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GOLD PRICE IN NUNAVUT — MARCH 2014

C$1,484.57 avg/oz

During March 2014, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$1,418.16 to C$1,527.56 per ounce, with a monthly average of C$1,484.57. The month opened at C$1,493.53 and closed at C$1,418.16, a loss of C$75.37. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — MARCH 2014

DateClose (CAD)Change
March 3, 2014C$1,493.53+23.74
March 4, 2014C$1,482.23-11.30
March 5, 2014C$1,486.01+3.78
March 6, 2014C$1,490.68+4.67
March 7, 2014C$1,470.00-20.68
March 10, 2014C$1,487.40+17.40
March 11, 2014C$1,496.54+9.14
March 12, 2014C$1,522.21+25.67
March 13, 2014C$1,525.43+3.22
March 14, 2014C$1,527.56+2.13
March 17, 2014C$1,523.19-4.37
March 18, 2014C$1,502.78-20.41
March 19, 2014C$1,492.68-10.10
March 20, 2014C$1,496.21+3.53
March 21, 2014C$1,501.80+5.59
March 24, 2014C$1,471.91-29.89
March 25, 2014C$1,468.37-3.54
March 26, 2014C$1,455.25-13.12
March 27, 2014C$1,436.94-18.31
March 28, 2014C$1,427.01-9.93
March 31, 2014C$1,418.16-8.85

📊 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

❓ 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

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$1,484.57
Per GramC$47.73
Per KilogramC$47,729.96
Per Pennyweight (1.555g)C$74.23
Per Tola (11.66g)C$556.71

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