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GOLD PRICE IN NORTHWEST TERRITORIES — OCTOBER 2003

C$501.00 avg/oz

During October 2003, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$488.36 to C$516.92 per ounce, with a monthly average of C$501.00. The month opened at C$516.92 and closed at C$506.35, a loss of C$10.57. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — OCTOBER 2003

DateClose (CAD)Change
October 1, 2003C$516.92-3.45
October 2, 2003C$513.43-3.49
October 3, 2003C$496.14-17.29
October 6, 2003C$499.05+2.91
October 7, 2003C$502.13+3.08
October 8, 2003C$500.15-1.98
October 9, 2003C$494.10-6.05
October 10, 2003C$494.12+0.02
October 13, 2003C$495.79+1.67
October 14, 2003C$497.13+1.34
October 15, 2003C$494.66-2.47
October 16, 2003C$491.40-3.26
October 17, 2003C$488.36-3.04
October 20, 2003C$493.34+4.98
October 21, 2003C$502.89+9.55
October 22, 2003C$503.76+0.87
October 23, 2003C$502.26-1.50
October 24, 2003C$507.86+5.60
October 27, 2003C$508.50+0.64
October 28, 2003C$501.95-6.55
October 29, 2003C$507.44+5.49
October 30, 2003C$505.28-2.16
October 31, 2003C$506.35+1.07

📊 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$501.00
Per GramC$16.11
Per KilogramC$16,107.50
Per Pennyweight (1.555g)C$25.05
Per Tola (11.66g)C$187.88

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