Canadian coin and bullion dealers tracked modest cooling in precious metals as July closes, with silver and gold settling near elevated levels.
On July 30, silver closed at CA$51.31 per ounce in Canada, down slightly from mid‑month highs above CA$53.30, but still within July’s upper range. Earlier in the month, silver had reached CA$52.64 on July 11 and exceeded CA$50 per ounce during mid‑June, supported by safe‑haven flows, industrial demand and global economic tensions. July’s average silver price landed around CA$51.64, reflecting a strong rally from earlier in the year.
Gold closed at CA$4,555.69 per ounce on July 30, placing it near the lower end of July’s trading band between CA$4,512 and CA$4,665 per ounce. July’s monthly average hovered around CA$4,575, with prices buoyed by a softer U.S. dollar and cautious investor sentiment amid persistent macro uncertainty.
Year to date, silver has gained approximately 23 per cent in Canadian dollars, while gold’s gains have been more moderate. Silver’s march towards levels last seen in 2011 signals a strong upward trajectory for traders in bullion-weight coins and bars.
For dealers, rising bullion prices mean increased inventory value—but also greater exposure to volatility. Shifts in macroeconomic conditions, trade policy or currency markets could quickly impact margins and consumer demand in the numismatic and bullion market.