How To Keep Gold Stock In Excel
Let's look at how to keep gold stock in Excel. Gold stocks have attracted the attention of many investors. With the growing national debt, high unemployment and massive printing of money by the Federal Reserve, many people seek ways to protect their investments from inflation. Because of this high interest in gold, prices rise daily and sometimes fall, so it makes great sense to keep your gold stock in Excel for tracking and profit calculating. Let's see how we can leverage Microsoft Excel to keep track of your gold stock..
- Stock to track. Collect the different firms you want to track. Start with the ticker sign, for example 'GLD' for SPDR Gold Trust (ETF)' and place that information in Excel. Don't worry about formatting, we'll get to that later.
Organizing stock in Excel. Look at the lower left hand side of the Excel sheet. Right click on the generic 'Sheet 1' and rename it to your gold stock, for example rename 'sheet 1' to 'GLD' and call 'sheet 2' 'AUY' and so on. If you need to create additional Excel sheets, right click in the icon of a sheet with an orange start, which appears next to the sheets you just renamed, and create as many Excel sheets as you need.
Prepare to track your gold. Go to the Excel sheet for your first stock, for example 'GLD' and click on it. This is where we keep gold stock information in Excel in a way that helps you track profits. In cell 1A, which is at the upper right hand side type 'Date' and in cell 1B type 'Price'. This is basic information and you can add more data points, for example in cell 1C enter 'Vol / Avg' and in cell 1D enter 'Mkt cap'. Repeat this for every gold stock you want to track in Excel.
- Find good data source. Every day collect data from your stock tracking tool. I you need a good free tool, try Google Money, which provides good tracking data. Open the Money tool and enter the ticker sign for your gold stock, for example GLD and decide if it has sufficient data for your needs.
- Populate Excel. At the end of each trading day, open your trading tool and enter your stock. Populate cell 1A with the date. Then Copy each data point to the cell with the proper title, for example enter the closing price in cell 1B and enter data until all cells are populated.
Collect data. When you start to keep gold stock in Excel, you get a short term view of your gold stock. Keep populating data every day and you'll see trends in gold stock. When you have a week worth of data, use Excel to show you different views of your gold stock.
- Analyze your gold stock. Select a stock to analyze. Enter that sheet. Go to the 'Price' column and click on the header. In our example, that will be the bar above cell 1B. See how the row is now highlighted. Look at the lower right hand side to see the average price. Different versions of Excel will work a bit differently, but reading the help file will show you how to perform analysis on the data. Excel is a powerful tool and wise investors keep gold stock in Excel and leverage its formulas to learn important lessons about their different investments.