{"id":21081,"date":"2026-10-10T06:24:50","date_gmt":"2026-10-10T05:24:50","guid":{"rendered":"https:\/\/metalsradar.com\/glossary\/spot-price\/"},"modified":"2026-10-10T06:24:50","modified_gmt":"2026-10-10T05:24:50","slug":"spot-price","status":"publish","type":"page","link":"https:\/\/metalsradar.com\/ca\/glossary\/spot-price\/","title":{"rendered":"Spot Price"},"content":{"rendered":"<div class=\"mrf-gl\"><p class=\"gl-def\">The spot price is the current wholesale price for one troy ounce of gold, silver or platinum for immediate delivery, set by trading in large bars between banks and dealers. It is quoted in US dollars and converted into CAD.<\/p><aside class=\"panel gl-live\"><p class=\"gl-live-h\">\ud83c\udde8\ud83c\udde6 Today in Canada<\/p><div class=\"gl-row\"><span>Gold, 1 troy ounce (spot)<\/span><b>5,970 CAD<\/b><\/div><p class=\"gl-src\">Data as of 10.10.2026, updated daily.<\/p><a class=\"btn primary\" href=\"https:\/\/metalsradar.com\/ca\/cheapest-gold-coins\/\">Compare gold coin prices \u203a<\/a><\/aside><div class=\"gl-body\"><h2>Where the spot price comes from<\/h2><p>Spot is not set by any one company. It reflects continuous trading in the global over-the-counter market centred on London, where banks deal in 400 oz <a href=\"lbma}}\">Good Delivery<\/a> bars, and in futures markets such as COMEX in New York and the Shanghai Gold Exchange. Prices are quoted in US dollars per <a href=\"troy-ounce}}\">troy ounce<\/a> and update every few seconds on weekdays.<\/p><p>Separately, the LBMA Gold Price is set twice a day by auction in London, at 10:30 and 15:00 London time, and the LBMA Silver Price once a day. In Toronto or Ottawa that is usually 5:30 and 10:00 Eastern time. These are reference prices used in contracts, not the live quote dealers watch through the day.<\/p><h2>Spot in Canadian dollars<\/h2><p>Because the market prices in USD, the CAD spot price is the USD price divided by the number of US dollars one Canadian dollar buys. Fixed-number example: if gold were 3,000 USD per ounce and one Canadian dollar bought 0.73 USD, CAD spot would be 3,000 \/ 0.73 = 4,110 CAD per ounce. If the loonie weakened to 0.70, the same USD price would become 4,286 CAD. So a weaker Canadian dollar lifts the local gold price, and a stronger one lowers it, even when the USD price is unchanged.<\/p><p>The Bank of Canada publishes one set of exchange rates each business day, by 16:30 ET. They are indicative averages, useful for records and comparisons; live dealer prices move with the market through the day. Watch the live <a href=\"\/ca\/charts\/gold-price\/\">gold price chart in CAD<\/a> and the <a href=\"\/ca\/charts\/silver-price\/\">silver price in CAD<\/a> to see both effects.<\/p><h2>Why you cannot buy at spot<\/h2><p>Spot is the price for wholesale bars traded between institutions. A retail coin or small bar has to be fabricated, assayed, packed, insured and shipped, and the dealer needs a margin. That cost is the <a href=\"premium}}\">premium over spot<\/a>. On top, dealers buy back below spot or close to it, which creates a <a href=\"spread}}\">bid-ask spread<\/a>.<\/p><ul><li>Large bars (1 kg) trade nearest to spot.<\/li><li>1 oz bullion coins such as the Gold Maple Leaf carry a moderate premium.<\/li><li>Fractional coins and silver carry the highest premium in percentage terms.<\/li><\/ul><p>The useful question is not \"what is spot?\" but \"how far above spot is the final delivered price?\". That is what our ranking of the <a href=\"\/ca\/cheapest-gold-coins\/\">cheapest gold coins in Canada<\/a> answers, with shipping included.<\/p><\/div><h2>Related terms<\/h2><p class=\"gl-chips\"><a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/ca\/glossary\/premium-over-spot\/\">Premium Over Spot<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/ca\/glossary\/bid-ask-spread\/\">Bid-Ask Spread<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/ca\/glossary\/lbma-good-delivery\/\">LBMA Good Delivery<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/ca\/glossary\/troy-ounce\/\">Troy Ounce<\/a><\/p><section class=\"mrf-faq\"><h2>FAQ<\/h2><div class=\"faq-list\"><details open><summary><h3>What is the gold spot price in CAD?<\/h3><\/summary><div class=\"a\"><p>It is the USD spot price per troy ounce converted at the current CAD\/USD exchange rate; our live chart shows it in CAD.<\/p><\/div><\/details><details><summary><h3>Why is the price of gold different at every dealer?<\/h3><\/summary><div class=\"a\"><p>Each dealer adds its own premium over spot to cover minting, shipping and margin, so final prices differ even when spot is the same.<\/p><\/div><\/details><details><summary><h3>Does the Bank of Canada set the gold price?<\/h3><\/summary><div class=\"a\"><p>No. The Bank of Canada publishes indicative exchange rates once each business day; the gold price itself comes from global trading in US dollars.<\/p><\/div><\/details><\/div><\/section><details class=\"gl-src-list\"><summary>Sources<\/summary><ul><li><a href=\"https:\/\/www.lbma.org.uk\/prices-and-data\/precious-metal-prices\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: Precious metal prices<\/a><\/li><li><a href=\"https:\/\/www.lbma.org.uk\/good-delivery\/about-good-delivery\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: About Good Delivery<\/a><\/li><li><a href=\"https:\/\/www.bankofcanada.ca\/rates\/exchange\/daily-exchange-rates\/\" rel=\"nofollow noopener\" target=\"_blank\">Bank of Canada: Daily exchange rates<\/a><\/li><\/ul><\/details><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":0,"parent":21075,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"class_list":["post-21081","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/metalsradar.com\/ca\/"},"comment_info":0,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/pages\/21081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/comments?post=21081"}],"version-history":[{"count":0,"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/pages\/21081\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/pages\/21075"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/ca\/wp-json\/wp\/v2\/media?parent=21081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}