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GOLD PRICE IN NEWFOUNDLAND & LABRADOR — JANUARY 2021

C$2,371.99 avg/oz

During January 2021, gold dealers serving Newfoundland & Labrador based pricing on CAD spot prices ranging from C$2,313.64 to C$2,495.75 per ounce, with a monthly average of C$2,371.99. The month opened at C$2,474.07 and closed at C$2,370.25, a loss of C$103.82. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Newfoundland & Labrador.

DAILY PRICES — JANUARY 2021

DateClose (CAD)Change
January 4, 2021C$2,474.07+60.24
January 5, 2021C$2,495.75+21.68
January 6, 2021C$2,416.94-78.81
January 7, 2021C$2,422.00+5.06
January 8, 2021C$2,326.34-95.66
January 11, 2021C$2,354.69+28.35
January 12, 2021C$2,353.64-1.05
January 13, 2021C$2,355.50+1.86
January 14, 2021C$2,349.53-5.97
January 15, 2021C$2,313.64-35.89
January 19, 2021C$2,344.99+31.35
January 20, 2021C$2,373.93+28.94
January 21, 2021C$2,355.13-18.80
January 22, 2021C$2,346.85-8.28
January 25, 2021C$2,359.97+13.12
January 26, 2021C$2,357.33-2.64
January 27, 2021C$2,341.90-15.43
January 28, 2021C$2,355.45+13.55
January 29, 2021C$2,370.25+14.80

📊 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. The London Bullion Market Association (LBMA) sets the benchmark gold price twice daily through electronic auction. This price, quoted in USD, is then converted to CAD using the prevailing exchange rate. Canadian dealers like Kitco update their premiums every 10–30 seconds based on these spot movements.

❓ 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$2,371.99
Per GramC$76.26
Per KilogramC$76,261.14
Per Pennyweight (1.555g)C$118.60
Per Tola (11.66g)C$889.50

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