Compare what you paid for gold with what you can actually sell it for. Include purchase and selling costs so the result reflects the real cash outcome rather than simply comparing headline prices.
Gold can appreciate while the investor still realizes little or no profit because of acquisition premiums and dealer buyback discounts. The relevant question is not simply “what is gold worth?” but “what will I actually receive after selling?”
For accurate performance analysis, include the costs actually paid to acquire the product. Otherwise the return can look better than the cash economics really are.
Net sale proceeds minus total acquisition cost.
Yes, when measuring actual investment return.
Yes, when that is the intended exit.
Yes.