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GOLD PRICE IN NORTHWEST TERRITORIES — FEBRUARY 2002

C$399.89 avg/oz

During February 2002, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$386.10 to C$409.73 per ounce, with a monthly average of C$399.89. The month opened at C$386.10 and closed at C$400.55, a gain of C$14.45. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — FEBRUARY 2002

DateClose (CAD)Change
February 1, 2002C$386.10+5.26
February 4, 2002C$390.55+4.45
February 5, 2002C$402.57+12.02
February 6, 2002C$401.63-0.94
February 7, 2002C$404.60+2.97
February 8, 2002C$409.73+5.13
February 11, 2002C$405.14-4.59
February 12, 2002C$405.95+0.81
February 13, 2002C$404.19-1.76
February 14, 2002C$404.60+0.41
February 15, 2002C$402.84-1.76
February 19, 2002C$395.82-7.02
February 20, 2002C$394.60-1.22
February 21, 2002C$395.82+1.22
February 22, 2002C$395.82+0.00
February 25, 2002C$395.15-0.67
February 26, 2002C$402.30+7.15
February 27, 2002C$400.00-2.30
February 28, 2002C$400.55+0.55

📊 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$399.89
Per GramC$12.86
Per KilogramC$12,856.74
Per Pennyweight (1.555g)C$19.99
Per Tola (11.66g)C$149.96

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