There was a trace of blood found in my urine. is it likely its cancer?

There are many reasons to have a trace of blood in your urine. You could have stones somewhere in your urinary tract that could cause blood. There could be a urinary tract infection so a urine culture would be helpful. You should see a urologist to determine why you have blood in your urine. At your age (58),blood in the urine is not normal so you should see a urologist for diagnosis and treatment

It is only a possibility among many others as mentioned by Dr Ferranti. Given its life threatening potential it has to be ruled out with the understanding that there are many other, more frequent conditions accounting for blood in urine. In practice typically the finding has to be confirmed first with repeat urine studies.

Not necessarily. There are multiple causes of blood in urine, hematuria. Visit this site for information on this topic: https://www.mayoclinic.org/diseases-conditions/blood-in-urine/symptoms-causes/syc-20353432 Wish you good health!