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GOLD PRICE IN NUNAVUT — OCTOBER 2001

C$382.56 avg/oz

During October 2001, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$371.93 to C$394.74 per ounce, with a monthly average of C$382.56. The month opened at C$394.47 and closed at C$377.33, a loss of C$17.14. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — OCTOBER 2001

DateClose (CAD)Change
October 1, 2001C$394.47-0.27
October 2, 2001C$391.36-3.11
October 3, 2001C$392.18+0.82
October 4, 2001C$392.18+0.00
October 5, 2001C$393.39+1.21
October 8, 2001C$394.74+1.35
October 9, 2001C$390.01-4.73
October 10, 2001C$385.70-4.31
October 11, 2001C$380.43-5.27
October 12, 2001C$384.61+4.18
October 15, 2001C$380.84-3.77
October 16, 2001C$381.10+0.26
October 17, 2001C$382.59+1.49
October 18, 2001C$376.92-5.67
October 19, 2001C$378.14+1.22
October 22, 2001C$371.93-6.21
October 23, 2001C$372.74+0.81
October 24, 2001C$372.46-0.28
October 25, 2001C$375.03+2.57
October 26, 2001C$375.16+0.13
October 29, 2001C$376.79+1.63
October 30, 2001C$378.81+2.02
October 31, 2001C$377.33-1.48

📊 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. The London Bullion Market Association (LBMA) sets the benchmark gold price twice daily through electronic auction. This price, quoted in USD, is then converted to CAD using the prevailing exchange rate. Canadian dealers like Kitco update their premiums every 10–30 seconds based on these spot movements.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

Physical vs Paper Gold: Physical bullion (bars, coins) provides tangible ownership with no counterparty risk, ideal for long-term holdings. ETFs (CGL.TO, MNT.TO) offer convenience for trading and rebalancing. A combination of both can optimize for both security and flexibility.

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$382.56
Per GramC$12.30
Per KilogramC$12,299.57
Per Pennyweight (1.555g)C$19.13
Per Tola (11.66g)C$143.46

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