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GOLD PRICE IN NEWFOUNDLAND & LABRADOR — SEPTEMBER 2003

C$512.85 avg/oz

During September 2003, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$503.41 to C$524.35 per ounce, with a monthly average of C$512.85. The month opened at C$503.82 and closed at C$520.37, a gain of C$16.55. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — SEPTEMBER 2003

DateClose (CAD)Change
September 2, 2003C$503.82-3.38
September 3, 2003C$504.76+0.94
September 4, 2003C$503.41-1.35
September 5, 2003C$509.76+6.35
September 8, 2003C$506.39-3.37
September 9, 2003C$515.30+8.91
September 10, 2003C$513.00-2.30
September 11, 2003C$512.60-0.40
September 12, 2003C$507.33-5.27
September 15, 2003C$505.58-1.75
September 16, 2003C$504.23-1.35
September 17, 2003C$514.15+9.92
September 18, 2003C$512.74-1.41
September 19, 2003C$514.36+1.62
September 22, 2003C$524.35+9.99
September 23, 2003C$522.93-1.42
September 24, 2003C$523.16+0.23
September 25, 2003C$519.56-3.60
September 26, 2003C$515.15-4.41
September 29, 2003C$516.97+1.82
September 30, 2003C$520.37+3.40

📊 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. Exchange-traded funds (ETFs) like SPDR Gold Shares (GLD) and iShares Gold Bullion ETF (CGL.TO) offer paper gold exposure. However, physical bullion provides tangible ownership without counterparty risk. Canadian investors should weigh convenience (ETFs) against security (physical) when building gold allocations.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 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$512.85
Per GramC$16.49
Per KilogramC$16,488.49
Per Pennyweight (1.555g)C$25.64
Per Tola (11.66g)C$192.32

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