GOLD PRICE IN NUNAVUT — OCTOBER 2003
During October 2003, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$488.36 to C$516.92 per ounce, with a monthly average of C$501.00. The month opened at C$516.92 and closed at C$506.35, a loss of C$10.57. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.
DAILY PRICES — OCTOBER 2003
| Date | Close (CAD) | Change |
|---|---|---|
| October 1, 2003 | C$516.92 | -3.45 |
| October 2, 2003 | C$513.43 | -3.49 |
| October 3, 2003 | C$496.14 | -17.29 |
| October 6, 2003 | C$499.05 | +2.91 |
| October 7, 2003 | C$502.13 | +3.08 |
| October 8, 2003 | C$500.15 | -1.98 |
| October 9, 2003 | C$494.10 | -6.05 |
| October 10, 2003 | C$494.12 | +0.02 |
| October 13, 2003 | C$495.79 | +1.67 |
| October 14, 2003 | C$497.13 | +1.34 |
| October 15, 2003 | C$494.66 | -2.47 |
| October 16, 2003 | C$491.40 | -3.26 |
| October 17, 2003 | C$488.36 | -3.04 |
| October 20, 2003 | C$493.34 | +4.98 |
| October 21, 2003 | C$502.89 | +9.55 |
| October 22, 2003 | C$503.76 | +0.87 |
| October 23, 2003 | C$502.26 | -1.50 |
| October 24, 2003 | C$507.86 | +5.60 |
| October 27, 2003 | C$508.50 | +0.64 |
| October 28, 2003 | C$501.95 | -6.55 |
| October 29, 2003 | C$507.44 | +5.49 |
| October 30, 2003 | C$505.28 | -2.16 |
| October 31, 2003 | C$506.35 | +1.07 |
📊 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$501.00 |
| Per Gram | C$16.11 |
| Per Kilogram | C$16,107.50 |
| Per Pennyweight (1.555g) | C$25.05 |
| Per Tola (11.66g) | C$187.88 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides