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GOLD PRICE ON AUGUST 7, 2003 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 7, 2003, the gold spot price in CAD opened at C$473.85 per troy ounce and closed at C$475.88. The intraday high was C$477.09 and the low was C$472.64. Gold rose by C$2.30 (+0.49%) from the previous session. The USD/CAD exchange rate was 1.35.

OHLC DATA — AUGUST 7, 2003

Metric	Price (CAD)
Open	C$473.85
High	C$477.09
Low	C$472.64
Close	C$475.88
Change	+2.30 (+0.49%)

Metric

Price (CAD)

Open

C$473.85

High

C$477.09

Low

C$472.64

Close

C$475.88

Change

+2.30 (+0.49%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$475.88
Gold Price per Gram	C$15.30
Gold Price per Kilogram	C$15,299.88

Unit

Price (CAD)

Gold Price per Troy Ounce

C$475.88

Gold Price per Gram

C$15.30

Gold Price per Kilogram

C$15,299.88

← August 6, 2003 📅 Calendar August 8, 2003 →

COMPARE CANADIAN DEALERS

📊 Market Analysis — August 7, 2003

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. Gold's role as a portfolio diversifier is supported by its low correlation with equities. During the 2008 financial crisis and the 2020 COVID crash, gold provided positive returns when stock markets fell 30–50%. A 10% gold allocation has historically reduced portfolio volatility while maintaining competitive long-term returns.

❓ Frequently Asked Questions

❓ Why does gold in CAD differ from USD prices?

Gold in CAD = (Gold in USD) × (USD/CAD exchange rate). When the Canadian Dollar weakens against the USD, gold in CAD rises even if the USD price is flat. This currency effect has historically added 2–4% annualized return for Canadian gold investors compared to USD returns.

❓ What determines the daily gold price in Canada?

The gold spot price is set by continuous trading on global exchanges including COMEX (New York), London Bullion Market, and Shanghai Gold Exchange. The CAD price reflects the USD spot price multiplied by the USD/CAD exchange rate, meaning both gold and currency movements affect Canadian pricing.

❓ Is gold a good long-term investment in Canada?

Gold has historically preserved purchasing power against Canadian inflation. Over the past 25 years, gold in CAD has outperformed GICs, savings accounts, and even many equity benchmarks during bear markets. However, gold generates no income — returns come solely from price appreciation.

💡 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)

Unit	Price (CAD)
Per Troy Ounce (31.1g)	C$473.85
Per Gram	C$15.23
Per Kilogram	C$15,234.61
Per Pennyweight (1.555g)	C$23.69
Per Tola (11.66g)	C$177.69

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$473.85

Per Gram

C$15.23

Per Kilogram

C$15,234.61

Per Pennyweight (1.555g)

C$23.69

Per Tola (11.66g)

C$177.69

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