Canada has the world’s 9th largest gold reserves, and they are currently the world’s 5th largest producer. Not many people think or associate Canada with gold, but to give you an idea of how big of a deal gold in Canada is, keep reading below.
Where Can You Find Gold in Canada?
The province of Ontario and Quebec is one of the best places to dig for gold as there are many rich deposits in the rich gold-bearing bedrock. These two provinces hold more than 75% of Canada’s gold production. Then there is Nunavut and British Columbia, which cover about 16%, while Saskatchewan, Manitoba, Nova Scotia, Yukon, Newfoundland, and Labrador have the 9% distributed among them.
How Much Gold Does Canada Produce?
In the year 2019, Canada produced about 175 tonnes of gold. This means Canada handled about 5.3% of the total global gold production and made them the fifth-largest gold producer globally.
That same year, Canada earned about $22.3B, which is a 28.9% increase from the following year of $17.3B just from gold exports. This shows how big of an industry the gold mining industry is in Canada.
Canada has continued to make an effort to encourage and enhance its gold mining industry. And this could only mean more employment opportunities for people and more revenue for the government.
What is the Price of Gold in Canada?
The price of gold for the last year has been steadily increasing. However, the price of gold in 2019 has experienced a slight variation, especially in the first half of the year. There was a drop in the price in April and May, but it quickly recovered after that and just steadily increased.
To this day, gold prices in Canada continue to rise. It shows how valuable the industry is to this day and with more people continuing to support it. It is an industry worth investing in for Canada, and the government continues to be well aware of that.
How to Buy Gold in Canada?
There are many ways to get and buy gold in Canada, but the first step is to know the price of gold and understand its value. Another step is to know and understand the regulations and laws in the country. Buying and selling gold in Canada is not that hard, but you have to know about buying and sales taxes.
You also have to know where to sell and buy gold. You can visit a local gold store, or you can sell and buy gold online. Another important thing you need to know is how to make sure that you are getting the right gold items. This is because there are many fake gold items out there. You can easily find a local gold store near you. All you have to do is educate yourself on the gold values and offerings of that specific store.
You can also buy gold online. The thing with buying gold online is that you have to trust the seller, and the seller has to trust you. Make sure to find a reputable seller with good reviews to avoid being scammed.
Conclusion
It is clear and evident that the gold mining industry in Canada is a booming business. It is a great business to invest in, considering the value of gold and the price of gold in Canada. However, you need to ensure that you are doing it the right way to avoid getting scammed. And before you decide to buy gold from anyone, be sure to research them first to find out if they are legitimate and have good reviews.
To learn more about gold exploration in Canada, you can contact Janet Sheriff. Janet is an innovative entrepreneur with experience in strategic planning and management who is there to give her share of experience to new ventures, especially those in the mining sector. Get in touch with Janet Sheriff.
