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GOLD PRICE IN NOVA SCOTIA — NOVEMBER 2001

C$372.75 avg/oz

During November 2001, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$367.60 to C$379.35 per ounce, with a monthly average of C$372.75. The month opened at C$377.60 and closed at C$369.76, a loss of C$7.84. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — NOVEMBER 2001

DateClose (CAD)Change
November 1, 2001C$377.60+0.27
November 2, 2001C$377.73+0.13
November 5, 2001C$375.98-1.75
November 6, 2001C$377.60+1.62
November 7, 2001C$379.35+1.75
November 8, 2001C$373.68-5.67
November 9, 2001C$374.49+0.81
November 12, 2001C$375.70+1.21
November 13, 2001C$375.03-0.67
November 14, 2001C$375.03+0.00
November 15, 2001C$371.39-3.64
November 16, 2001C$370.85-0.54
November 19, 2001C$368.15-2.70
November 20, 2001C$368.55+0.40
November 21, 2001C$368.41-0.14
November 26, 2001C$367.60-0.81
November 27, 2001C$368.82+1.22
November 28, 2001C$370.04+1.22
November 29, 2001C$369.23-0.81
November 30, 2001C$369.76+0.53

📊 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$372.75
Per GramC$11.98
Per KilogramC$11,984.17
Per Pennyweight (1.555g)C$18.64
Per Tola (11.66g)C$139.78

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