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GOLD PRICE IN BRITISH COLUMBIA — OCTOBER 2022

C$2,281.83 avg/oz

During October 2022, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$2,224.04 to C$2,345.53 per ounce, with a monthly average of C$2,281.83. The month opened at C$2,334.05 and closed at C$2,226.15, a loss of C$107.90. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — OCTOBER 2022

DateClose (CAD)Change
October 3, 2022C$2,334.05+60.80
October 4, 2022C$2,345.53+11.48
October 5, 2022C$2,311.31-34.22
October 6, 2022C$2,327.54+16.23
October 7, 2022C$2,336.66+9.12
October 10, 2022C$2,289.55-47.11
October 11, 2022C$2,312.41+22.86
October 12, 2022C$2,303.59-8.82
October 13, 2022C$2,307.22+3.63
October 14, 2022C$2,259.00-48.22
October 17, 2022C$2,295.77+36.77
October 18, 2022C$2,261.26-34.51
October 19, 2022C$2,233.94-27.32
October 20, 2022C$2,246.07+12.13
October 21, 2022C$2,274.63+28.56
October 24, 2022C$2,249.85-24.78
October 25, 2022C$2,263.54+13.69
October 26, 2022C$2,265.82+2.28
October 27, 2022C$2,250.58-15.24
October 28, 2022C$2,224.04-26.54
October 31, 2022C$2,226.15+2.11

📊 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$2,281.83
Per GramC$73.36
Per KilogramC$73,362.43
Per Pennyweight (1.555g)C$114.09
Per Tola (11.66g)C$855.69

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