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AMERICAN GOLD BUFFALO — DECEMBER 9, 2020

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

C$2,468.82
Premium: C$117.56 (5.0%)

On Wednesday, December 9, 2020, the American Gold Buffalo was priced at C$2,468.82 in Canadian Dollars. This included the spot price of C$2,351.26 plus a typical dealer premium of C$117.56 (5.0% over spot). Gold fell C$43.74 (-1.83%) from the previous session.

The American Gold Buffalo is the US Mint's 99.99% pure gold coin, introduced in 2006. Unlike the American Eagle, the Buffalo's high purity means it IS GST/HST-exempt in Canada and IS eligible for RRSP/TFSA registration—making it an attractive alternative for Canadian investors who appreciate American coin designs.

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 -1.0% below the yearly average and -13.6% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$2,351.26
Premium (5.0%)+C$117.56
American Gold BuffaloC$2,468.82
Per GramC$79.37

CANADIAN DEALER PRICES — DECEMBER 9, 2020

Dealer1 oz Bar (CAD)Premium
KitcoC$2,416.26C$65.00
Sprott MoneyC$2,429.26C$78.00
SilverGoldBullC$2,406.26C$55.00
TD Precious MetalsC$2,446.26C$95.00
Royal Canadian MintC$2,461.26C$110.00
Border GoldC$2,421.26C$70.00

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📊 Market Analysis — December 9, 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

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$2,468.82
Per GramC$79.37
Per KilogramC$79,374.29
Per Pennyweight (1.555g)C$123.44
Per Tola (11.66g)C$925.81

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