Silver and gold are trading at elevated levels in Canadian dollars as 2026 progresses, reflecting continued demand for precious metals amid macroeconomic and geopolitical uncertainty.
As of mid-day Jan. 15, the spot price of silver in Canada sits near $127 an ounce in Canadian funds, a level well above historical norms and a continuation of strength seen in recent weeks. Gold is also trading near record territory in Canadian dollars, at about $6,400 an ounce.
The elevated prices for both metals come amid broader market pressures that have steered investors toward hard assets. Silver’s gains have drawn particular attention due to its dual role as both an industrial commodity and a precious metal, which typically results in greater price volatility compared with gold.
Gold’s strength in Canadian dollars underscores its traditional role as a safe-haven asset. While gold’s advance has been underway for some time, recent commodity rallies and expectations surrounding future interest rate moves have helped keep bullion markets firm.
Market analysts note that currency fluctuations, geopolitical tensions and uncertainty surrounding global economic growth continue to support interest in precious metals. Silver’s sensitivity to both industrial demand and investor sentiment has contributed to its sharper price swings, while gold has remained comparatively steadier.
For bullion holders and collectors watching the markets, the current levels serve as a reminder of the ongoing appeal of precious metals during periods of economic uncertainty.