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1OZ GOLD BAR — NOVEMBER 2, 2016

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

C$1,793.69
Premium: C$43.75 (2.5%)

On Wednesday, November 2, 2016, the 1oz Gold Bar was priced at C$1,793.69 in Canadian Dollars. This included the spot price of C$1,749.94 plus a typical dealer premium of C$43.75 (2.5% over spot). Gold rose C$23.75 (+1.38%) 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 2016, gold in CAD traded between C$1,490.57 and C$1,790.43, with an annual average of C$1,652.64. This day's price was 5.9% above the yearly average and -2.3% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$1,749.94
Premium (2.5%)+C$43.75
1oz Gold BarC$1,793.69
Per GramC$57.67

CANADIAN DEALER PRICES — NOVEMBER 2, 2016

Dealer1 oz Bar (CAD)Premium
KitcoC$1,814.94C$65.00
Sprott MoneyC$1,827.94C$78.00
SilverGoldBullC$1,804.94C$55.00
TD Precious MetalsC$1,844.94C$95.00
Royal Canadian MintC$1,859.94C$110.00
Border GoldC$1,819.94C$70.00

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📊 Market Analysis — November 2, 2016

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

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.

Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$1,793.69
Per GramC$57.67
Per KilogramC$57,668.39
Per Pennyweight (1.555g)C$89.68
Per Tola (11.66g)C$672.63

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