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GOLD PRICE IN NUNAVUT — SEPTEMBER 2004

C$522.90 avg/oz

During September 2004, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$511.73 to C$534.06 per ounce, with a monthly average of C$522.90. The month opened at C$534.06 and closed at C$528.19, a loss of C$5.87. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — SEPTEMBER 2004

DateClose (CAD)Change
September 1, 2004C$534.06-4.55
September 2, 2004C$527.88-6.18
September 3, 2004C$520.77-7.11
September 7, 2004C$511.73-9.04
September 8, 2004C$515.55+3.82
September 9, 2004C$512.91-2.64
September 10, 2004C$518.77+5.86
September 13, 2004C$525.81+7.04
September 14, 2004C$524.65-1.16
September 15, 2004C$525.00+0.35
September 16, 2004C$522.06-2.94
September 17, 2004C$526.24+4.18
September 20, 2004C$524.46-1.78
September 21, 2004C$525.52+1.06
September 22, 2004C$522.48-3.04
September 23, 2004C$525.87+3.39
September 24, 2004C$519.96-5.91
September 27, 2004C$520.17+0.21
September 28, 2004C$524.33+4.16
September 29, 2004C$524.39+0.06
September 30, 2004C$528.19+3.80

📊 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. Geopolitical tensions — including trade wars, military conflicts, and sanctions — historically drive gold higher as investors seek safe-haven assets. The Canadian Dollar, as a commodity currency tied to oil prices, can weaken independently during global uncertainty, creating a double tailwind for gold priced in CAD.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

Portfolio Allocation: Most Canadian financial planners recommend allocating 5–15% of a diversified portfolio to gold and precious metals. This allocation provides downside protection during equity bear markets while maintaining growth potential during inflationary periods.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$522.90
Per GramC$16.81
Per KilogramC$16,811.60
Per Pennyweight (1.555g)C$26.14
Per Tola (11.66g)C$196.09

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