GOLD PRICE ON MARCH 16, 2020 (CAD)
📅 Historical Gold Price — XAU/CAD
On March 16, 2020, the gold spot price in CAD opened at C$2,165.01 per troy ounce and closed at C$2,050.22. The intraday high was C$2,165.01 and the low was C$2,003.58. Gold fell by C$63.09 (-2.99%) from the previous session. The USD/CAD exchange rate was 1.3798.
OHLC DATA — MARCH 16, 2020
| Metric | Price (CAD) |
|---|---|
| Open | C$2,165.01 |
| High | C$2,165.01 |
| Low | C$2,003.58 |
| Close | C$2,050.22 |
| Change | -63.09 (-2.99%) |
PRICE IN OTHER UNITS
| Unit | Price (CAD) |
|---|---|
| Gold Price per Troy Ounce | C$2,050.22 |
| Gold Price per Gram | C$65.92 |
| Gold Price per Kilogram | C$65,916.01 |
COMPARE CANADIAN DEALERS
📊 Market Analysis — March 16, 2020
❓ Frequently Asked Questions
❓ 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.
❓ 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.
💡 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$2,165.01 |
| Per Gram | C$69.61 |
| Per Kilogram | C$69,606.59 |
| Per Pennyweight (1.555g) | C$108.25 |
| Per Tola (11.66g) | C$811.88 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides