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GOLD PRICE IN NOVA SCOTIA — SEPTEMBER 2023

C$2,588.83 avg/oz

During September 2023, gold dealers serving Nova Scotia based pricing on CAD spot prices ranging from C$2,493.27 to C$2,625.04 per ounce, with a monthly average of C$2,588.83. The month opened at C$2,620.61 and closed at C$2,493.27, a loss of C$127.34. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nova Scotia.

DAILY PRICES — SEPTEMBER 2023

DateClose (CAD)Change
September 1, 2023C$2,620.61-2.80
September 5, 2023C$2,619.38-1.23
September 6, 2023C$2,616.08-3.30
September 7, 2023C$2,615.28-0.80
September 8, 2023C$2,625.04+9.76
September 11, 2023C$2,620.88-4.16
September 12, 2023C$2,595.30-25.58
September 13, 2023C$2,587.02-8.28
September 14, 2023C$2,588.53+1.51
September 15, 2023C$2,599.84+11.31
September 18, 2023C$2,611.76+11.92
September 19, 2023C$2,605.69-6.07
September 20, 2023C$2,615.41+9.72
September 21, 2023C$2,586.45-28.96
September 22, 2023C$2,594.96+8.51
September 25, 2023C$2,583.00-11.96
September 26, 2023C$2,556.11-26.89
September 27, 2023C$2,530.33-25.78
September 28, 2023C$2,511.73-18.60
September 29, 2023C$2,493.27-18.46

📊 Gold Market Analysis

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. Gold's role as a portfolio diversifier is supported by its low correlation with equities. During the 2008 financial crisis and the 2020 COVID crash, gold provided positive returns when stock markets fell 30–50%. A 10% gold allocation has historically reduced portfolio volatility while maintaining competitive long-term returns.

❓ Frequently Asked Questions

❓ 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.

❓ Where can I buy gold in my province?

Most Canadians buy gold online from national dealers (Kitco, Sprott Money, SilverGoldBull) with insured shipping to any province. Some metropolitan areas have local coin shops. The Royal Canadian Mint operates a retail store in Ottawa, Ontario.

💡 Canadian Gold Investor Guide

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,588.83
Per GramC$83.23
Per KilogramC$83,232.70
Per Pennyweight (1.555g)C$129.44
Per Tola (11.66g)C$970.81

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