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GOLD PRICE IN NOVA SCOTIA — OCTOBER 2011

C$1,706.91 avg/oz

During October 2011, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$1,641.87 to C$1,753.69 per ounce, with a monthly average of C$1,706.91. The month opened at C$1,738.80 and closed at C$1,713.34, a loss of C$25.46. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — OCTOBER 2011

DateClose (CAD)Change
October 3, 2011C$1,738.80+57.96
October 4, 2011C$1,700.60-38.20
October 5, 2011C$1,728.84+28.24
October 6, 2011C$1,721.16-7.68
October 7, 2011C$1,695.96-25.20
October 10, 2011C$1,732.71+36.75
October 11, 2011C$1,703.85-28.86
October 12, 2011C$1,728.28+24.43
October 13, 2011C$1,696.98-31.30
October 14, 2011C$1,720.99+24.01
October 17, 2011C$1,691.25-29.74
October 18, 2011C$1,688.70-2.55
October 19, 2011C$1,670.92-17.78
October 20, 2011C$1,641.87-29.05
October 21, 2011C$1,661.59+19.72
October 24, 2011C$1,666.86+5.27
October 25, 2011C$1,705.21+38.35
October 26, 2011C$1,751.12+45.91
October 27, 2011C$1,753.69+2.57
October 28, 2011C$1,732.40-21.29
October 31, 2011C$1,713.34-19.06

📊 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$1,706.91
Per GramC$54.88
Per KilogramC$54,878.35
Per Pennyweight (1.555g)C$85.35
Per Tola (11.66g)C$640.09

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