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GOLD PRICE IN NEWFOUNDLAND & LABRADOR — JULY 2010

C$1,241.82 avg/oz

During July 2010, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$1,198.76 to C$1,282.50 per ounce, with a monthly average of C$1,241.82. The month opened at C$1,277.09 and closed at C$1,216.21, a loss of C$60.88. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — JULY 2010

DateClose (CAD)Change
July 1, 2010C$1,277.09-46.38
July 2, 2010C$1,282.50+5.41
July 6, 2010C$1,259.08-23.42
July 7, 2010C$1,256.01-3.07
July 8, 2010C$1,247.34-8.67
July 9, 2010C$1,250.00+2.66
July 12, 2010C$1,242.01-7.99
July 13, 2010C$1,250.91+8.90
July 14, 2010C$1,246.44-4.47
July 15, 2010C$1,254.18+7.74
July 16, 2010C$1,255.60+1.42
July 19, 2010C$1,246.81-8.79
July 20, 2010C$1,243.45-3.36
July 21, 2010C$1,248.51+5.06
July 22, 2010C$1,238.74-9.77
July 23, 2010C$1,230.22-8.52
July 26, 2010C$1,220.62-9.60
July 27, 2010C$1,198.76-21.86
July 28, 2010C$1,204.37+5.61
July 29, 2010C$1,209.29+4.92
July 30, 2010C$1,216.21+6.92

📊 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$1,241.82
Per GramC$39.93
Per KilogramC$39,925.38
Per Pennyweight (1.555g)C$62.09
Per Tola (11.66g)C$465.68

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