Home›Provinces›Nova Scotia›April 2009

GOLD PRICE IN NOVA SCOTIA — APRIL 2009

C$1,092.60 avg/oz

During April 2009, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$1,050.16 to C$1,164.94 per ounce, with a monthly average of C$1,092.60. The month opened at C$1,164.94 and closed at C$1,063.32, a loss of C$101.62. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — APRIL 2009

DateClose (CAD)Change
April 1, 2009C$1,164.94+0.62
April 2, 2009C$1,122.73-42.21
April 3, 2009C$1,101.95-20.78
April 6, 2009C$1,079.96-21.99
April 7, 2009C$1,090.58+10.62
April 8, 2009C$1,094.67+4.09
April 9, 2009C$1,080.08-14.59
April 13, 2009C$1,092.25+12.17
April 14, 2009C$1,081.11-11.14
April 15, 2009C$1,074.75-6.36
April 16, 2009C$1,062.99-11.76
April 17, 2009C$1,050.16-12.83
April 20, 2009C$1,097.22+47.06
April 21, 2009C$1,090.98-6.24
April 22, 2009C$1,104.41+13.43
April 23, 2009C$1,108.73+4.32
April 24, 2009C$1,105.46-3.27
April 27, 2009C$1,105.94+0.48
April 28, 2009C$1,089.48-16.46
April 29, 2009C$1,082.91-6.57
April 30, 2009C$1,063.32-19.59

📊 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$1,092.60
Per GramC$35.13
Per KilogramC$35,127.85
Per Pennyweight (1.555g)C$54.63
Per Tola (11.66g)C$409.72

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