Tuesday, 15 October 2024, 4:10 PM
Gold Unit | Canadian Dollar | U.S. Dollar |
---|---|---|
Gold Ounce | 3,669.94 | 2,659.41 |
Gold Gram Karat 24k | 118.00 | 85.51 |
Gold Gram Karat 22k | 108.09 | 78.33 |
Gold Gram Karat 21k | 103.25 | 74.82 |
Gold Gram Karat 18k | 88.50 | 64.13 |
Gold Gram Karat 14k | 69.03 | 50.02 |
Gold Gram Karat 12k | 59.00 | 42.76 |
Gold Gram Karat 10k | 49.21 | 35.66 |
Gold Gram Karat 9k | 44.25 | 32.07 |
Gold Gram Karat 8k | 39.30 | 28.48 |
In Canada, the most commonly used gold karats are 14K, 10K, and 18K. Among these, 14K gold is the most popular choice for jewelry due to its excellent balance of durability and luster. Comprising 58.3% pure gold mixed with other metals like copper and silver, it offers a good compromise between price and quality.
Next in line is 10K gold, which contains 41.7% pure gold. This karat is often favored for its affordability and robustness, making it a suitable option for everyday wear. While it has a lighter color than higher karats, it is still a strong choice for jewelry that sees regular use.
18K gold, consisting of 75% pure gold, is less commonly used but valued for its rich color and higher gold content, often found in fine jewelry. Lastly, 22K gold and 24K gold are found less frequently in Canada, primarily used in specialized or traditional pieces due to their softness and malleability.
The price of gold in Canada is influenced by a variety of factors, with the primary determinant being the global market price, which is influenced by supply and demand dynamics worldwide. Gold is traded on international exchanges, such as the London Bullion Market and COMEX, where prices are set based on these global factors.
Strong economic indicators, including inflation rates, currency strength (particularly the US dollar), and geopolitical stability, play a crucial role in determining gold prices. Generally, when the economy is unstable or during periods of high inflation, investors tend to flock to gold as a safe haven, thereby driving up its price.
In Canada, local factors also influence pricing. The Canadian dollar value relative to the US dollar can affect the Canadian gold price, as gold is typically priced in US dollars. Additionally, mining production levels and the cost of extraction can impact local supply and prices.
Finally, government policies, including taxation and trade regulations, can also have a significant impact on the gold market in Canada, shaping how prices evolve over time.
As of late 2023, analysts have been closely monitoring the factors influencing gold prices in Canada. Strong market fluctuations, inflation rates, and geopolitical tensions are key elements that experts believe will shape the future of gold trading in the country.
Many economists predict that gold prices may experience a gradual increase as global tensions persist and investors seek safe-haven assets. The ongoing concerns about economic instability, combined with rising inflation, are likely to drive demand for gold, which is traditionally seen as a hedge against inflation.
Moreover, Canada's significant gold production and resource sectors might further affect local prices. The Bank of Canada's monetary policy, particularly regarding interest rates, will play a critical role in the investment landscape. If the central bank maintains lower interest rates, gold could gain appeal among investors looking for alternatives to traditional savings strategies.
Overall, while there are uncertainties in the markets, many experts are optimistic about the long-term prospects for gold prices in Canada. Investors should remain vigilant, ready to adapt to changing economic indicators and global events that could influence gold's value.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
15 October 2024 | 3,647.88 | 117.30 | 107.51 | 102.61 | 87.94 | 68.44 |
14 October 2024 | 3,663.72 | 117.80 | 107.98 | 103.06 | 88.32 | 68.74 |
11 October 2024 | 3,656.66 | 117.58 | 107.77 | 102.86 | 88.15 | 68.61 |
12 October 2024 | 3,662.37 | 117.76 | 107.94 | 103.02 | 88.29 | 68.71 |
11 October 2024 | 3,638.76 | 117.00 | 107.24 | 102.36 | 87.72 | 68.27 |
10 October 2024 | 3,578.96 | 115.08 | 105.48 | 100.67 | 86.28 | 67.15 |
9 October 2024 | 3,574.06 | 114.92 | 105.34 | 100.54 | 86.16 | 67.06 |
8 October 2024 | 3,604.47 | 115.90 | 106.23 | 101.39 | 86.90 | 67.63 |
7 October 2024 | 3,593.55 | 115.55 | 105.91 | 101.08 | 86.63 | 67.42 |
6 October 2024 | 3,601.99 | 115.82 | 106.16 | 101.32 | 86.84 | 67.58 |
5 October 2024 | 3,601.99 | 115.82 | 106.16 | 101.32 | 86.84 | 67.58 |
4 October 2024 | 3,614.29 | 116.22 | 106.52 | 101.67 | 87.13 | 67.81 |
3 October 2024 | 3,588.01 | 115.37 | 105.75 | 100.93 | 86.50 | 67.32 |
2 October 2024 | 3,576.26 | 114.99 | 105.40 | 100.60 | 86.22 | 67.10 |
1 October 2024 | 3,568.50 | 114.74 | 105.17 | 100.38 | 86.03 | 66.95 |
30 September 2024 | 3,591.49 | 115.48 | 105.85 | 101.03 | 86.58 | 67.38 |
29 September 2024 | 3,587.14 | 115.34 | 105.72 | 100.90 | 86.48 | 67.30 |
28 September 2024 | 3,587.14 | 115.34 | 105.72 | 100.90 | 86.48 | 67.30 |
27 September 2024 | 3,606.23 | 115.96 | 106.28 | 101.44 | 86.94 | 67.66 |
26 September 2024 | 3,582.58 | 115.20 | 105.59 | 100.78 | 86.37 | 67.22 |
25 September 2024 | 3,571.36 | 114.83 | 105.26 | 100.46 | 86.10 | 67.00 |
24 September 2024 | 3,565.36 | 114.64 | 105.08 | 100.29 | 85.95 | 66.89 |
23 September 2024 | 3,558.77 | 114.43 | 104.89 | 100.11 | 85.79 | 66.77 |
22 September 2024 | 3,563.65 | 114.59 | 105.03 | 100.24 | 85.91 | 66.86 |
21 September 2024 | 3,564.70 | 114.62 | 105.06 | 100.27 | 85.94 | 66.88 |
20 September 2024 | 3,513.68 | 112.98 | 103.56 | 98.84 | 84.71 | 65.92 |
19 September 2024 | 3,486.64 | 112.11 | 102.76 | 98.08 | 84.06 | 65.42 |
18 September 2024 | 3,485.00 | 112.06 | 102.71 | 98.03 | 84.02 | 65.38 |
17 September 2024 | 3,504.10 | 112.67 | 103.27 | 98.57 | 84.48 | 65.74 |
16 September 2024 | 3,507.11 | 112.77 | 103.36 | 98.65 | 84.55 | 65.80 |
Gold making charges refer to the costs associated with transforming raw gold into jewelry or other finished products. In Canada, these charges can greatly vary depending on factors such as craftsmanship, design complexity, and the retailer's reputation. Typically, making charges are expressed as a percentage of the gold's gram price, which can range from 5% to 20%.
For example, if the current price of gold is approximately CAD 80 per gram, the making charges might be between CAD 4 to CAD 16 per gram. This means, in total, the cost of a gram of gold jewelry could range from about CAD 84 to CAD 96, depending on the intricacies involved in the making process.
Consumers should take these charges into account when purchasing gold products, as they can significantly influence the final price. Additionally, it is important to compare different retailers and assess the quality of craftsmanship to ensure that the making charges align with the value of the jewelry being purchased.