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GOLD PRICE ON AUGUST 3, 2020 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 3, 2020, the gold spot price in CAD opened at C$2,658.41 per troy ounce and closed at C$2,633.89. The intraday high was C$2,658.41 and the low was C$2,619.82. Gold rose by C$1.23 (+0.05%) from the previous session. The USD/CAD exchange rate was 1.3397.

OHLC DATA — AUGUST 3, 2020

Metric	Price (CAD)
Open	C$2,658.41
High	C$2,658.41
Low	C$2,619.82
Close	C$2,633.89
Change	+1.23 (+0.05%)

Metric

Price (CAD)

Open

C$2,658.41

High

C$2,658.41

Low

C$2,619.82

Close

C$2,633.89

Change

+1.23 (+0.05%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$2,633.89
Gold Price per Gram	C$84.68
Gold Price per Kilogram	C$84,681.41

Unit

Price (CAD)

Gold Price per Troy Ounce

C$2,633.89

Gold Price per Gram

C$84.68

Gold Price per Kilogram

C$84,681.41

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COMPARE CANADIAN DEALERS

📊 Market Analysis — August 3, 2020

Gold demand in Canada has grown significantly over the past decade, driven by institutional investors, ETF flows, and retail buyers seeking portfolio diversification. The Royal Canadian Mint's Gold Maple Leaf remains one of the world's most widely traded bullion coins. Exchange-traded funds (ETFs) like SPDR Gold Shares (GLD) and iShares Gold Bullion ETF (CGL.TO) offer paper gold exposure. However, physical bullion provides tangible ownership without counterparty risk. Canadian investors should weigh convenience (ETFs) against security (physical) when building gold allocations.

❓ 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

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

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.

⚖️ Unit Conversions (CAD)

Unit	Price (CAD)
Per Troy Ounce (31.1g)	C$2,658.41
Per Gram	C$85.47
Per Kilogram	C$85,469.74
Per Pennyweight (1.555g)	C$132.92
Per Tola (11.66g)	C$996.90

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$2,658.41

Per Gram

C$85.47

Per Kilogram

C$85,469.74

Per Pennyweight (1.555g)

C$132.92

Per Tola (11.66g)

C$996.90

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