How to Invest in Gold in Canada

Last reviewed: 31 October 2026.

Canadians can own gold in several ways: bars and coins at home, bullion inside an RRSP or TFSA, or funds and shares. This guide compares them using CRA rules and the published terms of the companies involved.

Below we set out each option, what it costs and how it is taxed, so you can decide which fits you.

We earn a commission if you buy from Silver Gold Bull through links on this page. It does not change the price you pay.

Quick Facts About Canadian Gold Investment

Method	Minimum	Tax Benefits	Complexity
Physical gold	Set by the seller	No GST/HST on gold of 99.5% purity or more	Simple
Gold in an RRSP or TFSA	Set by the dealer (US$1,000 at Silver Gold Bull)	Tax-deferred (RRSP) or tax-free (TFSA) growth	Moderate
Gold ETFs and mining shares	Price of one unit or share	Can be held in an RRSP or TFSA	Simple

Why Consider Investing in Gold in Canada

Canadian investors have the advantage of unique circumstances when it comes to precious metals investments.

Here are just some of the advantages:

Strong precious metals infrastructure
No GST/HST on pure gold
RRSP-eligible options
International market access
Professional storage availability

In Canada, gold bars, ingots, coins and wafers that are at least 99.5% pure are exempt from GST/HST, and qualifying bullion can be held in an RRSP or TFSA.

Your first decision is whether you want metal you hold yourself or bullion inside a registered account. This choice affects everything from dealer selection to tax treatment.

Main Investment Methods

These are the main ways Canadians invest in gold.

1. Physical Gold Ownership

Direct ownership offers the most control.

This gives you:

Immediate access to your metals
No counterparty risk on metal you hold yourself. Stored metal depends on the vault and the dealer.
Various storage options
GST/HST exemption (on pure gold)

Where to buy: banks (CIBC, RBC, TD), dealers on the Royal Canadian Mint’s dealer list, and online dealers such as Silver Gold Bull, a Calgary-based dealer that ships insured across Canada. We earn a commission on Silver Gold Bull sales through our links.

2. Gold RRSPs/TFSAs

Holding bullion in a registered account can make sense for long-term investors, but storage fees and the CRA’s product rules apply.

Keep the following in mind:

Tax-deferred growth advantages (through RRSP)
Tax-free gains (through TFSA)
CRA rules apply: coins must be Royal Canadian Mint legal tender of at least 99.5% gold, bars must come from a refiner accredited by the London Bullion Market Association, and the metal must be bought from the Mint or refiner or from a bank, trust company, credit union, insurer or registered securities dealer. The plan’s custodian holds it in a vault.
Regulated custody

Questrade lets you hold physical metals in registered accounts. Silver Gold Bull is one dealer that places orders for Questrade account holders. We earn a commission if you sign up through our links. Ask for the storage rate in writing before you buy.

3. “Paper” Gold Options

You can also get exposure to gold without holding metal yourself: through funds, shares, certificates or futures.

Examples of paper gold options include:

Gold exchange-traded funds (ETFs)
Mining stocks
Certificates
Gold futures

Here are the advantages and disadvantages of the most popular options.

Type	Advantages	Disadvantages
ETFs	Easy trading	No physical metal
Mining Stocks	Growth potential	Company risk
Certificates	Simplicity	Counter-party risk

Some investors hold a little metal at home and keep the rest in a registered account. The right mix depends on your tax situation and how much you want to pay for storage.

Physical Gold Buying Guide

Here is how buying physical gold works in Canada, step by step.

Types of Gold Products

The most popular products include:

Product	What to know
Gold Maple Leafs	Widely known, can qualify for an RRSP or TFSA
Gold bars	Lower premium per ounce on larger sizes
Small bars and fractional coins	Higher premium per gram
Foreign bullion coins	Usually a higher premium in Canada

Premiums change daily and differ by seller, so compare live prices.

Where to Buy in Canada

Banks and local dealers sell bullion, as do online dealers such as Silver Gold Bull, which offers:

Headquarters in Calgary
National shipping network
Full insurance coverage
Price matching on phone orders
Multi-product selection

According to its help centre, checked October 2026, Silver Gold Bull ships free on orders over $999 and charges a flat $19.95 below that. It matches a reputable competitor’s all-in price on phone orders placed before you order. Compare its all-in price with a local shop’s before you decide.

If you are weighing a gold RRSP or TFSA, Silver Gold Bull’s registered savings page has a contact form. When you submit it, you share your name, email and phone number, and a sales representative will call. We earn a commission if you buy through our links.

Pricing Considerations

What affects your final cost:

Spot price (base price)
Product premium
Payment method
Purchase volume
Shipping insurance

Example: on a large order such as a 500-coin box of Silver Maple Leafs, a small difference in premium per coin adds up. Compare the all-in price, shipping included, from an online dealer and a local shop.

RRSP Gold Investment Step-by-Step Process

Here are the steps for holding physical gold in an RRSP or TFSA, based on the published process at Questrade and Silver Gold Bull.

Step 1: Open Questrade Account

Go here to sign up.

A self-directed registered account such as an RRSP, TFSA or FHSA
Silver Gold Bull sets a US$1,000 minimum purchase for its registered program, with exceptions
Basic documentation needed

Step 2: Silver Gold Bull Integration

Contact Silver Gold Bull through its registered savings page or by phone. Its help centre says you will need to sign a Dealer Authorization Form so it can place orders in your Questrade account.

Steps they’ll walk you through:

Completing dealer authorization
Linking accounts
Selecting storage options
Choosing eligible products (ties into next step)

Step 3: Choose Eligible Products

Silver Gold Bull, or your elected dealer, will be able to help advise on this step.

