Along with the currencies of most other commodity-exporting countries, the Canadian dollar has been in near-freefall lately.
Gold, meanwhile, has been sucked down with the rest of the commodities complex, falling hard since 2013. But only in US dollars. For Canadians, with their weak domestic currency, gold has been behaving just fine. It’s up 25% in C$ terms over the past 17 months.
Protection from currency trouble is why people own it, and why in the vast majority of places its owners are very happy.
For an excellent review of the Gold Market be sure to read Clive Maund’s Gold Market Update – Money Talks Ed