Home›Provinces›Newfoundland & Labrador›January 2008

GOLD PRICE IN NEWFOUNDLAND & LABRADOR — JANUARY 2008

C$899.98 avg/oz

During January 2008, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$852.20 to C$931.36 per ounce, with a monthly average of C$899.98. The month opened at C$852.20 and closed at C$923.90, a gain of C$71.70. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — JANUARY 2008

DateClose (CAD)Change
January 2, 2008C$852.20+19.30
January 3, 2008C$856.70+4.50
January 4, 2008C$862.06+5.36
January 7, 2008C$864.33+2.27
January 8, 2008C$882.21+17.88
January 9, 2008C$887.94+5.73
January 10, 2008C$899.37+11.43
January 11, 2008C$913.57+14.20
January 14, 2008C$917.29+3.72
January 15, 2008C$917.22-0.07
January 16, 2008C$900.50-16.72
January 17, 2008C$905.62+5.12
January 18, 2008C$904.76-0.86
January 22, 2008C$913.98+9.22
January 23, 2008C$903.33-10.65
January 24, 2008C$909.39+6.06
January 25, 2008C$914.23+4.84
January 28, 2008C$931.36+17.13
January 29, 2008C$923.53-7.83
January 30, 2008C$916.00-7.53
January 31, 2008C$923.90+7.90

📊 Gold Market Analysis

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. Gold's role as a portfolio diversifier is supported by its low correlation with equities. During the 2008 financial crisis and the 2020 COVID crash, gold provided positive returns when stock markets fell 30–50%. A 10% gold allocation has historically reduced portfolio volatility while maintaining competitive long-term returns.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 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$899.98
Per GramC$28.94
Per KilogramC$28,934.99
Per Pennyweight (1.555g)C$45.00
Per Tola (11.66g)C$337.49

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