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GOLD PRICE IN NUNAVUT — FEBRUARY 2020

C$2,119.13 avg/oz

During February 2020, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$2,061.10 to C$2,216.43 per ounce, with a monthly average of C$2,119.13. The month opened at C$2,088.28 and closed at C$2,093.74, a gain of C$5.46. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — FEBRUARY 2020

DateClose (CAD)Change
February 3, 2020C$2,088.28-2.94
February 4, 2020C$2,061.10-27.18
February 5, 2020C$2,069.13+8.03
February 6, 2020C$2,079.13+10.00
February 7, 2020C$2,083.73+4.60
February 10, 2020C$2,095.86+12.13
February 11, 2020C$2,084.91-10.95
February 12, 2020C$2,083.14-1.77
February 13, 2020C$2,087.97+4.83
February 14, 2020C$2,099.28+11.31
February 18, 2020C$2,117.60+18.32
February 19, 2020C$2,130.53+12.93
February 20, 2020C$2,137.21+6.68
February 21, 2020C$2,180.71+43.50
February 24, 2020C$2,216.43+35.72
February 25, 2020C$2,188.30-28.13
February 26, 2020C$2,177.79-10.51
February 27, 2020C$2,188.63+10.84
February 28, 2020C$2,093.74-94.89

📊 Gold Market Analysis

Gold demand in Canada has grown significantly over the past decade, driven by institutional investors, ETF flows, and retail buyers seeking portfolio diversification. The Royal Canadian Mint's Gold Maple Leaf remains one of the world's most widely traded bullion coins. Exchange-traded funds (ETFs) like SPDR Gold Shares (GLD) and iShares Gold Bullion ETF (CGL.TO) offer paper gold exposure. However, physical bullion provides tangible ownership without counterparty risk. Canadian investors should weigh convenience (ETFs) against security (physical) when building gold allocations.

❓ 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)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,119.13
Per GramC$68.13
Per KilogramC$68,131.51
Per Pennyweight (1.555g)C$105.96
Per Tola (11.66g)C$794.67

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