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GOLD PRICE IN MANITOBA — AUGUST 2006

C$705.05 avg/oz

During August 2006, gold dealers serving Manitoba based pricing on CAD spot prices ranging from C$676.35 to C$733.83 per ounce, with a monthly average of C$705.05. The month opened at C$731.03 and closed at C$691.18, a loss of C$39.85. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Manitoba.

DAILY PRICES — AUGUST 2006

DateClose (CAD)Change
August 1, 2006C$731.03+14.00
August 2, 2006C$733.83+2.80
August 3, 2006C$725.38-8.45
August 4, 2006C$724.76-0.62
August 7, 2006C$724.50-0.26
August 8, 2006C$725.96+1.46
August 9, 2006C$728.43+2.47
August 10, 2006C$715.66-12.77
August 11, 2006C$712.18-3.48
August 14, 2006C$708.51-3.67
August 15, 2006C$698.57-9.94
August 16, 2006C$703.58+5.01
August 17, 2006C$691.03-12.55
August 18, 2006C$688.86-2.17
August 21, 2006C$699.72+10.86
August 22, 2006C$696.30-3.42
August 23, 2006C$693.80-2.50
August 24, 2006C$687.77-6.03
August 25, 2006C$690.30+2.53
August 28, 2006C$683.66-6.64
August 29, 2006C$676.35-7.31
August 30, 2006C$684.72+8.37
August 31, 2006C$691.18+6.46

📊 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$705.05
Per GramC$22.67
Per KilogramC$22,667.85
Per Pennyweight (1.555g)C$35.25
Per Tola (11.66g)C$264.39

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