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GOLD PRICE — 2020-W20 (CAD)

📅 May 12, 2020 to May 18, 2020 · 5 trading days

C$2,440.28
+58.20 (+2.44%)

During the week of 2020-W20 (May 12, 2020 to May 18, 2020), the gold spot price in Canadian Dollars opened at C$2,382.08 and closed at C$2,440.28, a weekly gain of C$58.20 (+2.44%). There were 5 trading days during this week.

The weekly trading range spanned from C$2,382.08 to C$2,494.81, a range of C$112.73. The weekly average gold price was C$2,430.44 per troy ounce. Weekly summaries help Canadian investors identify short-term momentum and plan their entry points for bullion purchases from dealers like Kitco, Sprott Money, and SilverGoldBull.

DAILY PRICES — 2020-W20

DateClose (CAD)Change%
May 12, 2020C$2,389.23+28.68+1.21%
May 13, 2020C$2,413.33+24.10+1.01%
May 14, 2020C$2,448.81+35.48+1.47%
May 15, 2020C$2,460.55+11.74+0.48%
May 18, 2020C$2,440.28-20.27-0.82%

WEEKLY OVERVIEW

MetricCAD
OpenC$2,382.08
CloseC$2,440.28
HighC$2,494.81
LowC$2,382.08
AverageC$2,430.44
Change+58.20 (+2.44%)

📊 Gold Market Analysis

For Canadian investors, understanding the relationship between the USD/CAD exchange rate and gold pricing is essential. A weakening Canadian Dollar amplifies gold returns in CAD terms, while a strengthening CAD can dampen returns even when USD-denominated gold rises. Geopolitical tensions — including trade wars, military conflicts, and sanctions — historically drive gold higher as investors seek safe-haven assets. The Canadian Dollar, as a commodity currency tied to oil prices, can weaken independently during global uncertainty, creating a double tailwind for gold priced in CAD.

❓ 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)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,382.08
Per GramC$76.59
Per KilogramC$76,585.54
Per Pennyweight (1.555g)C$119.10
Per Tola (11.66g)C$893.28

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