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1OZ GOLD BAR — OCTOBER 22, 2004

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

C$537.14
Premium: C$13.10 (2.5%)

On Friday, October 22, 2004, the 1oz Gold Bar was priced at C$537.14 in Canadian Dollars. This included the spot price of C$524.04 plus a typical dealer premium of C$13.10 (2.5% over spot). Gold fell C$3.74 (-0.71%) 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 2004, gold in CAD traded between C$511.73 and C$559.59, with an annual average of C$532.10. This day's price was -1.5% below the yearly average and -6.4% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$524.04
Premium (2.5%)+C$13.10
1oz Gold BarC$537.14
Per GramC$17.27

CANADIAN DEALER PRICES — OCTOBER 22, 2004

Dealer1 oz Bar (CAD)Premium
KitcoC$589.04C$65.00
Sprott MoneyC$602.04C$78.00
SilverGoldBullC$579.04C$55.00
TD Precious MetalsC$619.04C$95.00
Royal Canadian MintC$634.04C$110.00
Border GoldC$594.04C$70.00

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📊 Market Analysis — October 22, 2004

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

❓ 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.

❓ What is the best size to buy for Canadian investors?

For most Canadian investors, 1oz gold bars or Canadian Gold Maple Leaf coins offer the best balance of premium and liquidity. Larger bars (10oz, kilo) have lower premiums per ounce but can be harder to liquidate in smaller amounts.

❓ 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.

💡 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$537.14
Per GramC$17.27
Per KilogramC$17,269.43
Per Pennyweight (1.555g)C$26.86
Per Tola (11.66g)C$201.43

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