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GOLD PRICE IN NORTHWEST TERRITORIES — DECEMBER 2001

C$372.61 avg/oz

During December 2001, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$367.47 to C$378.54 per ounce, with a monthly average of C$372.61. The month opened at C$373.81 and closed at C$376.25, a gain of C$2.44. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — DECEMBER 2001

DateClose (CAD)Change
December 3, 2001C$373.81+4.05
December 4, 2001C$371.79-2.02
December 5, 2001C$369.50-2.29
December 6, 2001C$370.17+0.67
December 7, 2001C$369.76-0.41
December 10, 2001C$367.47-2.29
December 11, 2001C$367.47+0.00
December 12, 2001C$369.63+2.16
December 13, 2001C$369.76+0.13
December 14, 2001C$375.30+5.54
December 17, 2001C$374.90-0.40
December 18, 2001C$378.54+3.64
December 19, 2001C$371.93-6.61
December 20, 2001C$372.60+0.67
December 21, 2001C$375.30+2.70
December 26, 2001C$377.60+2.30
December 27, 2001C$374.49-3.11
December 28, 2001C$373.28-1.21
December 31, 2001C$376.25+2.97

📊 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

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$372.61
Per GramC$11.98
Per KilogramC$11,979.67
Per Pennyweight (1.555g)C$18.63
Per Tola (11.66g)C$139.73

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