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How to Buy Gold in Canada (June 2024)

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Buying or trading gold in Canada is continuing to grow in popularity with traders both new and experienced. Traders recognize the value in this safe-haven precious metal and the importance of keeping a diversified portfolio especially during times of uncertainty in the global outlook.

If you are interested in buying gold in Canada then we have a great selection of brokers below for you to choose from as well as some helpful information to make sure you keep on the right track when buying gold.

Important Considerations When Buying Gold in Canada

Broker Reputation: First and foremost you want to make sure you are dealing with a reputable broker. Strong indicators here can include the length of time they have been operating, positive reviews from a large pool of users, and any other professional accreditations they are holding. All of the brokers we have selected are among the most trusted in the country.

Fees & Security: Double-checking the fees, not only the spread on trading but most importantly any storage fees are very important to your bottom line. Local storage in Canada is beneficial and means you can even see your physical holdings in many cases.

Taxes and Regulations: Being fully aware of your tax liabilities and any other local regulations is also very important. In Canada as with many other countries, there are favorable tax terms in place on investment-grade gold that we will look at in more detail below.

 Best Places to Buy Gold in Canada

1. BullionStar

BullionStar is among the most trusted names in the industry anywhere in the world. BullionStar is based in Singapore where they run a hugely transparent operation facilitating your investment in over 1,000 different products across 10 categories including not only gold bars but coins and more though they do hold a good reputation among Canadian traders and others around the world

They can provide a completely tax-free environment for your gold bullion purchases thanks to the tax and reporting-free environment in Singapore, while also facilitating your 24/7 online access to your holdings from Canada and other jurisdictions. These holdings are also fully insured and held in the most secure physical storage that is certified and regularly audited. BullionStar will also send you pictures of your holdings or you can view them in person at their physical location in Singapore.

Their spread on trading gold and other precious metal products is extremely low while storage fees start from only 0.09% per annum with a daily minimum fee of 0.19 SGD. You can also keep cash as well as gold and commodities on your account at BullionStar to take advantage of online trading at any time. The broker also has impeccable financial records that they make available transparently on a regular basis.

2. is another extremely popular broker choice if you are looking to buy gold or other precious metals in Canada. The broker is backed by a highly experienced team and is UK-based having been around since 2011. They are though kept very accessible to traders from Canada and other countries around the world. They are also one of the top brokers to offer secure storage in Canada which is also ideal if you would like to be close at hand to your holdings.

Alongside competitive pricing on gold and the other assets they offer, the broker is able to provide you with direct and certified ownership of the gold in your own name and without any intermediaries. This makes the process extremely smooth and user-friendly particularly if you are new to buy or trading gold.

The fees here are remain competitive also. They have a sliding scale in place that varies depending on the size of your gold holdings with charges ranging from 0.95% for more than 4,500 ounces, to 1.5% on anything below $20,000 in value. The minimum investment here is $5,000 and they also provide a very useful and competitive buyback service as well as shipping capabilities.

3. Bullion Vault

Bullion Vault is another top choice if you are looking for an industry name to buy gold in Canada. The company was founded in 2003 and has risen to become one of the most high-volume gold trading and storage services in the world with vault locations in several countries.

As well as being able to trade from around the world in gold, silver, and other precious metals, Bullion Vault also allows you to hold an account and automatic gold investment plan that you can set up to make regular purchases at some of the best prices offered through their service.

They are known as one of the most secure for physical storage around the world, and all of your funds that are not yet invested are also kept in a segregated top-tier bank account, that along with your precious metal holdings, is fully insured. Commission on purchases starts from 0.5% on the first $75,000 of gold which drops on a sliding scale with higher purchases. Storage fees are 0.12% on your stored gold per year. This is billed on a monthly basis.

Canada Gold Tax Regulations

In Canada, you will be pleased to find that there is no goods and services tax (GST) imposed on gold bullion, coins, or other products as long as they meet the definition of investment grade. This means a purity of at least 99.5% which any gold purchased through a reputed broker should match or exceed.

Capital Gains Tax in Canada though is something to consider. Depending on your other incomes, this can get as high as 50% which has the potential to be quite high. If you have concerns you should always consult a tax professional first.

If you do want to buy gold in Canada though you will have no shortage of well-trusted brokers to choose from with some even offering physical storage in the country too which can be a great bonus.

Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world. A keen trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.