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GOLD PRICE ON AUGUST 7, 2020 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 7, 2020, the gold spot price in CAD opened at C$2,717.09 per troy ounce and closed at C$2,677.13. The intraday high was C$2,736.93 and the low was C$2,676.47. Gold fell by C$44.14 (-1.62%) from the previous session. The USD/CAD exchange rate was 1.3318.

OHLC DATA — AUGUST 7, 2020

Metric	Price (CAD)
Open	C$2,717.09
High	C$2,736.93
Low	C$2,676.47
Close	C$2,677.13
Change	-44.14 (-1.62%)

Metric

Price (CAD)

Open

C$2,717.09

High

C$2,736.93

Low

C$2,676.47

Close

C$2,677.13

Change

-44.14 (-1.62%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$2,677.13
Gold Price per Gram	C$86.07
Gold Price per Kilogram	C$86,071.60

Unit

Price (CAD)

Gold Price per Troy Ounce

C$2,677.13

Gold Price per Gram

C$86.07

Gold Price per Kilogram

C$86,071.60

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COMPARE CANADIAN DEALERS

📊 Market Analysis — August 7, 2020

Market technicals for gold in CAD incorporate both the underlying commodity trend and currency movements. Support and resistance levels for XAU/CAD often differ from XAU/USD due to the additional variable of Canadian Dollar strength. The gold-to-silver ratio, currently fluctuating between 80:1 and 90:1, is watched closely by precious metals investors. Historically, ratios above 80 suggest silver is undervalued relative to gold. Canadian investors can use this metric to decide whether to overweight gold or silver in their bullion portfolios when purchasing from dealers like Kitco or Sprott Money.

❓ 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

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.

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.

⚖️ Unit Conversions (CAD)

Unit	Price (CAD)
Per Troy Ounce (31.1g)	C$2,717.09
Per Gram	C$87.36
Per Kilogram	C$87,356.35
Per Pennyweight (1.555g)	C$135.85
Per Tola (11.66g)	C$1,018.91

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$2,717.09

Per Gram

C$87.36

Per Kilogram

C$87,356.35

Per Pennyweight (1.555g)

C$135.85

Per Tola (11.66g)

C$1,018.91

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