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SOUTH AFRICAN KRUGERRAND — JUNE 29, 2023

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

C$2,643.88
Premium: C$113.85 (4.5%)

On Thursday, June 29, 2023, the South African Krugerrand was priced at C$2,643.88 in Canadian Dollars. This included the spot price of C$2,530.03 plus a typical dealer premium of C$113.85 (4.5% over spot). Gold rose C$6.23 (+0.25%) 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 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 -3.5% below the yearly average and -9.9% from the year's high.

PRICE BREAKDOWN

ComponentCAD
Gold Spot (XAU/CAD)C$2,530.03
Premium (4.5%)+C$113.85
South African KrugerrandC$2,643.88
Per GramC$85.00

CANADIAN DEALER PRICES — JUNE 29, 2023

Dealer1 oz Bar (CAD)Premium
KitcoC$2,595.03C$65.00
Sprott MoneyC$2,608.03C$78.00
SilverGoldBullC$2,585.03C$55.00
TD Precious MetalsC$2,625.03C$95.00
Royal Canadian MintC$2,640.03C$110.00
Border GoldC$2,600.03C$70.00

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📊 Market Analysis — June 29, 2023

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. Gold's role as a portfolio diversifier is supported by its low correlation with equities. During the 2008 financial crisis and the 2020 COVID crash, gold provided positive returns when stock markets fell 30–50%. A 10% gold allocation has historically reduced portfolio volatility while maintaining competitive long-term returns.

❓ 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)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,643.88
Per GramC$85.00
Per KilogramC$85,002.59
Per Pennyweight (1.555g)C$132.19
Per Tola (11.66g)C$991.46

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