Home›Provinces›Nova Scotia›August 2008

GOLD PRICE IN NOVA SCOTIA — AUGUST 2008

C$880.60 avg/oz

During August 2008, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$833.55 to C$932.86 per ounce, with a monthly average of C$880.60. The month opened at C$931.36 and closed at C$885.53, a loss of C$45.83. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — AUGUST 2008

DateClose (CAD)Change
August 1, 2008C$931.36-3.74
August 4, 2008C$932.86+1.50
August 5, 2008C$916.03-16.83
August 6, 2008C$917.19+1.16
August 7, 2008C$915.98-1.21
August 8, 2008C$915.53-0.45
August 11, 2008C$878.10-37.43
August 12, 2008C$861.86-16.24
August 13, 2008C$876.31+14.45
August 14, 2008C$861.06-15.25
August 15, 2008C$833.55-27.51
August 18, 2008C$851.04+17.49
August 19, 2008C$859.93+8.89
August 20, 2008C$858.51-1.42
August 21, 2008C$869.90+11.39
August 22, 2008C$864.88-5.02
August 25, 2008C$861.61-3.27
August 26, 2008C$861.58-0.03
August 27, 2008C$866.77+5.19
August 28, 2008C$873.11+6.34
August 29, 2008C$885.53+12.42

📊 Gold Market Analysis

Market technicals for gold in CAD incorporate both the underlying commodity trend and currency movements. Support and resistance levels for XAU/CAD often differ from XAU/USD due to the additional variable of Canadian Dollar strength. Seasonal gold price patterns show that gold tends to perform well in January (New Year investment flows), August–September (Indian wedding season demand), and during year-end tax-loss harvesting. Canadian investors can use these seasonal trends to time bullion purchases for potentially better entry prices.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$880.60
Per GramC$28.31
Per KilogramC$28,311.91
Per Pennyweight (1.555g)C$44.03
Per Tola (11.66g)C$330.23

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