1OZ GOLD BAR — AUGUST 31, 2023
🪙 99.99% Purity · GST/HST-exempt · RRSP/TFSA: Yes
On Thursday, August 31, 2023, the 1oz Gold Bar was priced at C$2,689.00 in Canadian Dollars. This included the spot price of C$2,623.41 plus a typical dealer premium of C$65.59 (2.5% over spot). Gold fell C$12.85 (-0.49%) 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 2023, gold in CAD traded between C$2,446.93 and C$2,807.55, with an annual average of C$2,621.94. This day's price was 0.1% above the yearly average and -6.6% from the year's high.
PRICE BREAKDOWN
| Component | CAD |
|---|---|
| Gold Spot (XAU/CAD) | C$2,623.41 |
| Premium (2.5%) | +C$65.59 |
| 1oz Gold Bar | C$2,689.00 |
| Per Gram | C$86.45 |
CANADIAN DEALER PRICES — AUGUST 31, 2023
| Dealer | 1 oz Bar (CAD) | Premium |
|---|---|---|
| Kitco | C$2,688.41 | C$65.00 |
| Sprott Money | C$2,701.41 | C$78.00 |
| SilverGoldBull | C$2,678.41 | C$55.00 |
| TD Precious Metals | C$2,718.41 | C$95.00 |
| Royal Canadian Mint | C$2,733.41 | C$110.00 |
| Border Gold | C$2,693.41 | C$70.00 |
📊 Market Analysis — August 31, 2023
❓ 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)
| Unit | Price (CAD) |
|---|---|
| Per Troy Ounce (31.1g) | C$2,689.00 |
| Per Gram | C$86.45 |
| Per Kilogram | C$86,453.23 |
| Per Pennyweight (1.555g) | C$134.45 |
| Per Tola (11.66g) | C$1,008.38 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides