Silver prices in Canada surged dramatically last Friday, breaking above C$52.50 per ounce, just days after reaching a 14-year high and signalling renewed investor enthusiasm—especially amid ongoing economic uncertainty.
As of opening yesterday, 24-karat gold traded at approximately C$4,576 /oz — or about C$147.92 per gram — maintaining its position within a narrow range since early July.
Meanwhile, silver has been the standout performer. Spot prices hit a new July high of C$52.64/oz on July 11, setting the stage for last Friday’s spike above C$52.50, before dipping slightly in early trading. This follows earlier milestones in June, when silver closed above C$50 on both June 9 and June 17.
Silver’s rally — up nearly 25 percent year-to-date in Canadian dollars — has been driven by safe-haven investment, industrial demand, and global trade dynamics. In the latest wave, Friday’s spike reflected fresh geopolitical uncertainties and renewed investor inflows. As of yesterday, silver was trading north of C$51.90/oz.
Gold, while less volatile, has hovered between C$4,512 and C$4,597/oz since early July, closing yesterday near C$4,576/oz — supported by ongoing interest-rate speculation and U.S. dollar fluctuations.