GOLD PRICE IN NUNAVUT — JULY 2003
During July 2003, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$461.84 to C$492.48 per ounce, with a monthly average of C$474.01. The month opened at C$474.39 and closed at C$477.90, a gain of C$3.51. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.
DAILY PRICES — JULY 2003
| Date | Close (CAD) | Change |
|---|---|---|
| July 1, 2003 | C$474.39 | +7.29 |
| July 2, 2003 | C$474.25 | -0.14 |
| July 3, 2003 | C$473.85 | -0.40 |
| July 7, 2003 | C$469.94 | -3.91 |
| July 8, 2003 | C$464.54 | -5.40 |
| July 9, 2003 | C$463.86 | -0.68 |
| July 10, 2003 | C$464.80 | +0.94 |
| July 11, 2003 | C$465.48 | +0.68 |
| July 14, 2003 | C$469.40 | +3.92 |
| July 15, 2003 | C$461.84 | -7.56 |
| July 16, 2003 | C$463.19 | +1.35 |
| July 17, 2003 | C$464.67 | +1.48 |
| July 18, 2003 | C$468.72 | +4.05 |
| July 21, 2003 | C$473.71 | +4.99 |
| July 22, 2003 | C$473.31 | -0.40 |
| July 23, 2003 | C$484.11 | +10.80 |
| July 24, 2003 | C$488.97 | +4.86 |
| July 25, 2003 | C$489.65 | +0.68 |
| July 28, 2003 | C$492.48 | +2.83 |
| July 29, 2003 | C$488.30 | -4.18 |
| July 30, 2003 | C$480.87 | -7.43 |
| July 31, 2003 | C$477.90 | -2.97 |
📊 Gold Market Analysis
❓ 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)
| Unit | Price (CAD) |
|---|---|
| Per Troy Ounce (31.1g) | C$474.01 |
| Per Gram | C$15.24 |
| Per Kilogram | C$15,239.75 |
| Per Pennyweight (1.555g) | C$23.70 |
| Per Tola (11.66g) | C$177.75 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides