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GOLD PRICE IN BRITISH COLUMBIA — AUGUST 2016

C$1,739.01 avg/oz

During August 2016, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$1,706.37 to C$1,790.43 per ounce, with a monthly average of C$1,739.01. The month opened at C$1,764.70 and closed at C$1,710.30, a loss of C$54.40. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — AUGUST 2016

DateClose (CAD)Change
August 1, 2016C$1,764.70-9.49
August 2, 2016C$1,790.43+25.73
August 3, 2016C$1,777.22-13.21
August 4, 2016C$1,775.88-1.34
August 5, 2016C$1,739.38-36.50
August 8, 2016C$1,757.41+18.03
August 9, 2016C$1,761.49+4.08
August 10, 2016C$1,763.29+1.80
August 11, 2016C$1,752.77-10.52
August 12, 2016C$1,734.42-18.35
August 15, 2016C$1,736.85+2.43
August 16, 2016C$1,745.86+9.01
August 17, 2016C$1,727.16-18.70
August 18, 2016C$1,735.52+8.36
August 19, 2016C$1,712.47-23.05
August 22, 2016C$1,724.51+12.04
August 23, 2016C$1,734.74+10.23
August 24, 2016C$1,711.06-23.68
August 25, 2016C$1,707.07-3.99
August 26, 2016C$1,706.37-0.70
August 29, 2016C$1,721.73+15.36
August 30, 2016C$1,706.52-15.21
August 31, 2016C$1,710.30+3.78

📊 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$1,739.01
Per GramC$55.91
Per KilogramC$55,910.39
Per Pennyweight (1.555g)C$86.95
Per Tola (11.66g)C$652.13

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