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GOLD PRICE IN NORTHWEST TERRITORIES — JULY 2007

C$699.63 avg/oz

During July 2007, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$683.77 to C$717.18 per ounce, with a monthly average of C$699.63. The month opened at C$692.67 and closed at C$711.45, a gain of C$18.78. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — JULY 2007

DateClose (CAD)Change
July 2, 2007C$692.67+2.77
July 3, 2007C$692.27-0.40
July 5, 2007C$684.90-7.37
July 6, 2007C$683.77-1.13
July 9, 2007C$692.67+8.90
July 10, 2007C$699.27+6.60
July 11, 2007C$696.48-2.79
July 12, 2007C$696.97+0.49
July 13, 2007C$697.16+0.19
July 16, 2007C$694.06-3.10
July 17, 2007C$693.45-0.61
July 18, 2007C$702.26+8.81
July 19, 2007C$706.52+4.26
July 20, 2007C$717.18+10.66
July 23, 2007C$712.63-4.55
July 24, 2007C$709.24-3.39
July 25, 2007C$701.44-7.80
July 26, 2007C$698.01-3.43
July 27, 2007C$702.17+4.16
July 30, 2007C$707.64+5.47
July 31, 2007C$711.45+3.81

📊 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

When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.

Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$699.63
Per GramC$22.49
Per KilogramC$22,493.59
Per Pennyweight (1.555g)C$34.98
Per Tola (11.66g)C$262.36

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