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GOLD PRICE ON AUGUST 10, 2020 (CAD)

📅 Historical Gold Price — XAU/CAD

On August 10, 2020, the gold spot price in CAD opened at C$2,712.70 per troy ounce and closed at C$2,710.02. The intraday high was C$2,735.99 and the low was C$2,700.79. Gold rose by C$32.89 (+1.23%) from the previous session. The USD/CAD exchange rate was 1.3387.

OHLC DATA — AUGUST 10, 2020

Metric	Price (CAD)
Open	C$2,712.70
High	C$2,735.99
Low	C$2,700.79
Close	C$2,710.02
Change	+32.89 (+1.23%)

Metric

Price (CAD)

Open

C$2,712.70

High

C$2,735.99

Low

C$2,700.79

Close

C$2,710.02

Change

+32.89 (+1.23%)

PRICE IN OTHER UNITS

Unit	Price (CAD)
Gold Price per Troy Ounce	C$2,710.02
Gold Price per Gram	C$87.13
Gold Price per Kilogram	C$87,129.04

Unit

Price (CAD)

Gold Price per Troy Ounce

C$2,710.02

Gold Price per Gram

C$87.13

Gold Price per Kilogram

C$87,129.04

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COMPARE CANADIAN DEALERS

📊 Market Analysis — August 10, 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. 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

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$2,712.70
Per Gram	C$87.22
Per Kilogram	C$87,215.20
Per Pennyweight (1.555g)	C$135.63
Per Tola (11.66g)	C$1,017.26

Unit

Price (CAD)

Per Troy Ounce (31.1g)

C$2,712.70

Per Gram

C$87.22

Per Kilogram

C$87,215.20

Per Pennyweight (1.555g)

C$135.63

Per Tola (11.66g)

C$1,017.26

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