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GOLD PRICE IN NORTHWEST TERRITORIES — FEBRUARY 2020

C$2,119.13 avg/oz

During February 2020, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$2,061.10 to C$2,216.43 per ounce, with a monthly average of C$2,119.13. The month opened at C$2,088.28 and closed at C$2,093.74, a gain of C$5.46. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — FEBRUARY 2020

DateClose (CAD)Change
February 3, 2020C$2,088.28-2.94
February 4, 2020C$2,061.10-27.18
February 5, 2020C$2,069.13+8.03
February 6, 2020C$2,079.13+10.00
February 7, 2020C$2,083.73+4.60
February 10, 2020C$2,095.86+12.13
February 11, 2020C$2,084.91-10.95
February 12, 2020C$2,083.14-1.77
February 13, 2020C$2,087.97+4.83
February 14, 2020C$2,099.28+11.31
February 18, 2020C$2,117.60+18.32
February 19, 2020C$2,130.53+12.93
February 20, 2020C$2,137.21+6.68
February 21, 2020C$2,180.71+43.50
February 24, 2020C$2,216.43+35.72
February 25, 2020C$2,188.30-28.13
February 26, 2020C$2,177.79-10.51
February 27, 2020C$2,188.63+10.84
February 28, 2020C$2,093.74-94.89

📊 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$2,119.13
Per GramC$68.13
Per KilogramC$68,131.51
Per Pennyweight (1.555g)C$105.96
Per Tola (11.66g)C$794.67

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