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GOLD PRICE ON AUGUST 23, 2011 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 23, 2011, the gold spot price in CAD opened at C$1,890.67 per troy ounce and closed at C$1,840.46. The intraday high was C$1,890.97 and the low was C$1,807.08. Gold fell by C$31.24 (-1.67%) from the previous session. The USD/CAD exchange rate was 0.9904.

OHLC DATA — AUGUST 23, 2011

Metric	Price (CAD)
Open	C$1,890.67
High	C$1,890.97
Low	C$1,807.08
Close	C$1,840.46
Change	-31.24 (-1.67%)

Metric

Price (CAD)

Open

C$1,890.67

High

C$1,890.97

Low

C$1,807.08

Close

C$1,840.46

Change

-31.24 (-1.67%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$1,840.46
Gold Price per Gram	C$59.17
Gold Price per Kilogram	C$59,172.08

Unit

Price (CAD)

Gold Price per Troy Ounce

C$1,840.46

Gold Price per Gram

C$59.17

Gold Price per Kilogram

C$59,172.08

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COMPARE CANADIAN DEALERS

📊 Market Analysis — August 23, 2011

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. The Canadian Dollar (CAD) is strongly correlated with crude oil prices due to Canada's status as a major oil exporter. When oil prices fall, the CAD typically weakens, causing gold priced in CAD to rise even if USD gold is flat. This commodity currency dynamic makes gold an effective diversifier in Canadian portfolios.

❓ Frequently Asked Questions

❓ How often do gold prices update?

Gold spot prices update every few seconds during market hours. The main trading sessions are London (3:00 AM – 12:00 PM ET), New York (8:20 AM – 1:30 PM ET), and Asian markets (evening ET). The CAD conversion rate updates approximately every 60 seconds.

❓ 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.

💡 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)

Unit	Price (CAD)
Per Troy Ounce (31.1g)	C$1,890.67
Per Gram	C$60.79
Per Kilogram	C$60,786.36
Per Pennyweight (1.555g)	C$94.53
Per Tola (11.66g)	C$709.00

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$1,890.67

Per Gram

C$60.79

Per Kilogram

C$60,786.36

Per Pennyweight (1.555g)

C$94.53

Per Tola (11.66g)

C$709.00

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