EXHIBIT 5.2

                    CONSENT OF CASSELS BROCK & BLACKWELL LLP

                  We hereby consent to the reference to our opinions contained
         under "Eligibility for Investment" and "Canadian Federal Income Tax
         Considerations" in the Registration Statement on Form F-10 of Central
         Fund of Canada Limited. In giving this consent, we do not acknowledge
         that we come within the category of persons whose consent is required
         by the U.S. Securities Act of 1933 or the rules and regulations
         thereunder.

                                              /s/ Cassels Brock & Blackwell LLP
         Toronto, Canada
         October 21, 2004