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GOLD PRICE IN MANITOBA — NOVEMBER 2020

C$2,442.74 avg/oz

During November 2020, gold dealers serving Manitoba based pricing on CAD spot prices ranging from C$2,305.32 to C$2,553.48 per ounce, with a monthly average of C$2,442.74. The month opened at C$2,527.07 and closed at C$2,305.32, a loss of C$221.75. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Manitoba.

DAILY PRICES — NOVEMBER 2020

DateClose (CAD)Change
November 2, 2020C$2,527.07+27.26
November 3, 2020C$2,523.13-3.94
November 4, 2020C$2,482.32-40.81
November 5, 2020C$2,553.48+71.16
November 6, 2020C$2,551.40-2.08
November 9, 2020C$2,413.29-138.11
November 10, 2020C$2,439.35+26.06
November 11, 2020C$2,424.68-14.67
November 12, 2020C$2,445.28+20.60
November 13, 2020C$2,477.06+31.78
November 16, 2020C$2,476.82-0.24
November 17, 2020C$2,464.04-12.78
November 18, 2020C$2,455.22-8.82
November 19, 2020C$2,435.10-20.12
November 20, 2020C$2,450.43+15.33
November 23, 2020C$2,404.25-46.18
November 24, 2020C$2,359.67-44.58
November 25, 2020C$2,346.76-12.91
November 27, 2020C$2,320.11-26.65
November 30, 2020C$2,305.32-14.79

📊 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

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$2,442.74
Per GramC$78.54
Per KilogramC$78,535.80
Per Pennyweight (1.555g)C$122.14
Per Tola (11.66g)C$916.03

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