Storage Fees Calculation

kboxkbox Posts: 22 Copper ✭✭
edited May 11 in About Goldmoney Products
@Goldmatters, hello hope your are doing well!

I am trying to understand storage fees. Essentially I want the formula for the amount of gold I need to buy per month to avoid storage fees. Ideally there would be a chart/visualisation in my holding page which says that I have to incur this amount of transaction fees to not pay a storage fee. But in the absence of such a feature I am trying to work this one out, but I can't.

On the first day of April, I was charged storage fees on my Australian Dollar balance for the two vaults that I hold gold at. In that month I then proceeded to purchase gold. So when do my storage fees get credited?

On the first day of May I didn't have any fiat currency, and it appears that 0.001gg are taken from each of vault holdings. But one holding has a lot more than the other, so I don't get why 0.001gg are taken from both.

Any insights into this would be helpful.

I am posting here so that knowledge about this can be shared. But if not appropriate I can always ask my RM.

Answers

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