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GOLD PRICE IN NOVA SCOTIA — JANUARY 2020

C$2,039.69 avg/oz

During January 2020, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$1,977.73 to C$2,091.22 per ounce, with a monthly average of C$2,039.69. The month opened at C$1,977.73 and closed at C$2,091.22, a gain of C$113.49. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — JANUARY 2020

DateClose (CAD)Change
January 2, 2020C$1,977.73-6.83
January 3, 2020C$2,011.33+33.60
January 6, 2020C$2,033.96+22.63
January 7, 2020C$2,037.67+3.71
January 8, 2020C$2,025.10-12.57
January 9, 2020C$2,022.87-2.23
January 10, 2020C$2,034.48+11.61
January 13, 2020C$2,023.05-11.43
January 14, 2020C$2,013.70-9.35
January 15, 2020C$2,027.90+14.20
January 16, 2020C$2,019.59-8.31
January 17, 2020C$2,032.52+12.93
January 21, 2020C$2,030.39-2.13
January 22, 2020C$2,033.32+2.93
January 23, 2020C$2,055.73+22.41
January 24, 2020C$2,062.38+6.65
January 27, 2020C$2,074.91+12.53
January 28, 2020C$2,069.41-5.50
January 29, 2020C$2,066.48-2.93
January 30, 2020C$2,089.74+23.26
January 31, 2020C$2,091.22+1.48

📊 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$2,039.69
Per GramC$65.58
Per KilogramC$65,577.46
Per Pennyweight (1.555g)C$101.98
Per Tola (11.66g)C$764.88

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