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GOLD PRICE IN ALBERTA — DECEMBER 2023

C$2,728.80 avg/oz

During December 2023, gold dealers serving Alberta based pricing on CAD spot prices ranging from C$2,685.46 to C$2,807.55 per ounce, with a monthly average of C$2,728.80. The month opened at C$2,807.55 and closed at C$2,728.47, a loss of C$79.08. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Alberta.

DAILY PRICES — DECEMBER 2023

DateClose (CAD)Change
December 1, 2023C$2,807.55+37.73
December 4, 2023C$2,730.25-77.30
December 5, 2023C$2,732.85+2.60
December 6, 2023C$2,759.65+26.80
December 7, 2023C$2,759.00-0.65
December 8, 2023C$2,717.41-41.59
December 11, 2023C$2,686.28-31.13
December 12, 2023C$2,685.46-0.82
December 13, 2023C$2,692.95+7.49
December 14, 2023C$2,742.41+49.46
December 15, 2023C$2,709.69-32.72
December 18, 2023C$2,711.51+1.82
December 19, 2023C$2,731.01+19.50
December 20, 2023C$2,712.84-18.17
December 21, 2023C$2,723.87+11.03
December 22, 2023C$2,732.63+8.76
December 26, 2023C$2,727.12-5.51
December 27, 2023C$2,747.11+19.99
December 28, 2023C$2,737.96-9.15
December 29, 2023C$2,728.47-9.49

📊 Gold Market Analysis

For Canadian investors, understanding the relationship between the USD/CAD exchange rate and gold pricing is essential. A weakening Canadian Dollar amplifies gold returns in CAD terms, while a strengthening CAD can dampen returns even when USD-denominated gold rises. Gold has historically outperformed during periods of negative real interest rates — when inflation exceeds the Bank of Canada's overnight rate. Canadian investors use gold as a hedge against purchasing power erosion, particularly when CPI exceeds 3%. The correlation between gold and the inverse of real rates makes it a strategic allocation in balanced portfolios.

❓ Frequently Asked Questions

❓ Is gold taxed in Canadian provinces?

Investment-grade gold bullion (99.5%+ purity) is exempt from GST/HST in all Canadian provinces under the federal Excise Tax Act. However, provincial policies may vary for numismatic coins, gold jewelry, and gold items below the purity threshold.

❓ Does provincial tax rate affect gold investment returns?

While GST/HST-exempt gold itself is unaffected by provincial tax rates, the marginal tax rate in your province affects capital gains taxes when selling gold. Provinces with lower marginal rates provide a slight advantage for non-registered gold profits.

❓ What about capital gains tax on gold?

Gold sold at a profit outside registered accounts (RRSP/TFSA) triggers capital gains tax in all provinces. In Canada, 50% of the gain is included in taxable income at your marginal rate. Keep purchase receipts for adjusted cost base calculations.

💡 Canadian Gold Investor Guide

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,728.80
Per GramC$87.73
Per KilogramC$87,732.83
Per Pennyweight (1.555g)C$136.44
Per Tola (11.66g)C$1,023.30

📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides