Frequently Asked Questions
Expert answers covering gold rates, karat purities, GST/HST regulations, making charges, and investment insights across Canada.
Q1.How often are gold rates updated in Canada?
Gold rates are compiled from third-party market data and refreshed throughout the trading day when our market feed is available. Every rate table carries a visible Eastern Time timestamp so you know exactly how fresh the numbers are.
Q2.What is the difference between 24K, 22K, 21K, and 18K gold?
24K is pure gold (99.9% purity), making it soft and ideal for bullion bars and coins. 22K contains 91.6% gold, popular for traditional high-carat jewelry. 21K (87.5% purity) and 18K (75.0% purity) contain higher alloy metals for enhanced durability, making them perfect for intricate diamond or gemstone jewelry settings.
Q3.Are making charges included in the spot gold rates shown?
No. The prices displayed on our website reflect the intrinsic melt-value of raw gold per gram in Canadian dollars (CAD). Making charges, design complexity fees, and brand premiums are charged separately by Canadian retailers and jewellers, whether you buy from Kitco, Silver Gold Bull, or a local jewellery store.
Q4.Is there any tax on buying gold in Canada?
Investment-grade gold — bars, wafers and coins of 99.5% purity or higher — is GST/HST-exempt across Canada. Jewellery and lower-purity items are taxed at the regular rate: 5% GST in Alberta and the territories, 12% in British Columbia (5% GST + 7% PST), 13% HST in Ontario, and 14.975% in Quebec (5% GST + 9.975% QST).
Q5.Why do gold prices vary slightly between different dealers in Canada?
While the baseline metal rate is anchored to the global spot price converted to Canadian dollars, individual dealers set different premiums depending on fabrication costs, shipping, buy-back spreads, and whether you buy online (e.g., Kitco in Montreal or Silver Gold Bull in Calgary) or from a local jeweller.
Q6.Can visitors claim tax refunds on gold purchases in Canada?
No. Unlike some countries, Canada does not operate a tourist tax-refund scheme, so visitors pay the applicable GST/HST or QST on taxable gold purchases (such as jewellery) just like residents. Investment-grade bullion remains tax-exempt for everyone.
Q7.Is it better to buy gold bars (bullion) or jewelry for investment?
For pure investment purposes, 24K gold bars and certified coins — such as Royal Canadian Mint products — are always recommended because they carry minimal fabrication premiums, are GST/HST-exempt, and can be liquidated easily at international spot value with negligible buy-back loss.
Q8.How is the gold price per gram calculated from ounce prices?
Global gold is traded in troy ounces (1 troy ounce = 31.1035 grams). To find the 24K gram price in CAD, we take the international ounce rate converted to Canadian dollars and divide it precisely by 31.1035.
Q9.What factors drive gold price movements in Canada?
Key drivers include US Federal Reserve and Bank of Canada interest rate decisions, the USD/CAD exchange rate (a weaker loonie pushes the CAD gold price up), geopolitical tensions, global inflation, and central bank gold purchases.
Q10.Can I sell gold back to any dealer in Canada even if I didn't buy it there?
Yes, the Canadian gold market is highly liquid. Major bullion dealers such as Kitco, Silver Gold Bull and TD Precious Metals, as well as most local jewellers, will buy back gold items. Carrying your original purchase invoice and keeping Royal Canadian Mint assay certificates or hallmarks intact makes the buy-back faster and smoother.
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