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GOLD PRICE IN NEW BRUNSWICK — OCTOBER 2020

C$2,510.15 avg/oz

During October 2020, gold dealers serving New Brunswick based pricing on CAD spot prices ranging from C$2,475.05 to C$2,541.90 per ounce, with a monthly average of C$2,510.15. The month opened at C$2,539.18 and closed at C$2,499.81, a loss of C$39.37. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in New Brunswick.

DAILY PRICES — OCTOBER 2020

DateClose (CAD)Change
October 1, 2020C$2,539.18+12.99
October 2, 2020C$2,524.23-14.95
October 5, 2020C$2,541.90+17.67
October 6, 2020C$2,520.29-21.61
October 7, 2020C$2,509.20-11.09
October 8, 2020C$2,503.87-5.33
October 9, 2020C$2,532.22+28.35
October 12, 2020C$2,524.24-7.98
October 13, 2020C$2,476.30-47.94
October 14, 2020C$2,498.65+22.35
October 15, 2020C$2,502.44+3.79
October 16, 2020C$2,513.83+11.39
October 19, 2020C$2,512.50-1.33
October 20, 2020C$2,519.76+7.26
October 21, 2020C$2,525.17+5.41
October 22, 2020C$2,500.55-24.62
October 23, 2020C$2,498.60-1.95
October 26, 2020C$2,501.52+2.92
October 27, 2020C$2,520.78+19.26
October 28, 2020C$2,475.05-45.73
October 29, 2020C$2,483.21+8.16
October 30, 2020C$2,499.81+16.60

📊 Gold Market Analysis

Gold demand in Canada has grown significantly over the past decade, driven by institutional investors, ETF flows, and retail buyers seeking portfolio diversification. The Royal Canadian Mint's Gold Maple Leaf remains one of the world's most widely traded bullion coins. Central banks worldwide purchased over 1,000 tonnes of gold annually in 2023–2025, led by China, India, and Turkey. This institutional buying has provided a structural floor under gold prices. Canada is unique among G7 nations in holding zero gold reserves since 2016, making private gold ownership more significant for national wealth preservation.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 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$2,510.15
Per GramC$80.70
Per KilogramC$80,703.08
Per Pennyweight (1.555g)C$125.51
Per Tola (11.66g)C$941.31

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