Gold price today in Canada: how to read the market rate

Before selling a piece of jewellery, a coin or an ingot, the first question is almost always the same: how much is gold worth today? The answer exists and is public — but you need to know how to read it. Here is how to understand the gold price, its units, and what it actually means for you.

What exactly is the "gold price"?

The gold price, also called the spot price, is the reference price at which pure gold trades at this moment on international markets. It is usually quoted in US dollars per troy ounce, then converted into other currencies, including the Canadian dollar.

This price is global: it is the same reference point in Montreal, London or Zurich. What varies from place to place is not the market rate, but what each buyer does with it.

Why does the price change constantly?

Gold trades almost around the clock on business days. Its price reacts to many factors: interest rates, inflation, the US dollar exchange rate, central bank purchases and geopolitical events. It can therefore move several times within the same day.

That is why a serious buyer always calculates their offer at the rate in effect at the moment of your visit — never from a price set the week before.

Troy ounce, gram, kilo: watch the units

The main source of confusion is the unit. A troy ounce equals about 31.1 grams — not 28 like an ordinary ounce. A price quoted "per ounce" therefore looks far more impressive than a price "per gram", even though it is the same rate.

For jewellery, the gram is the most practical unit: that is how your items will be weighed during an evaluation. Our homepage displays the gold and silver market rate in Canadian dollars, per gram, ounce and kilo.

Market value and purchase offer: two different things

The spot price is the reference price of pure gold. Your jewellery's market value follows from it: today's rate × the alloy's gold proportion × weight. Our calculator lets you do this math yourself.

A purchase offer is what a buyer actually proposes. It is always below the metal value, because the buyer covers refining, verification and operating costs. The gap between the two varies greatly between buyers — which is exactly what deserves comparison. For more, see our article Where to sell gold jewellery in Montreal?

How to follow the price without being misled

Rely on sources that state the unit (ounce or gram), the currency (USD or CAD) and the update time. Be wary of undated prices: with a metal that moves daily, two-week-old information can be misleading.

And remember: the number displayed online is a reference, not an offer. The only way to know the exact amount for your items is a physical evaluation — weighing and purity verification — done in front of you. At On Achète Or, that evaluation is free and without obligation.