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GOLD PRICE IN NOVA SCOTIA — FEBRUARY 2010

C$1,159.83 avg/oz

During February 2010, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$1,126.80 to C$1,181.29 per ounce, with a monthly average of C$1,159.83. The month opened at C$1,172.44 and closed at C$1,175.89, a gain of C$3.45. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — FEBRUARY 2010

DateClose (CAD)Change
February 1, 2010C$1,172.44+13.63
February 2, 2010C$1,181.29+8.85
February 3, 2010C$1,180.08-1.21
February 4, 2010C$1,138.89-41.19
February 5, 2010C$1,126.80-12.09
February 8, 2010C$1,145.18+18.38
February 9, 2010C$1,149.05+3.87
February 10, 2010C$1,142.50-6.55
February 11, 2010C$1,149.13+6.63
February 12, 2010C$1,144.47-4.66
February 16, 2010C$1,167.88+23.41
February 17, 2010C$1,171.22+3.34
February 18, 2010C$1,174.25+3.03
February 19, 2010C$1,165.25-9.00
February 22, 2010C$1,159.55-5.70
February 23, 2010C$1,163.35+3.80
February 24, 2010C$1,154.29-9.06
February 25, 2010C$1,175.27+20.98
February 26, 2010C$1,175.89+0.62

📊 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$1,159.83
Per GramC$37.29
Per KilogramC$37,289.35
Per Pennyweight (1.555g)C$57.99
Per Tola (11.66g)C$434.94

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