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Gold is surging as Canada, a leading producer, has none. Is it time to buy?
Gold prices have hit a record high, and central banks around the world are rushing to stockpile the metal. But Canada, which mines billions of dollars’ worth of gold each year, holds none in its reserves. Zero. It’s the only G7 country with an empty vault. There’s no need for it, according to the Department of Finance. The department says official reserves are meant to aid and protect the external value of the Canadian dollar, and Canada has been able to achieve that goal without the metal. Gold is trading over US$4,200 per ounce this week. The Department of Finance explained to BNN Bloomberg that if the ... (full story)
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From thisismoney.co.uk | Oct 16, 2025
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