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GOLD PRICE IN NEW BRUNSWICK — JUNE 2008

C$904.65 avg/oz

During June 2008, gold dealers serving New Brunswick based pricing on CAD spot prices ranging from C$886.97 to C$944.08 per ounce, with a monthly average of C$904.65. The month opened at C$893.88 and closed at C$944.08, a gain of C$50.20. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in New Brunswick.

DAILY PRICES — JUNE 2008

DateClose (CAD)Change
June 2, 2008C$893.88+12.44
June 3, 2008C$888.83-5.05
June 4, 2008C$894.68+5.85
June 5, 2008C$886.97-7.71
June 6, 2008C$911.70+24.73
June 9, 2008C$914.74+3.04
June 10, 2008C$887.17-27.57
June 11, 2008C$896.85+9.68
June 12, 2008C$889.19-7.66
June 13, 2008C$895.97+6.78
June 16, 2008C$904.45+8.48
June 17, 2008C$899.60-4.85
June 18, 2008C$906.22+6.62
June 19, 2008C$915.14+8.92
June 20, 2008C$916.35+1.21
June 23, 2008C$898.43-17.92
June 24, 2008C$899.69+1.26
June 25, 2008C$888.45-11.24
June 26, 2008C$924.97+36.52
June 27, 2008C$940.36+15.39
June 30, 2008C$944.08+3.72

📊 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

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.

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$904.65
Per GramC$29.09
Per KilogramC$29,085.13
Per Pennyweight (1.555g)C$45.23
Per Tola (11.66g)C$339.24

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