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GOLD PRICE IN NUNAVUT — MARCH 2005

C$528.40 avg/oz

During March 2005, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$515.46 to C$537.94 per ounce, with a monthly average of C$528.40. The month opened at C$537.14 and closed at C$518.56, a loss of C$18.58. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — MARCH 2005

DateClose (CAD)Change
March 1, 2005C$537.14-1.63
March 2, 2005C$535.89-1.25
March 3, 2005C$534.58-1.31
March 4, 2005C$534.76+0.18
March 7, 2005C$534.44-0.32
March 8, 2005C$533.73-0.71
March 9, 2005C$533.31-0.42
March 10, 2005C$532.47-0.84
March 11, 2005C$537.94+5.47
March 14, 2005C$532.63-5.31
March 15, 2005C$532.30-0.33
March 16, 2005C$533.68+1.38
March 17, 2005C$526.88-6.80
March 18, 2005C$527.29+0.41
March 21, 2005C$521.85-5.44
March 22, 2005C$521.48-0.37
March 23, 2005C$516.79-4.69
March 24, 2005C$516.22-0.57
March 28, 2005C$519.04+2.82
March 29, 2005C$515.46-3.58
March 31, 2005C$518.56+3.10

📊 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. Gold has historically outperformed during periods of negative real interest rates — when inflation exceeds the Bank of Canada's overnight rate. Canadian investors use gold as a hedge against purchasing power erosion, particularly when CPI exceeds 3%. The correlation between gold and the inverse of real rates makes it a strategic allocation in balanced portfolios.

❓ 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$528.40
Per GramC$16.99
Per KilogramC$16,988.43
Per Pennyweight (1.555g)C$26.42
Per Tola (11.66g)C$198.15

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