Key takeaways
- On October 23, 2026, one ounce of gold cost about as much as 74 ounces of silver (prices shown by TD).
- Premiums are higher on silver: about 6.5% on a 1 oz Silver Maple Leaf vs about 2.2% on a 1 oz gold bar at TD that day.
- More than half of silver demand is industrial (solar panels, electronics), so silver’s price often swings more than gold’s.
- For the same money, silver weighs and fills many times more space than gold.
- Gold prices can go down as well as up. Past prices don’t predict future prices.
How much more does gold cost than silver?
A lot more per ounce. The gold-to-silver ratio tells you how many ounces of silver buy one ounce of gold. Late on October 23, 2026, the prices TD showed on its store gave a ratio of about 74. In other words, one ounce of gold cost about the same as 74 ounces of silver.
The ratio moves all the time. You can see today’s prices in Canadian dollars on our silver price page and the live gold rate on this page.
A troy ounce, used for both metals, is 31.1035 grams. Gold is also sold by the gram, by the tola (11.6638 g) and in 10 g units; silver is often sold in 1 oz coins, 10 oz bars, 100 oz bars and 1 kg bars.
Which costs more to buy: gold or silver coins and bars?
The price of a bar or coin is the metal price plus a premium. Silver premiums are higher, because a silver coin is cheap but costs about as much to make and ship as a gold one.
We compared TD’s prices with the metal prices TD showed at the same time (October 23, 2026, TD account pricing):
| Product | Premium over TD’s metal price |
|---|---|
| 1 oz TD gold bar | about 2.2% |
| 1 oz TD silver bar | about 9.3% |
| 1 oz Silver Maple Leaf coin (2026) | about 6.5% |
| 10 oz TD silver bar | about 7.4% |
| 100 oz silver bar | about 5.1% |
| 1 kg TD silver bar | about 6.5% |
Our sums from TD’s pages; premiums change daily. When you sell, a dealer pays less than the selling price, so the round-trip cost is usually bigger for silver too.
Why does the silver price swing more than gold?
Gold is mostly bought as jewellery, bars, coins and by central banks. Silver is used much more in industry. The Silver Institute forecast in February 2026 that industrial demand for silver would be around 650 million ounces in 2026. In April 2026 it forecast total silver demand of 1.11 billion ounces for the year. That means industry takes more than half of all silver.
The Institute said solar panel (PV) demand was slowing, while data centres and electrical uses held up. When factories buy less, silver can fall even if gold holds steady. When they buy more, silver can jump. This is why silver prices often rise and fall faster than gold.
We don’t predict prices. Gold prices can go down as well as up. Past prices don’t predict future prices.
How much space does gold vs silver take?
For the same money, silver takes up far more room. A simple example with round numbers:
- For example, if gold were $150 a gram, $10,000 would buy about 67 g of gold. That fits in your palm.
- With a ratio of 74, the same $10,000 would buy about 4.9 kg of silver. That is a heavy box.
More weight means a bigger safe or safety deposit box, harder travel, and more to insure. If you might move countries again, this matters. See carrying gold from Canada to India for how customs treat metal in your luggage.
Are gold and silver taxed the same way in Canada?
Broadly similar, with one detail on purity. For GST/HST, the Canada Revenue Agency (CRA) uses the term “precious metal” for a bar, ingot, coin or wafer that is at least 99.5% gold or platinum, or at least 99.9% silver. Jewellery, such as karat gold or sterling silver, does not meet this definition, and the CRA says those supplies are generally taxable.
When you sell gold or silver for more than you paid, you may owe tax on the gain. The rules are the same type for both metals. Read our gold tax guide and ask a tax professional about your case.
Gold or silver: how to decide
| If you… | Gold tends to suit | Silver tends to suit |
|---|---|---|
| Have a small budget | Small gold bars, but premiums on 1 g bars are high | 1 oz coins are affordable |
| Want low buying costs | Yes: lower premiums on 1 oz and up | Premiums are higher |
| Have little storage space | Yes | Needs much more room |
| Can live with big price swings | Swings less (but still can fall) | Swings more |
| Want gold for weddings or festivals | Jewellery and coins are the tradition in many families | Silver is a common lower-cost gift |
Many people hold neither, or a little of both. If you want gold in small steps, RemitBee Gold (our sponsor, coming early 2027) plans to sell pure 24K gold from $10. Platinum is a third option; see the platinum price.
Plan a monthly amount with the gold savings planner, and check today’s silver price in Canada.
Common questions
Is gold or silver a better investment?
What is the gold-to-silver ratio today?
Why is silver more volatile than gold?
Is silver taxed differently from gold in Canada?
Sources
- TD Precious Metals: Silver bullion (prices checked Oct 23, 2026)
- TD Precious Metals: Gold bars and rounds (prices checked Oct 23, 2026)
- The Silver Institute: Global silver investment to remain strong in 2026 (Feb 10, 2026)
- The Silver Institute: World Silver Survey 2026 release, total demand forecast (Apr 15, 2026)
- CRA: GST/HST Memorandum 17-1, Definition of financial instrument (precious metals, July 2026)