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GOLD PRICE IN NEWFOUNDLAND & LABRADOR — APRIL 2006

C$699.50 avg/oz

During April 2006, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$675.07 to C$727.80 per ounce, with a monthly average of C$699.50. The month opened at C$690.36 and closed at C$727.80, a gain of C$37.44. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — APRIL 2006

DateClose (CAD)Change
April 3, 2006C$690.36+11.17
April 4, 2006C$681.69-8.67
April 5, 2006C$683.02+1.33
April 6, 2006C$686.33+3.31
April 7, 2006C$675.07-11.26
April 10, 2006C$686.16+11.09
April 11, 2006C$680.79-5.37
April 12, 2006C$686.11+5.32
April 13, 2006C$686.21+0.10
April 17, 2006C$705.62+19.41
April 18, 2006C$707.11+1.49
April 19, 2006C$718.13+11.02
April 20, 2006C$706.51-11.62
April 21, 2006C$718.87+12.36
April 24, 2006C$705.44-13.43
April 25, 2006C$713.91+8.47
April 26, 2006C$720.18+6.27
April 27, 2006C$711.26-8.92
April 28, 2006C$727.80+16.54

📊 Gold Market Analysis

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. The Canadian Dollar (CAD) is strongly correlated with crude oil prices due to Canada's status as a major oil exporter. When oil prices fall, the CAD typically weakens, causing gold priced in CAD to rise even if USD gold is flat. This commodity currency dynamic makes gold an effective diversifier in Canadian portfolios.

❓ 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

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$699.50
Per GramC$22.49
Per KilogramC$22,489.41
Per Pennyweight (1.555g)C$34.98
Per Tola (11.66g)C$262.31

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