Silver Gold Bull’s help centre says registered-account products must be 99.99% gold or 99.9% silver from producers approved by the London Bullion Market Association, such as the Royal Canadian Mint or the Perth Mint. Available products depend on stock, and the minimum purchase is US$1,000. Ask the dealer for the current list when you call.

Fee Structure Breakdown

What you’ll actually pay:

Commission: US$19.95 per order at Questrade, and more than one may apply if you buy different metals
Dealer premium: included in the price the dealer quotes you
Storage: Silver Gold Bull’s help centre says 1% a year, billed monthly. Questrade’s own page lists 0.6% a year for pooled gold, 0.9% for pooled silver and 1.5% for segregated storage, so ask which rate applies to you
Currency: metals are priced in US dollars, so budget for conversion
Account fees: Questrade says it charges no account opening, closing or annual RRSP or TFSA fees
Taking delivery later: US$75 service fee plus shipping and insurance (Questrade, checked October 2026). Taking metal out of an RRSP is taxed as a withdrawal

Whether the tax benefit outweighs a yearly storage fee depends on your tax rate, the account type and how long you hold. Run the numbers before you choose.

Tax Considerations for Canadian Gold Investors

Next, let’s clarify exactly what you need to know about gold investment taxation.

Direct Purchase Tax Rules

The benefits of investing in pure metals:

No GST/HST on pure gold (99.5%+)
No GST/HST on qualifying silver
Tax only when you sell, usually as a capital gain
No yearly reporting for gold held in Canada. If you hold precious metals outside Canada that cost more than $100,000 in total, you must file Form T1135 with your tax return each year.

RRSP and TFSA Compared

Here is how buying gold directly compares with holding it in an RRSP or TFSA.

Benefit	Bought directly	In an RRSP	In a TFSA
Contribution	No deduction	Deductible within your RRSP limit	Not deductible
Growth	Taxed when you sell	Tax-deferred	Tax-free
Withdrawal	Capital gain on sale	Taxed as income, with tax withheld	Tax-free
Delivery of the metal	Yours to hold	Counts as a withdrawal	Counts as a withdrawal

Record Keeping Requirements

Be sure to keep all your purchase receipts, storage certificates, insurance documents, transaction records and annual statements.

Capital Gains Reporting

When you sell physical gold at a profit, half of the gain is usually taxable as a capital gain. The government cancelled the proposed increase to that rate in March 2025. Your adjusted cost base includes the premium and other buying costs, and selling costs reduce the gain. If you buy and sell often, the CRA may treat the whole gain as income. Ask a tax professional.

For reporting purposes, it’s advised that you keep proof of the purchase price and document selling costs.

Security & Storage Options for Canadian Gold

Here are the main storage choices and what each one costs and covers.

Professional Storage Solutions

What Silver Gold Bull and Questrade publish about storage:

Silver Gold Bull’s storage program uses Brink’s vaults in several countries.
Registered-account metal is held in a vault in Canada chosen through Questrade: the Royal Canadian Mint, IDS Canada or Brink’s.
Segregated storage, where your metal is kept apart from everyone else’s, is available at a higher fee.
Silver Gold Bull says stored metal is insured for its full value.

Here is how these options compare with bank boxes and home storage.

Comparison of Options

Feature	Professional	Bank Box	Home Storage
Insurance	Covered by the vault’s policy	Usually not insured by the bank, so check your home policy	Check your home policy
Access	View online. Delivery by courier or visit by appointment	During bank hours	Immediate
Records	Statements from the vault or broker	Your own receipts	Your own receipts
Cost	About 0.6% to 1.5% of value a year	Yearly box rental	Safe and insurance
Main risk	Fees and reliance on the provider	Limited access, uninsured contents	Theft, fire, loss

Home Storage Considerations

While tempting for cost savings, consider:

Insurance limitations
Security requirements
Access restrictions
Disaster risks
Proof of ownership

Warning: Before you keep gold at home, ask your insurer in writing whether your policy covers bullion and coins, and up to what amount. Many policies limit or exclude them.

Making Your Decision: The Right Gold Investment for Canadians

Your best option depends on your goals.

1) Tax-advantaged growth:

Professional storage in a Canadian vault
Regular contribution schedule
Tax-deferred growth

Next step: compare registered-account options. Bullion at Questrade, bought through dealers such as Silver Gold Bull, and bank gold certificates, such as CIBC’s e-Certificates, can both be held in registered accounts.

2) Direct ownership:

Competitive premiums
Insured shipping
Full documentation

Next step: compare the all-in price at a bank, a dealer on the Royal Canadian Mint’s list, and an online dealer such as Silver Gold Bull.

How to Get Started Investing in Gold in Canada Today

If you’re ready to get started today, take the following steps:

For RRSP Investment:

Open Questrade account
Contact Silver Gold Bull
Complete authorization
Begin metal selection

For Direct Purchase:

Create online account
Choose products
Select shipping/storage
Complete purchase

If you are new to this, a single 1 oz coin or bar is a simple way to learn how pricing, delivery and storage work. Silver Gold Bull, an affiliate partner, offers both direct purchases and a registered program, and so do several banks.

Updated 31 October 2026: this guide previously said Silver Gold Bull ships free on orders over $99, that a gold RRSP at Questrade has a setup fee and a US$1,000 account minimum, and that gold owners have no yearly tax reporting. It now gives the $999 free-shipping threshold, Questrade’s published fees, Silver Gold Bull’s own US$1,000 purchase minimum and the Form T1135 rule for gold held outside Canada.