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GOLD PRICE ON AUGUST 6, 2020 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 6, 2020, the gold spot price in CAD opened at C$2,713.31 per troy ounce and closed at C$2,721.27. The intraday high was C$2,736.53 and the low was C$2,706.02. Gold rose by C$20.76 (+0.77%) from the previous session. The USD/CAD exchange rate was 1.3265.

OHLC DATA — AUGUST 6, 2020

Metric	Price (CAD)
Open	C$2,713.31
High	C$2,736.53
Low	C$2,706.02
Close	C$2,721.27
Change	+20.76 (+0.77%)

Metric

Price (CAD)

Open

C$2,713.31

High

C$2,736.53

Low

C$2,706.02

Close

C$2,721.27

Change

+20.76 (+0.77%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$2,721.27
Gold Price per Gram	C$87.49
Gold Price per Kilogram	C$87,490.74

Unit

Price (CAD)

Gold Price per Troy Ounce

C$2,721.27

Gold Price per Gram

C$87.49

Gold Price per Kilogram

C$87,490.74

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COMPARE CANADIAN DEALERS

📊 Market Analysis — August 6, 2020

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 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

Portfolio Allocation: Most Canadian financial planners recommend allocating 5–15% of a diversified portfolio to gold and precious metals. This allocation provides downside protection during equity bear markets while maintaining growth potential during inflationary periods.

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.

⚖️ Unit Conversions (CAD)

Unit	Price (CAD)
Per Troy Ounce (31.1g)	C$2,713.31
Per Gram	C$87.23
Per Kilogram	C$87,234.82
Per Pennyweight (1.555g)	C$135.67
Per Tola (11.66g)	C$1,017.49

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$2,713.31

Per Gram

C$87.23

Per Kilogram

C$87,234.82

Per Pennyweight (1.555g)

C$135.67

Per Tola (11.66g)

C$1,017.49

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