Home›Dealers›Royal Canadian Mint›History›May 8, 2008

ROYAL CANADIAN MINT GOLD PRICE — MAY 8, 2008

🏪 Royal Canadian Mint — 1 oz Gold Bar Price (CAD)

C$1,005.13
Premium: C$110.00 (12.29%)

On May 8, 2008, a 1 oz Gold Bar from Royal Canadian Mint was priced at C$1,005.13 per troy ounce in Canadian Dollars. This included the CAD spot price of C$895.13 plus a dealer premium of C$110.00 (12.29%). The gold spot price rose by +18.05 (+2.06%) compared to the previous trading day.

PRICE BREAKDOWN — MAY 8, 2008

ComponentPrice (CAD)
Gold Spot Price (XAU/CAD)C$895.13
Royal Canadian Mint Premium+C$110.00
Royal Canadian Mint 1 oz Bar PriceC$1,005.13

SPOT PRICE OHLC — MAY 8, 2008

MetricPrice (CAD)
OpenC$885.37
HighC$897.87
LowC$881.41
CloseC$895.13
Change▲ +18.05 (+2.06%)

COMPARE DEALERS ON MAY 8, 2008

Dealer1 oz Bar (CAD)Premium
KitcoC$960.13C$65.00
Sprott MoneyC$973.13C$78.00
SilverGoldBullC$950.13C$55.00
TD Precious MetalsC$990.13C$95.00
Royal Canadian Mint ✓C$1,005.13C$110.00
Border GoldC$965.13C$70.00
← May 7, 2008 📅 All Dates May 9, 2008 →

ABOUT ROYAL CANADIAN MINT

The Royal Canadian Mint is the Crown corporation producing Canada's iconic Gold Maple Leaf coins at 99.99% purity. Visit the Royal Canadian Mint dealer page for current live prices. See the gold spot price on May 8, 2008 for the full market overview.

📊 Market Analysis — May 8, 2008

For Canadian investors, understanding the relationship between the USD/CAD exchange rate and gold pricing is essential. A weakening Canadian Dollar amplifies gold returns in CAD terms, while a strengthening CAD can dampen returns even when USD-denominated gold rises. Gold has historically outperformed during periods of negative real interest rates — when inflation exceeds the Bank of Canada's overnight rate. Canadian investors use gold as a hedge against purchasing power erosion, particularly when CPI exceeds 3%. The correlation between gold and the inverse of real rates makes it a strategic allocation in balanced portfolios.

❓ Frequently Asked Questions

❓ What payment methods are accepted?

Canadian gold dealers accept bank wire transfers (lowest premiums), e-Transfer/Interac, credit cards (2–3% higher premiums), and in some cases PayPal or cryptocurrency. Bank wire is recommended for orders over C$5,000.

❓ How do I verify gold authenticity?

Reputable Canadian dealers like Kitco and Sprott Money sell only assayed products from LBMA-approved refiners. The Royal Canadian Mint includes anti-counterfeiting features on Maple Leaf coins including micro-engraved laser marks and radial lines visible under magnification.

❓ Can I sell gold back to dealers?

Yes, most Canadian dealers offer buyback programs. Kitco, Sprott Money, and SilverGoldBull all purchase gold from customers at competitive bid prices, typically 1–3% below spot price depending on product type and market conditions.

💡 Canadian Gold Investor Guide

Physical vs Paper Gold: Physical bullion (bars, coins) provides tangible ownership with no counterparty risk, ideal for long-term holdings. ETFs (CGL.TO, MNT.TO) offer convenience for trading and rebalancing. A combination of both can optimize for both security and flexibility.

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$1,005.13
Per GramC$32.32
Per KilogramC$32,315.63
Per Pennyweight (1.555g)C$50.26
Per Tola (11.66g)C$376.92

📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides