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GOLD PRICE IN NEWFOUNDLAND & LABRADOR — OCTOBER 2007

C$737.01 avg/oz

During October 2007, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$722.91 to C$754.11 per ounce, with a monthly average of C$737.01. The month opened at C$741.15 and closed at C$749.79, a gain of C$8.64. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — OCTOBER 2007

DateClose (CAD)Change
October 1, 2007C$741.15+1.47
October 2, 2007C$728.78-12.37
October 3, 2007C$728.28-0.50
October 4, 2007C$735.51+7.23
October 5, 2007C$727.73-7.78
October 8, 2007C$722.91-4.82
October 9, 2007C$724.50+1.59
October 10, 2007C$726.63+2.13
October 11, 2007C$733.19+6.56
October 12, 2007C$728.78-4.41
October 15, 2007C$738.40+9.62
October 16, 2007C$741.10+2.70
October 17, 2007C$738.03-3.07
October 18, 2007C$744.23+6.20
October 19, 2007C$735.88-8.35
October 22, 2007C$739.17+3.29
October 23, 2007C$733.80-5.37
October 24, 2007C$738.07+4.27
October 25, 2007C$741.29+3.22
October 26, 2007C$754.11+12.82
October 29, 2007C$752.25-1.86
October 30, 2007C$747.75-4.50
October 31, 2007C$749.79+2.04

📊 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$737.01
Per GramC$23.70
Per KilogramC$23,695.39
Per Pennyweight (1.555g)C$36.85
Per Tola (11.66g)C$276.38

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