CAD/XAU: what to know
The CAD/XAU rate shows how much XAU you get for 1 CAD. Right now, 1 CAD buys 0.000165754 XAU at the mid-market rate. In the other direction, 1 XAU is worth 6,033.05 CAD.
In the short term CAD is driven mainly by oil prices and the US economy, while XAU responds to real interest rates, the dollar and safe-haven demand.
The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”. The code “XAU” combines “X” (supranational) with gold’s chemical symbol Au.
Because this pair involves a precious metal, the rate reflects global bullion prices per troy ounce. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.