Gold Prices in August 2026: What July’s Rebound Means for Your Jewellery
Gold has run hard this month. After opening August 2026 near US$4,043 an ounce, it pushed past US$4,400 in the second week and sits around US$4,380 as of August 15 - roughly C$6,076 in Canadian dollars, or about C$195 per gram for pure gold. That is a gain of more than 8% in two weeks and the metal's strongest level since early June. Here is what moved it, and what it means if you own, are buying, or are thinking of selling gold jewellery in London, Ontario.
Where Gold Stands Right Now
As of August 15, 2026, spot gold is trading around US$4,380 per ounce - about C$6,076 at a US/CAD rate near 1.39. The metal opened the month near US$4,043, eased to roughly US$4,020 in the first days of August, then ran to about US$4,404 mid-month before settling slightly lower. That is a gain of roughly 8% month to date and around 31% higher than this time last year, when gold traded near US$3,340. It still sits below the record near US$5,595 set in late January 2026.
What Moved the Price This Month
One number did most of the work: US inflation. July's CPI reading came in line with expectations rather than hot, which pushed markets away from pricing a September rate hike and sent the US dollar lower. Gold pays no interest, so cheaper money and a softer dollar both work in its favour - the metal jumped to a two-month high on that data. Renewed tension in the Middle East added a safe-haven bid, and steady central bank buying continues to sit under the market as a floor. The risk to the rally is the familiar one: if the next inflation print runs hot and rate-hike odds climb back, gold can hand some of this back quickly.
What This Means for Your Jewellery in London
If you are selling: this is the strongest pricing since early June. At roughly C$6,076 per ounce, pure-gold melt value works out to about C$195 per gram - roughly C$81 per gram for 10K, C$114 for 14K and C$147 for 18K, before any buyer's margin. Broken chains, single earrings, mismatched pieces and dated gold sitting in a drawer are worth meaningfully more than they were two weeks ago.
If you are buying or commissioning: metal costs more this month than last, so a heavier piece, a ring sized up, or gold added to a custom design will quote higher than it would have on August 1. Gold is still well below January's peak, but quotes are struck at the day's market rate, so timing matters on larger jobs.
Quotes Change Daily - Get Yours in Person
With the market moving this fast, any number you read online (including this one) ages quickly. At Daniel A Jewellery (467 Wharncliffe Road South, London) we weigh and test your gold in front of you and quote from that day’s market price - free, with no obligation. The same applies to custom work and resizing: the quote is locked to the day you approve the job.
Frequently Asked Questions
What is the gold price in Canada today?
As of August 15, 2026, spot gold is about C$6,076 per troy ounce (US$4,380), or roughly C$195 per gram for pure gold. It moves by the minute during trading hours, so treat any published figure as a snapshot.
Do jewellers pay the full spot price for gold?
No. Spot is the benchmark for refined, pure gold. Buyers price by karat and weight, minus a margin for refining and handling - a fair shop weighs your pieces in front of you and shows you the math.
Is now a good time to sell gold jewellery?
Gold has climbed more than 8% so far this month and sits about 31% above where it was a year ago, so scrap and unworn pieces carry strong value right now. The right time still depends on your needs - bring it in for a free, no-obligation quote and decide with the numbers in front of you.
Spot prices referenced are as of August 15, 2026 and will have moved since. This article is general information about the gold market, not financial advice.