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1OZ GOLD BAR — NOVEMBER 3, 2004

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

C$525.26
Premium: C$12.81 (2.5%)

On Wednesday, November 3, 2004, the 1oz Gold Bar was priced at C$525.26 in Canadian Dollars. This included the spot price of C$512.45 plus a typical dealer premium of C$12.81 (2.5% over spot). Gold fell C$2.43 (-0.47%) 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 -3.7% below the yearly average and -8.4% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$512.45
Premium (2.5%)+C$12.81
1oz Gold BarC$525.26
Per GramC$16.89

CANADIAN DEALER PRICES — NOVEMBER 3, 2004

Dealer1 oz Bar (CAD)Premium
KitcoC$577.45C$65.00
Sprott MoneyC$590.45C$78.00
SilverGoldBullC$567.45C$55.00
TD Precious MetalsC$607.45C$95.00
Royal Canadian MintC$622.45C$110.00
Border GoldC$582.45C$70.00

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📊 Market Analysis — November 3, 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

❓ 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$525.26
Per GramC$16.89
Per KilogramC$16,887.48
Per Pennyweight (1.555g)C$26.26
Per Tola (11.66g)C$196.97

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