Gold Price Today in Canada

What Affects Gold Prices in Canada?

Gold prices in Canada are influenced by global gold market trends, but also by Canadian economic factors such as the strength of the Canadian Dollar, Bank of Canada monetary policies, inflation rates, and the health of the domestic mining industry. As one of the world's leading gold producers, changes in Canadian mining output can also impact local gold prices.

Gold Measurement Units in Canada

In Canada, gold is commonly measured in:

• Troy Ounce: The standard unit for gold trading (1 troy oz = 31.1035 grams)
• Grams: Used for smaller quantities and jewelry
• Pennyweight (dwt): Used in some jewelry contexts (1 dwt = 1.555 grams)
• Canadian Maple Leaf: A popular 1oz gold coin investment unit

Most gold price reporting in Canada uses the price per troy ounce in Canadian Dollars (CAD).

Gold Purity Standards in Canadian Markets

Gold in Canada is typically categorized by these purity levels:

• 24K Gold (99.99% pure): Used for investment products like Canadian Maple Leaf coins
• 22K Gold (91.7% pure): Sometimes used for gold coins and higher-end jewelry
• 18K Gold (75% pure): Common for fine jewelry in Canada
• 14K Gold (58.3% pure): Popular for everyday Canadian jewelry
• 10K Gold (41.7% pure): Minimum gold content for items to be legally sold as gold in Canada

The Royal Canadian Mint is known for producing some of the world's purest gold coins, with the Gold Maple Leaf being offered at 99.99% purity.