Home›Products›1oz Gold Bar›July 12, 2022

1OZ GOLD BAR — JULY 12, 2022

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

C$2,295.37
Premium: C$55.98 (2.5%)

On Tuesday, July 12, 2022, the 1oz Gold Bar was priced at C$2,295.37 in Canadian Dollars. This included the spot price of C$2,239.39 plus a typical dealer premium of C$55.98 (2.5% over spot). Gold fell C$0.44 (-0.02%) 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 2022, gold in CAD traded between C$2,187.41 and C$2,611.61, with an annual average of C$2,340.30. This day's price was -4.3% below the yearly average and -14.3% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$2,239.39
Premium (2.5%)+C$55.98
1oz Gold BarC$2,295.37
Per GramC$73.80

CANADIAN DEALER PRICES — JULY 12, 2022

Dealer1 oz Bar (CAD)Premium
KitcoC$2,304.39C$65.00
Sprott MoneyC$2,317.39C$78.00
SilverGoldBullC$2,294.39C$55.00
TD Precious MetalsC$2,334.39C$95.00
Royal Canadian MintC$2,349.39C$110.00
Border GoldC$2,309.39C$70.00

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📊 Market Analysis — July 12, 2022

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. The London Bullion Market Association (LBMA) sets the benchmark gold price twice daily through electronic auction. This price, quoted in USD, is then converted to CAD using the prevailing exchange rate. Canadian dealers like Kitco update their premiums every 10–30 seconds based on these spot movements.

❓ 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

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,295.37
Per GramC$73.80
Per KilogramC$73,797.75
Per Pennyweight (1.555g)C$114.77
Per Tola (11.66g)C$860.76

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