Home›Provinces›British Columbia›May 2023

GOLD PRICE IN BRITISH COLUMBIA — MAY 2023

C$2,693.40 avg/oz

During May 2023, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$2,634.76 to C$2,791.81 per ounce, with a monthly average of C$2,693.40. The month opened at C$2,689.31 and closed at C$2,670.85, a loss of C$18.46. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — MAY 2023

DateClose (CAD)Change
May 1, 2023C$2,689.31-17.17
May 2, 2023C$2,729.78+40.47
May 3, 2023C$2,762.85+33.07
May 4, 2023C$2,791.81+28.96
May 5, 2023C$2,728.13-63.68
May 8, 2023C$2,711.19-16.94
May 9, 2023C$2,722.89+11.70
May 10, 2023C$2,715.79-7.10
May 11, 2023C$2,694.08-21.71
May 12, 2023C$2,718.16+24.08
May 15, 2023C$2,735.20+17.04
May 16, 2023C$2,677.38-57.82
May 17, 2023C$2,669.43-7.95
May 18, 2023C$2,634.76-34.67
May 19, 2023C$2,670.79+36.03
May 22, 2023C$2,663.61-7.18
May 23, 2023C$2,663.31-0.30
May 24, 2023C$2,649.66-13.65
May 25, 2023C$2,640.38-9.28
May 26, 2023C$2,652.37+11.99
May 30, 2023C$2,663.08+10.71
May 31, 2023C$2,670.85+7.77

📊 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. Geopolitical tensions — including trade wars, military conflicts, and sanctions — historically drive gold higher as investors seek safe-haven assets. The Canadian Dollar, as a commodity currency tied to oil prices, can weaken independently during global uncertainty, creating a double tailwind for gold priced in CAD.

❓ Frequently Asked Questions

❓ 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.

❓ Where can I buy gold in my province?

Most Canadians buy gold online from national dealers (Kitco, Sprott Money, SilverGoldBull) with insured shipping to any province. Some metropolitan areas have local coin shops. The Royal Canadian Mint operates a retail store in Ottawa, Ontario.

💡 Canadian Gold Investor Guide

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,693.40
Per GramC$86.59
Per KilogramC$86,594.70
Per Pennyweight (1.555g)C$134.67
Per Tola (11.66g)C$1,010.03

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