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SOUTH AFRICAN KRUGERRAND — OCTOBER 20, 2017

🪙 91.67% Purity · NOT GST/HST-exempt · RRSP/TFSA: No (below 99.5%)

C$1,666.02
Premium: C$71.74 (4.5%)

On Friday, October 20, 2017, the South African Krugerrand was priced at C$1,666.02 in Canadian Dollars. This included the spot price of C$1,594.28 plus a typical dealer premium of C$71.74 (4.5% over spot). Gold fell C$9.94 (-0.62%) from the previous session.

The Krugerrand was the world's first modern gold bullion coin, introduced by South Africa in 1967. Like the American Eagle, its 91.67% purity means it is NOT GST/HST-exempt in Canada and NOT eligible for registered accounts. However, its historical significance and worldwide recognition make it a sought-after collectible.

In 2017, gold in CAD traded between C$1,550.35 and C$1,744.55, with an annual average of C$1,632.14. This day's price was -2.3% below the yearly average and -8.6% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$1,594.28
Premium (4.5%)+C$71.74
South African KrugerrandC$1,666.02
Per GramC$53.56

CANADIAN DEALER PRICES — OCTOBER 20, 2017

Dealer1 oz Bar (CAD)Premium
KitcoC$1,659.28C$65.00
Sprott MoneyC$1,672.28C$78.00
SilverGoldBullC$1,649.28C$55.00
TD Precious MetalsC$1,689.28C$95.00
Royal Canadian MintC$1,704.28C$110.00
Border GoldC$1,664.28C$70.00

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📊 Market Analysis — October 20, 2017

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

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$1,666.02
Per GramC$53.56
Per KilogramC$53,563.71
Per Pennyweight (1.555g)C$83.30
Per Tola (11.66g)C$624.76

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