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GOLD PRICE IN NOVA SCOTIA — MAY 2017

C$1,693.16 avg/oz

During May 2017, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$1,662.83 to C$1,715.97 per ounce, with a monthly average of C$1,693.16. The month opened at C$1,709.75 and closed at C$1,713.41, a gain of C$3.66. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — MAY 2017

DateClose (CAD)Change
May 1, 2017C$1,709.75-15.68
May 2, 2017C$1,715.97+6.22
May 3, 2017C$1,708.40-7.57
May 4, 2017C$1,683.65-24.75
May 5, 2017C$1,684.25+0.60
May 8, 2017C$1,675.14-9.11
May 9, 2017C$1,662.83-12.31
May 10, 2017C$1,668.55+5.72
May 11, 2017C$1,676.41+7.86
May 12, 2017C$1,680.37+3.96
May 15, 2017C$1,685.34+4.97
May 16, 2017C$1,683.10-2.24
May 17, 2017C$1,711.75+28.65
May 18, 2017C$1,702.17-9.58
May 19, 2017C$1,704.11+1.94
May 22, 2017C$1,703.99-0.12
May 23, 2017C$1,692.96-11.03
May 24, 2017C$1,693.40+0.44
May 25, 2017C$1,684.39-9.01
May 26, 2017C$1,709.16+24.77
May 30, 2017C$1,700.48-8.68
May 31, 2017C$1,713.41+12.93

📊 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$1,693.16
Per GramC$54.44
Per KilogramC$54,436.28
Per Pennyweight (1.555g)C$84.66
Per Tola (11.66g)C$634.94

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