British ColumbiaIt’s not the 19th Century anymore, but that doesn’t mean British Columbia isn’t having a gold rush. One Vancouver gold buyer said it’s seeing about twice as many customers.Vancouver gold buyer said it’s fielding twice as many clients per dayCBC News · Posted: Oct 21, 2025 9:42 PM EDT | Last Updated: 12 minutes agoIn this Tuesday, July 22, 2014, file photo, gold bars are stacked in a vault at the United States Mint, in West Point, N.Y. The price of gold has been climbing in 2025, and one B.C. expert says it’s because central banks are buying up the precious metal. (Mike Groll/The Associated Press)It’s not the 19th Century anymore, but that doesn’t mean British Columbia isn’t having a gold rush.The price of the precious metal has skyrocketed and as people are scramble to cash in, gold buyers are busy.The price has surged as high as $4,300 US per troy ounce (the measurement used when weighing precious metals) in recent weeks after years of gradual growth. Tuesday saw a retreat, however, with a price decline of about five per cent.At the Vancouver location of Canada Gold, staff normally see around 40 clients daily — but these days it’ s not unusual to see 90 or more, according to CEO Tyler Whitmore.“The sheer amount of customers, honestly… I’ve been even helping on desk and that’s not a common thing,” Whitmore said. “If you were to sell something even a couple weeks ago, you’re going to make even more now.“And people, with it continuing to go up, they are selling some of those items just sitting in drawers.”Gold prices have been rising steadily for a year.Werner Antweiler, professor at University of British Columbia’s Sauder School of Business, says it�’s a symptom of economic unease, especially amid tariffs and global conflict.“Gold and silver have — over generations and over millennia — been the go-to for storing value and wealth over time, in times of uncertainty,” Antweiler said.And it’s not just small-time buyers and sellers involved, he added.“It’s central banks. And they are actually purchasing gold in the billions of dollars and that’s really what’s driving up the price, not individuals looking for safe havens for their savings.”Silver is also shining, hitting record highs this month.At Canada Gold on Tuesday, seller Amit Sehgal was trading gold for the second-place metal.“I think silver is the next great commodity and I’ve heard rumours it’s going to go up,” he said.With files from Michelle Ghoussoub and Jenna Benchetrit
Surging gold prices have British Columbians cashing in
