Gold Prices in September 2026: What August’s Rally Means for Your Jewellery
Gold enters September 2026 near US$4,432 an ounce - about C$6,169 in Canadian dollars, or roughly C$198 per gram for pure gold. August was a strong month: the metal opened near US$4,043, ran above US$4,600 in the final week, then gave back more than 3% in a single session after hawkish comments from the Fed. Net of it all, gold finished August up close to 10% and sits about 28% above where it was a year ago. 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 September 1, 2026, spot gold is trading around US$4,432 per ounce - about C$6,169 at a US/CAD rate near 1.39. That works out to roughly C$198 per gram for pure gold. Gold closed August at about US$4,451 after a month that ran from a low near US$4,020 in the first days to a high above US$4,600 on August 27. The month’s gain was close to 10% - the strongest monthly move since January’s record run - and the metal is around 28% higher than this time last year. Prices have cooled off the highs in the past few sessions but remain near the top of the 2026 range.
What Moved the Price This Month
Two forces pulled in opposite directions through August. Cooler US inflation data mid-month knocked back rate-hike odds and pushed the US dollar lower, and gold - which pays no interest - rallied hard on it, adding roughly 15% off its mid-July low. Renewed tension in the Middle East added a safe-haven bid, and steady central bank buying continues to sit under the market as a structural floor. Then Fed Chair Kevin Warsh used his Jackson Hole appearance to restate that policymakers will bring inflation back to 2%. Traders moved to pricing better-than-even odds of a rate hike at the September meeting, and gold dropped more than 3% in a single session. That meeting later this month is the next real test for the price.
What This Means for Your Jewellery in London
If you are selling: at roughly C$6,169 per ounce, pure-gold melt value works out to about C$198 per gram - roughly C$83 per gram for 10K, C$116 for 14K and C$149 for 18K, before any buyer’s margin. That is up from about C$195 per gram in mid-August and well above where the market sat in July. Broken chains, single earrings, mismatched pieces and dated gold sitting in a drawer are worth meaningfully more than they were at the start of the summer.
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. Quotes are struck at the day’s market rate, so timing matters on larger jobs - and with a Fed decision mid-month, September can move either way.
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 in 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 September 1, 2026, spot gold is about C$6,169 per troy ounce (US$4,432), or roughly C$198 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 gained close to 10% in August and sits about 28% 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 September 1, 2026 and will have moved since. This article is general information about the gold market, not financial advice.