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GOLD PRICE IN NORTHWEST TERRITORIES — AUGUST 2020

C$2,603.97 avg/oz

During August 2020, gold dealers serving Northwest Territories based pricing on CAD spot prices ranging from C$2,524.60 to C$2,721.27 per ounce, with a monthly average of C$2,603.97. The month opened at C$2,633.89 and closed at C$2,573.68, a loss of C$60.21. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Northwest Territories.

DAILY PRICES — AUGUST 2020

DateClose (CAD)Change
August 3, 2020C$2,633.89+1.23
August 4, 2020C$2,680.41+46.52
August 5, 2020C$2,700.51+20.10
August 6, 2020C$2,721.27+20.76
August 7, 2020C$2,677.13-44.14
August 10, 2020C$2,710.02+32.89
August 11, 2020C$2,580.79-129.23
August 12, 2020C$2,575.45-5.34
August 13, 2020C$2,591.38+15.93
August 14, 2020C$2,560.64-30.74
August 17, 2020C$2,630.60+69.96
August 18, 2020C$2,643.57+12.97
August 19, 2020C$2,576.14-67.43
August 20, 2020C$2,554.98-21.16
August 21, 2020C$2,548.33-6.65
August 24, 2020C$2,540.69-7.64
August 25, 2020C$2,526.94-13.75
August 26, 2020C$2,554.54+27.60
August 27, 2020C$2,524.60-29.94
August 28, 2020C$2,577.87+53.27
August 31, 2020C$2,573.68-4.19

📊 Gold Market Analysis

Gold demand in Canada has grown significantly over the past decade, driven by institutional investors, ETF flows, and retail buyers seeking portfolio diversification. The Royal Canadian Mint's Gold Maple Leaf remains one of the world's most widely traded bullion coins. Exchange-traded funds (ETFs) like SPDR Gold Shares (GLD) and iShares Gold Bullion ETF (CGL.TO) offer paper gold exposure. However, physical bullion provides tangible ownership without counterparty risk. Canadian investors should weigh convenience (ETFs) against security (physical) when building gold allocations.

❓ Frequently Asked Questions

❓ 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.

❓ Where can I buy gold in my province?

Most Canadians buy gold online from national dealers (Kitco, Sprott Money, SilverGoldBull) with insured shipping to any province. Some metropolitan areas have local coin shops. The Royal Canadian Mint operates a retail store in Ottawa, Ontario.

❓ 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.

💡 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$2,603.97
Per GramC$83.72
Per KilogramC$83,719.46
Per Pennyweight (1.555g)C$130.20
Per Tola (11.66g)C$976.49

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