How the gold price is set in Canada

Why Canadian gold prices follow the global USD spot price and how the exchange rate changes what you pay in CAD.

Gold trades globally in US dollars per troy ounce. The Canadian price is that spot price multiplied by the current USD to CAD exchange rate.

That means the CAD gold price can rise even on a day when gold falls in USD, if the Canadian dollar weakens enough.

Spot is a wholesale reference. Dealers add a premium when selling and pay a discount when buying, so retail prices differ from spot.

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Estimated melt value$1,086.40

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