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SOUTH AFRICAN KRUGERRAND — OCTOBER 31, 2018

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

C$1,661.35
Premium: C$71.54 (4.5%)

On Wednesday, October 31, 2018, the South African Krugerrand was priced at C$1,661.35 in Canadian Dollars. This included the spot price of C$1,589.81 plus a typical dealer premium of C$71.54 (4.5% over spot). Gold fell C$15.32 (-0.95%) 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 2018, gold in CAD traded between C$1,524.31 and C$1,744.79, with an annual average of C$1,641.65. This day's price was -3.2% below the yearly average and -8.9% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$1,589.81
Premium (4.5%)+C$71.54
South African KrugerrandC$1,661.35
Per GramC$53.41

CANADIAN DEALER PRICES — OCTOBER 31, 2018

Dealer1 oz Bar (CAD)Premium
KitcoC$1,654.81C$65.00
Sprott MoneyC$1,667.81C$78.00
SilverGoldBullC$1,644.81C$55.00
TD Precious MetalsC$1,684.81C$95.00
Royal Canadian MintC$1,699.81C$110.00
Border GoldC$1,659.81C$70.00

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📊 Market Analysis — October 31, 2018

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$1,661.35
Per GramC$53.41
Per KilogramC$53,413.57
Per Pennyweight (1.555g)C$83.07
Per Tola (11.66g)C$623.01

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