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SILVERGOLDBULL GOLD PRICE — OCTOBER 16, 2002

🏪 SilverGoldBull — 1 oz Gold Bar Price (CAD)

C$478.90
Premium: C$55.00 (12.97%)

On October 16, 2002, a 1 oz Gold Bar from SilverGoldBull was priced at C$478.90 per troy ounce in Canadian Dollars. This included the CAD spot price of C$423.90 plus a dealer premium of C$55.00 (12.97%). The gold spot price rose by +1.89 (+0.45%) compared to the previous trading day.

PRICE BREAKDOWN — OCTOBER 16, 2002

ComponentPrice (CAD)
Gold Spot Price (XAU/CAD)C$423.90
SilverGoldBull Premium+C$55.00
SilverGoldBull 1 oz Bar PriceC$478.90

SPOT PRICE OHLC — OCTOBER 16, 2002

MetricPrice (CAD)
OpenC$424.58
HighC$424.58
LowC$423.90
CloseC$423.90
Change▲ +1.89 (+0.45%)

COMPARE DEALERS ON OCTOBER 16, 2002

Dealer1 oz Bar (CAD)Premium
KitcoC$488.90C$65.00
Sprott MoneyC$501.90C$78.00
SilverGoldBull ✓C$478.90C$55.00
TD Precious MetalsC$518.90C$95.00
Royal Canadian MintC$533.90C$110.00
Border GoldC$493.90C$70.00
← October 15, 2002 📅 All Dates October 17, 2002 →

ABOUT SILVERGOLDBULL

SilverGoldBull is one of Canada's fastest-growing precious metals dealers, based in Calgary, Alberta, known for low premiums. Visit the SilverGoldBull dealer page for current live prices. See the gold spot price on October 16, 2002 for the full market overview.

📊 Market Analysis — October 16, 2002

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. Gold mining stocks on the TSX (Toronto Stock Exchange) — including Barrick Gold, Agnico Eagle, and Kinross Gold — offer leveraged exposure to gold prices. However, physical bullion provides direct price exposure without management risk, dilution, or operational challenges. Many Canadian financial advisors recommend a mix of both.

❓ Frequently Asked Questions

❓ Is shipping gold safe in Canada?

Major dealers ship via insured courier (Canada Post Xpresspost, Purolator) with full insurance coverage. All packages are discreetly labelled with no indication of contents. Free shipping thresholds typically range from C$200–C$500 depending on the dealer.

❓ 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.

💡 Canadian Gold Investor Guide

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$478.90
Per GramC$15.40
Per KilogramC$15,396.97
Per Pennyweight (1.555g)C$23.95
Per Tola (11.66g)C$179.59

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