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1OZ GOLD BAR — AUGUST 5, 2002

🪙 99.99% Purity · GST/HST-exempt · RRSP/TFSA: Yes

C$425.92
Premium: C$10.39 (2.5%)

On Monday, August 5, 2002, the 1oz Gold Bar was priced at C$425.92 in Canadian Dollars. This included the spot price of C$415.53 plus a typical dealer premium of C$10.39 (2.5% over spot). Gold rose C$1.08 (+0.26%) from the previous session.

1oz gold bars are produced by refiners worldwide, including the Royal Canadian Mint, PAMP Suisse, and Valcambi. Canadian investors favour bars from LBMA-approved refiners, which ensure quality and resale value. Investment-grade gold bars with 99.5%+ purity are GST/HST-exempt and eligible for RRSP/TFSA registration in Canada.

In 2002, gold in CAD traded between C$375.44 and C$471.42, with an annual average of C$419.14. This day's price was -0.9% below the yearly average and -11.9% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$415.53
Premium (2.5%)+C$10.39
1oz Gold BarC$425.92
Per GramC$13.69

CANADIAN DEALER PRICES — AUGUST 5, 2002

Dealer1 oz Bar (CAD)Premium
KitcoC$480.53C$65.00
Sprott MoneyC$493.53C$78.00
SilverGoldBullC$470.53C$55.00
TD Precious MetalsC$510.53C$95.00
Royal Canadian MintC$525.53C$110.00
Border GoldC$485.53C$70.00

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📊 Market Analysis — August 5, 2002

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

❓ Can I hold gold in my RRSP or TFSA?

Gold bars and coins with 99.5%+ purity from approved refiners can be held in a self-directed RRSP or TFSA through a qualified custodian. Storage is handled by approved vault facilities like those operated by the Royal Canadian Mint.

❓ Is this product GST/HST-exempt in Canada?

Under the Excise Tax Act, investment-grade gold bullion with 99.5% or higher purity is exempt from GST/HST across all Canadian provinces. Products below this threshold (e.g., American Eagle at 91.67% gold) are subject to full provincial sales tax.

❓ How should I store gold safely at home?

If storing at home, use a UL-rated fire-resistant safe bolted to concrete. Consider a rider on your home insurance policy. For larger holdings, allocated vault storage through Kitco Pool or Sprott Money provides institutional-grade security.

💡 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$425.92
Per GramC$13.69
Per KilogramC$13,693.63
Per Pennyweight (1.555g)C$21.30
Per Tola (11.66g)C$159.72

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