. In the sidebar, select the investment account you want to use.

2. Click the Transactions tab and then click the New Transaction icon in the register toolbar.

3. Select Buy from the transaction types list.

4. Fill in the following fields:

   • Date: Enter the date of the purchase.

   • Security: Select the commodity. Use the caret search (^) if you need to find it by name or symbol.

   • Total Cost: Enter the total amount paid, including any fees.

   • Number of Shares: Enter the quantity purchased. For commodities, this represents the unit quantity, such as troy ounces for precious metals, not a share count in the traditional sense.

   • Commission: Enter any trading fee or commission, if applicable.

   • Memo: Enter any note you want to associate with the transaction.

   • Tags: Enter any tags you want to use when searching for the transaction.

5. To attach a file such as a trade confirmation or receipt, go to the Attachments tab, click Add attachment, and select the file.

6. Click Save.

Record a sale

Record a commodity sale as a Sell transaction. When you select this transaction type, your cash balance is increased by the total proceeds entered.

1. In the sidebar, select the investment account you want to use.

2. Click the Transactions tab and then click the New Transaction icon in the register toolbar.

3. Select Sell from the transaction types list.

4. Fill in the following fields:

   • Date: Enter the date of the sale.

   • Security: Select the commodity you sold.

   • Total Proceeds: Enter the total amount received from the sale, after any fees.

   • Number of Shares: Enter the quantity sold.

   • Commission: Enter any trading fee or commission, if applicable.

   • Memo: Enter any note you want to associate with the transaction.

   • Tags: Enter any tags you want to use when searching for the transaction.

5. To attach a file, go to the Attachments tab, click Add attachment, and select the file.

6. Click Save.

View your commodity holdings

After recording a transaction, your commodity appears in the portfolio alongside your other holdings. Quicken retrieves price history and current quotes automatically, so your portfolio value updates as prices change.

To view more detail about a specific holding, select it in the portfolio and click Security Detail. The Security Detail view shows your current holdings, cost basis, gain or loss, price history, and transaction history for that commodity.

Things to know

These notes cover behavior that is specific to commodities and may differ from how standard securities work in Quicken.

• The caret (^) prefix is required when searching inline for a commodity. This tells Quicken to search the commodity data source rather than the standard securities database. Without the caret, Quicken will not return commodity results in the inline search. Symbols follow the format ^SYMBOLCURRENCY, for example ^XAUUSD for gold priced in US dollars.

• Some symbols may overlap with other security types. The caret ensures Quicken looks in the right place.

• Commodities do not pay dividends. If you receive income related to a commodity position, record it as a separate transaction using the appropriate income transaction type.

• Commodity prices can be volatile. The market value shown in your portfolio reflects the latest price available in Quicken and may not match real-time exchange prices exactly.

• For tax purposes, each sale of a commodity may be a taxable event. Quicken tracks your cost basis and gain or loss per transaction, which you can review in investment reports. Consult a tax professional for advice specific to your situation.

• If a commodity does not appear in your portfolio after you record a transaction, check that your investment account is set to detailed tracking. Simple investment tracking accounts do not support commodities.