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GOLD PRICE IN NUNAVUT — AUGUST 2020

C$2,603.97 avg/oz

During August 2020, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$2,524.60 to C$2,721.27 per ounce, with a monthly average of C$2,603.97. The month opened at C$2,633.89 and closed at C$2,573.68, a loss of C$60.21. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — AUGUST 2020

DateClose (CAD)Change
August 3, 2020C$2,633.89+1.23
August 4, 2020C$2,680.41+46.52
August 5, 2020C$2,700.51+20.10
August 6, 2020C$2,721.27+20.76
August 7, 2020C$2,677.13-44.14
August 10, 2020C$2,710.02+32.89
August 11, 2020C$2,580.79-129.23
August 12, 2020C$2,575.45-5.34
August 13, 2020C$2,591.38+15.93
August 14, 2020C$2,560.64-30.74
August 17, 2020C$2,630.60+69.96
August 18, 2020C$2,643.57+12.97
August 19, 2020C$2,576.14-67.43
August 20, 2020C$2,554.98-21.16
August 21, 2020C$2,548.33-6.65
August 24, 2020C$2,540.69-7.64
August 25, 2020C$2,526.94-13.75
August 26, 2020C$2,554.54+27.60
August 27, 2020C$2,524.60-29.94
August 28, 2020C$2,577.87+53.27
August 31, 2020C$2,573.68-4.19

📊 Gold Market Analysis

Market technicals for gold in CAD incorporate both the underlying commodity trend and currency movements. Support and resistance levels for XAU/CAD often differ from XAU/USD due to the additional variable of Canadian Dollar strength. The gold-to-silver ratio, currently fluctuating between 80:1 and 90:1, is watched closely by precious metals investors. Historically, ratios above 80 suggest silver is undervalued relative to gold. Canadian investors can use this metric to decide whether to overweight gold or silver in their bullion portfolios when purchasing from dealers like Kitco or Sprott Money.

❓ 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

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$2,603.97
Per GramC$83.72
Per KilogramC$83,719.46
Per Pennyweight (1.555g)C$130.20
Per Tola (11.66g)C$976.49

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