XAU/CAD: what to know
The XAU/CAD rate shows how much CAD you get for 1 XAU. Right now, 1 XAU buys 6,034.54 CAD at the mid-market rate. In the other direction, 1 CAD is worth 0.000165713 XAU.
In the short term XAU is driven mainly by real interest rates, the dollar and safe-haven demand, while CAD responds to oil prices and the US economy.
The code “XAU” combines “X” (supranational) with gold’s chemical symbol Au. 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”.
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.