Gold has long been regarded to be one of the most desirable precious metals. It’s natural properties make it hard to tarnish, very malleable, and great conductivity. It’s beautiful colour and shine further distinguished Gold from other metals such as Copper, Iron, and Silver. Due to its desirability, the precious metal in turn became quite valuable. Today, we look at spot prices in order to determine the value of metals such as Gold and Silver. A spot price refers to the price at which a commodity could be traded, and more specifically the price at that very moment. Moreover, Gold experiences moments of great volatility and also periods of slow movement. The price naturally fluctuates however, unlike other commodities, Gold’s price is not as affected by notions like supply and demand. Economic data and geopolitical news both also play a vital role in the fluctuation that the price will experience. Gold’s trading denomination is mainly XAU USD, but in Canada  many use XAU CAD.

Gold has built a reputation of being an amazing addition to one’s investment portfolio as it is stable and reliable. History has shown that when faith in the government and the economy begin to dwindle, buyers flock towards safe-haven metals. During the COVID-19 pandemic, a crisis faced economies globally leading to Gold and Silver gaining momentum and breaking records. The spot price of Gold surpassed the $2000 (USD) mark and it was all due to the economic uncertainty surrounding the pandemic. The spot price of gold also tends to mirror currencies such as the U.S Dollar as it serves as a hedge against inflation. In Canada Gold’s prices don’t really mirror the CAD as much, as XAU USD is traded more than XAU CAD.

Should you need to verify the spot price of Gold, simply look at our website’s integrated price bar at the top. These prices update regularly to show you the current spot price in CAD. Should you have any inquiries on our products and premiums in addition to the spot price, feel free to contact us. Reach us via social media, email, live chat, or call us!