Home›Provinces›British Columbia›February 2021

GOLD PRICE IN BRITISH COLUMBIA — FEBRUARY 2021

C$2,292.94 avg/oz

During February 2021, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$2,179.12 to C$2,382.23 per ounce, with a monthly average of C$2,292.94. The month opened at C$2,382.23 and closed at C$2,179.12, a loss of C$203.11. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — FEBRUARY 2021

DateClose (CAD)Change
February 1, 2021C$2,382.23+11.98
February 2, 2021C$2,351.46-30.77
February 3, 2021C$2,342.49-8.97
February 4, 2021C$2,286.93-55.56
February 5, 2021C$2,322.10+35.17
February 8, 2021C$2,337.21+15.11
February 9, 2021C$2,337.75+0.54
February 10, 2021C$2,337.03-0.72
February 11, 2021C$2,316.89-20.14
February 12, 2021C$2,313.54-3.35
February 16, 2021C$2,270.87-42.67
February 17, 2021C$2,250.89-19.98
February 18, 2021C$2,252.20+1.31
February 19, 2021C$2,251.87-0.33
February 22, 2021C$2,276.21+24.34
February 23, 2021C$2,275.17-1.04
February 24, 2021C$2,262.13-13.04
February 25, 2021C$2,219.77-42.36
February 26, 2021C$2,179.12-40.65

📊 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$2,292.94
Per GramC$73.72
Per KilogramC$73,719.63
Per Pennyweight (1.555g)C$114.65
Per Tola (11.66g)C$859.85

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