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1OZ GOLD BAR — MAY 23, 2006

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

C$775.91
Premium: C$18.92 (2.5%)

On Tuesday, May 23, 2006, the 1oz Gold Bar was priced at C$775.91 in Canadian Dollars. This included the spot price of C$756.99 plus a typical dealer premium of C$18.92 (2.5% over spot). Gold rose C$23.32 (+3.18%) 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 2006, gold in CAD traded between C$611.35 and C$791.71, with an annual average of C$684.64. This day's price was 10.6% above the yearly average and -4.4% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$756.99
Premium (2.5%)+C$18.92
1oz Gold BarC$775.91
Per GramC$24.95

CANADIAN DEALER PRICES — MAY 23, 2006

Dealer1 oz Bar (CAD)Premium
KitcoC$821.99C$65.00
Sprott MoneyC$834.99C$78.00
SilverGoldBullC$811.99C$55.00
TD Precious MetalsC$851.99C$95.00
Royal Canadian MintC$866.99C$110.00
Border GoldC$826.99C$70.00

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📊 Market Analysis — May 23, 2006

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. Gold has historically outperformed during periods of negative real interest rates — when inflation exceeds the Bank of Canada's overnight rate. Canadian investors use gold as a hedge against purchasing power erosion, particularly when CPI exceeds 3%. The correlation between gold and the inverse of real rates makes it a strategic allocation in balanced portfolios.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$775.91
Per GramC$24.95
Per KilogramC$24,946.05
Per Pennyweight (1.555g)C$38.80
Per Tola (11.66g)C$290.97

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