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GOLD PRICE IN NOVA SCOTIA — JUNE 2007

C$697.40 avg/oz

During June 2007, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$685.33 to C$711.40 per ounce, with a monthly average of C$697.40. The month opened at C$711.40 and closed at C$689.90, a loss of C$21.50. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — JUNE 2007

DateClose (CAD)Change
June 1, 2007C$711.40+4.06
June 4, 2007C$709.73-1.67
June 5, 2007C$711.18+1.45
June 6, 2007C$708.25-2.93
June 7, 2007C$701.95-6.30
June 8, 2007C$685.33-16.62
June 11, 2007C$693.36+8.03
June 12, 2007C$691.75-1.61
June 13, 2007C$691.69-0.06
June 14, 2007C$695.65+3.96
June 15, 2007C$698.74+3.09
June 18, 2007C$702.23+3.49
June 19, 2007C$701.80-0.43
June 20, 2007C$700.26-1.54
June 21, 2007C$698.61-1.65
June 22, 2007C$697.35-1.26
June 25, 2007C$696.96-0.39
June 26, 2007C$687.01-9.95
June 27, 2007C$686.49-0.52
June 28, 2007C$685.77-0.72
June 29, 2007C$689.90+4.13

📊 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$697.40
Per GramC$22.42
Per KilogramC$22,421.90
Per Pennyweight (1.555g)C$34.87
Per Tola (11.66g)C$261.52

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