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GOLD PRICE IN NORTHWEST TERRITORIES — MAY 2009

C$1,069.46 avg/oz

During May 2009, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$1,051.98 to C$1,090.74 per ounce, with a monthly average of C$1,069.46. The month opened at C$1,051.98 and closed at C$1,067.87, a gain of C$15.89. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — MAY 2009

DateClose (CAD)Change
May 1, 2009C$1,051.98-11.34
May 4, 2009C$1,056.95+4.97
May 5, 2009C$1,061.21+4.26
May 6, 2009C$1,061.92+0.71
May 7, 2009C$1,070.82+8.90
May 8, 2009C$1,052.20-18.62
May 11, 2009C$1,063.28+11.08
May 12, 2009C$1,071.72+8.44
May 13, 2009C$1,087.09+15.37
May 14, 2009C$1,085.95-1.14
May 15, 2009C$1,090.74+4.79
May 18, 2009C$1,070.73-20.01
May 19, 2009C$1,069.88-0.85
May 20, 2009C$1,068.74-1.14
May 21, 2009C$1,080.39+11.65
May 22, 2009C$1,074.19-6.20
May 26, 2009C$1,063.09-11.10
May 27, 2009C$1,068.54+5.45
May 28, 2009C$1,071.88+3.34
May 29, 2009C$1,067.87-4.01

📊 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$1,069.46
Per GramC$34.38
Per KilogramC$34,383.89
Per Pennyweight (1.555g)C$53.47
Per Tola (11.66g)C$401.05

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