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GOLD PRICE IN BRITISH COLUMBIA — SEPTEMBER 2006

C$667.51 avg/oz

During September 2006, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$645.28 to C$709.37 per ounce, with a monthly average of C$667.51. The month opened at C$689.46 and closed at C$668.58, a loss of C$20.88. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — SEPTEMBER 2006

DateClose (CAD)Change
September 1, 2006C$689.46-1.72
September 4, 2006C$691.09+1.63
September 5, 2006C$709.37+18.28
September 6, 2006C$700.33-9.04
September 7, 2006C$684.93-15.40
September 8, 2006C$681.84-3.09
September 11, 2006C$661.69-20.15
September 12, 2006C$657.15-4.54
September 13, 2006C$659.56+2.41
September 14, 2006C$647.72-11.84
September 15, 2006C$645.28-2.44
September 18, 2006C$654.84+9.56
September 19, 2006C$650.11-4.73
September 20, 2006C$654.24+4.13
September 21, 2006C$651.42-2.82
September 22, 2006C$657.59+6.17
September 25, 2006C$658.74+1.15
September 26, 2006C$658.12-0.62
September 27, 2006C$663.96+5.84
September 28, 2006C$671.79+7.83
September 29, 2006C$668.58-3.21

📊 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

Physical vs Paper Gold: Physical bullion (bars, coins) provides tangible ownership with no counterparty risk, ideal for long-term holdings. ETFs (CGL.TO, MNT.TO) offer convenience for trading and rebalancing. A combination of both can optimize for both security and flexibility.

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$667.51
Per GramC$21.46
Per KilogramC$21,460.91
Per Pennyweight (1.555g)C$33.38
Per Tola (11.66g)C$250.32

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