Home›Provinces›Nova Scotia›August 2005

GOLD PRICE IN NOVA SCOTIA — AUGUST 2005

C$527.38 avg/oz

During August 2005, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$513.60 to C$535.54 per ounce, with a monthly average of C$527.38. The month opened at C$523.12 and closed at C$515.61, a loss of C$7.51. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — AUGUST 2005

DateClose (CAD)Change
August 1, 2005C$523.12+3.93
August 2, 2005C$525.97+2.85
August 3, 2005C$531.36+5.39
August 4, 2005C$530.73-0.63
August 5, 2005C$529.89-0.84
August 8, 2005C$527.60-2.29
August 9, 2005C$526.81-0.79
August 10, 2005C$528.60+1.79
August 11, 2005C$535.54+6.94
August 12, 2005C$534.05-1.49
August 15, 2005C$530.46-3.59
August 16, 2005C$534.78+4.32
August 17, 2005C$533.64-1.14
August 18, 2005C$535.40+1.76
August 19, 2005C$529.41-5.99
August 22, 2005C$526.38-3.03
August 23, 2005C$526.23-0.15
August 24, 2005C$520.43-5.80
August 25, 2005C$522.18+1.75
August 26, 2005C$524.22+2.04
August 29, 2005C$523.66-0.56
August 30, 2005C$513.60-10.06
August 31, 2005C$515.61+2.01

📊 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

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$527.38
Per GramC$16.96
Per KilogramC$16,955.64
Per Pennyweight (1.555g)C$26.37
Per Tola (11.66g)C$197.77

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