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GOLD PRICE IN BRITISH COLUMBIA — AUGUST 2023

C$2,581.88 avg/oz

During August 2023, gold dealers serving British Columbia based pricing on CAD spot prices ranging from C$2,550.43 to C$2,636.26 per ounce, with a monthly average of C$2,581.88. The month opened at C$2,560.17 and closed at C$2,623.41, a gain of C$63.24. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in British Columbia.

DAILY PRICES — AUGUST 2023

DateClose (CAD)Change
August 1, 2023C$2,560.17-50.94
August 2, 2023C$2,570.64+10.47
August 3, 2023C$2,577.94+7.30
August 4, 2023C$2,589.48+11.54
August 7, 2023C$2,585.67-3.81
August 8, 2023C$2,572.75-12.92
August 9, 2023C$2,571.42-1.33
August 10, 2023C$2,568.90-2.52
August 11, 2023C$2,571.86+2.96
August 14, 2023C$2,567.81-4.05
August 15, 2023C$2,560.54-7.27
August 16, 2023C$2,557.86-2.68
August 17, 2023C$2,550.43-7.43
August 18, 2023C$2,554.76+4.33
August 21, 2023C$2,563.83+9.07
August 22, 2023C$2,568.29+4.46
August 23, 2023C$2,599.59+31.30
August 24, 2023C$2,594.12-5.47
August 25, 2023C$2,596.57+2.45
August 28, 2023C$2,607.19+10.62
August 29, 2023C$2,633.85+26.66
August 30, 2023C$2,636.26+2.41
August 31, 2023C$2,623.41-12.85

📊 Gold Market Analysis

Market technicals for gold in CAD incorporate both the underlying commodity trend and currency movements. Support and resistance levels for XAU/CAD often differ from XAU/USD due to the additional variable of Canadian Dollar strength. The gold-to-silver ratio, currently fluctuating between 80:1 and 90:1, is watched closely by precious metals investors. Historically, ratios above 80 suggest silver is undervalued relative to gold. Canadian investors can use this metric to decide whether to overweight gold or silver in their bullion portfolios when purchasing from dealers like Kitco or Sprott Money.

❓ 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

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,581.88
Per GramC$83.01
Per KilogramC$83,009.25
Per Pennyweight (1.555g)C$129.09
Per Tola (11.66g)C$968.21

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