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1OZ GOLD BAR — OCTOBER 8, 2020

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

C$2,566.47
Premium: C$62.60 (2.5%)

On Thursday, October 8, 2020, the 1oz Gold Bar was priced at C$2,566.47 in Canadian Dollars. This included the spot price of C$2,503.87 plus a typical dealer premium of C$62.60 (2.5% over spot). Gold fell C$5.33 (-0.21%) 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 2020, gold in CAD traded between C$1,977.73 and C$2,721.27, with an annual average of C$2,376.14. This day's price was 5.4% above the yearly average and -8.0% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$2,503.87
Premium (2.5%)+C$62.60
1oz Gold BarC$2,566.47
Per GramC$82.51

CANADIAN DEALER PRICES — OCTOBER 8, 2020

Dealer1 oz Bar (CAD)Premium
KitcoC$2,568.87C$65.00
Sprott MoneyC$2,581.87C$78.00
SilverGoldBullC$2,558.87C$55.00
TD Precious MetalsC$2,598.87C$95.00
Royal Canadian MintC$2,613.87C$110.00
Border GoldC$2,573.87C$70.00

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📊 Market Analysis — October 8, 2020

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

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,566.47
Per GramC$82.51
Per KilogramC$82,513.81
Per Pennyweight (1.555g)C$128.32
Per Tola (11.66g)C$962.43

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