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GOLD PRICE IN BRITISH COLUMBIA — DECEMBER 2020

C$2,383.31 avg/oz

During December 2020, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$2,331.70 to C$2,424.66 per ounce, with a monthly average of C$2,383.31. The month opened at C$2,356.88 and closed at C$2,413.83, a gain of C$56.95. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — DECEMBER 2020

DateClose (CAD)Change
December 1, 2020C$2,356.88+51.56
December 2, 2020C$2,361.18+4.30
December 3, 2020C$2,372.63+11.45
December 4, 2020C$2,361.81-10.82
December 7, 2020C$2,379.31+17.50
December 8, 2020C$2,395.00+15.69
December 9, 2020C$2,351.26-43.74
December 10, 2020C$2,351.48+0.22
December 11, 2020C$2,343.76-7.72
December 14, 2020C$2,331.70-12.06
December 15, 2020C$2,363.59+31.89
December 16, 2020C$2,357.17-6.42
December 17, 2020C$2,405.61+48.44
December 18, 2020C$2,400.68-4.93
December 21, 2020C$2,407.37+6.69
December 22, 2020C$2,399.18-8.19
December 23, 2020C$2,417.11+17.93
December 24, 2020C$2,414.83-2.28
December 28, 2020C$2,410.25-4.58
December 29, 2020C$2,413.53+3.28
December 30, 2020C$2,424.66+11.13
December 31, 2020C$2,413.83-10.83

📊 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

Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.

Portfolio Allocation: Most Canadian financial planners recommend allocating 5–15% of a diversified portfolio to gold and precious metals. This allocation provides downside protection during equity bear markets while maintaining growth potential during inflationary periods.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,383.31
Per GramC$76.63
Per KilogramC$76,625.08
Per Pennyweight (1.555g)C$119.17
Per Tola (11.66g)C$893.74

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