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GOLD PRICE IN NOVA SCOTIA — JANUARY 2002

C$380.36 avg/oz

During January 2002, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$375.44 to C$387.99 per ounce, with a monthly average of C$380.36. The month opened at C$376.51 and closed at C$380.84, a gain of C$4.33. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — JANUARY 2002

DateClose (CAD)Change
January 2, 2002C$376.51+0.26
January 3, 2002C$375.57-0.94
January 4, 2002C$376.51+0.94
January 7, 2002C$376.11-0.40
January 8, 2002C$376.51+0.40
January 9, 2002C$382.59+6.08
January 10, 2002C$387.59+5.00
January 11, 2002C$387.99+0.40
January 14, 2002C$385.29-2.70
January 15, 2002C$383.94-1.35
January 16, 2002C$387.85+3.91
January 17, 2002C$383.94-3.91
January 18, 2002C$382.19-1.75
January 22, 2002C$380.03-2.16
January 23, 2002C$376.11-3.92
January 24, 2002C$375.44-0.67
January 25, 2002C$376.38+0.94
January 28, 2002C$375.70-0.68
January 29, 2002C$379.89+4.19
January 30, 2002C$380.56+0.67
January 31, 2002C$380.84+0.28

📊 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$380.36
Per GramC$12.23
Per KilogramC$12,228.84
Per Pennyweight (1.555g)C$19.02
Per Tola (11.66g)C$142.63

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