If you've ever checked the gold price in the morning and then again in the evening and seen a different number, you might wonder — why does it change? Gold has no factory, no production cost that fluctuates daily. So what actually moves the price?
Understanding what drives gold prices in Canada helps you time when to sell — and ensures you walk into Nawaz Jewellers in Markham knowing exactly what to expect.
The short answer
Gold prices are driven by six key forces: the US dollar/CAD exchange rate, central bank policy, interest rates and inflation, geopolitical events, supply constraints, and market speculation. In 2025, all six have been pushing prices higher — making this one of the best times in history to sell gold in Markham.
What Is the Gold Spot Price?
The gold spot price is the current market price for one troy ounce of pure 24K gold, traded on global commodity exchanges (primarily the COMEX in New York and the London Bullion Market). It is updated continuously during trading hours — essentially every few seconds.
This is the number that reputable gold buyers like Nawaz Jewellers use as the foundation for every offer. Here's how we apply it:
HOW NAWAZ JEWELLERS CALCULATES YOUR PAYOUT
1. Get live spot price (e.g. $4,500 CAD/troy oz)
2. Convert to per gram: $4,500 ÷ 31.1 = $144.70/g
3. Apply karat purity: 14K = 0.583 → $144.70 × 0.583 = $84.35/g
4. Weigh your item: 5 grams
Your melt value = 5 × $84.35 = $421.75 CAD
We pay the highest % of melt value in Markham — fully transparent.
You can see today's live spot price and run your own calculation at nawazjewellers.com/prices.
The 6 Forces That Move Gold Prices in Canada
The US Dollar (USD/CAD Exchange Rate)
Gold is priced globally in US dollars. When you sell gold in Markham, Ontario, the USD price is converted to Canadian dollars at the current exchange rate. When the Canadian dollar is weak against the USD — as it has been in 2024–2025 — Canadian sellers receive more CAD for the same amount of gold. This is one reason why gold prices in CAD have been at record highs, even when USD prices are already elevated.
💡 A weaker CAD = more Canadian dollars for your gold.
Central Bank Buying & Monetary Policy
Central banks around the world — including the Bank of Canada, the US Federal Reserve, and major Asian central banks — hold gold as a reserve asset. When central banks buy large quantities of gold, demand increases and prices rise. In 2024–2025, central bank gold buying has been at the highest levels in decades, which has been a major driver of the price surge.
💡 Record central bank buying = sustained upward pressure on gold prices.
Interest Rates & Inflation
Gold and interest rates have an inverse relationship. When interest rates are low, gold becomes more attractive because holding cash or bonds yields little return. When inflation is high, gold is seen as a 'store of value' that preserves purchasing power. In 2025, while interest rates have moderated from their 2022–2023 peaks, inflation concerns and rate-cut expectations have kept gold demand — and prices — elevated.
💡 Rate cuts and inflation fears both support gold prices.
Geopolitical Events & Global Uncertainty
Gold is known as a 'safe haven' asset — when global uncertainty rises (wars, political instability, financial crises), investors move money into gold, driving prices up. The ongoing geopolitical tensions in 2024–2025 have been a significant contributor to gold's price surge. When the world is uncertain, gold becomes the most trusted store of value.
💡 Global uncertainty = increased demand for gold = higher prices.
Supply & Mining Output
Gold supply is finite and grows slowly. Gold mining output has been relatively flat for years, with easy-to-mine deposits increasingly depleted. Meanwhile, demand from jewellery, technology, investment, and central banks continues to grow. This supply-demand imbalance is a long-term structural support for gold prices.
💡 Limited new gold supply + growing demand = long-term price support.
Market Speculation & ETF Flows
Gold ETFs (Exchange-Traded Funds) allow investors to buy and sell gold exposure without holding physical metal. Large inflows or outflows from gold ETFs can move prices significantly. When institutional investors and fund managers increase their gold allocations, the resulting buying pressure pushes prices higher — and vice versa.
💡 Large ETF buying cycles often precede extended gold price rallies.
Is Now a Good Time to Sell Gold in Markham?
In 2025, gold prices in Canadian dollars are at or near historic highs. Here's why the conditions for selling gold in Markham are exceptionally favourable right now:
No one can predict whether prices will go higher or lower from here. But what we can say with confidence is that Markham gold sellers are receiving exceptional value in 2025. Gold sitting in a drawer earns nothing — turning it into cash at today's prices locks in historic value.
Frequently Asked Questions
What is the gold spot price?
The gold spot price is the current market price for one troy ounce of pure 24K gold, updated continuously during trading hours. Nawaz Jewellers uses the live spot price to calculate every gold payout in Markham.
Why is gold priced in USD in Canada?
Gold is a globally traded commodity priced in US dollars. Canadian sellers receive a payout converted from USD to CAD at the current exchange rate — meaning a weaker Canadian dollar actually benefits gold sellers in Markham.
Does Nawaz Jewellers use the live spot price?
Yes. We calculate all payouts using the live gold spot price, visible at nawazjewellers.com/prices. We show you the exact math: spot price × karat purity × weight. Full transparency.
Is now a good time to sell gold in Markham in 2025?
Yes. Gold prices in Canadian dollars are at or near historic highs in 2025. Multiple factors — USD/CAD rates, central bank buying, geopolitical uncertainty — are all supporting prices. This is one of the best times in recent history to sell gold in Markham.
How often does the gold price change?
The gold spot price changes continuously — essentially every few seconds — during global trading hours (23 hours a day, 5 days a week). It can move significantly in a single day.
See Today's Live Gold Price in Markham
Check the live spot price, calculate what your gold is worth, and then walk into Nawaz Jewellers for your free appraisal and instant cash payout.