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GOLD PRICE IN NUNAVUT — SEPTEMBER 2020

C$2,537.03 avg/oz

During September 2020, gold dealers serving Nunavut based pricing on CAD spot prices ranging from C$2,473.11 to C$2,586.05 per ounce, with a monthly average of C$2,537.03. The month opened at C$2,565.55 and closed at C$2,526.19, a loss of C$39.36. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Nunavut.

DAILY PRICES — SEPTEMBER 2020

DateClose (CAD)Change
September 1, 2020C$2,565.55-8.13
September 2, 2020C$2,524.97-40.58
September 3, 2020C$2,514.48-10.49
September 4, 2020C$2,527.95+13.47
September 8, 2020C$2,531.42+3.47
September 9, 2020C$2,574.61+43.19
September 10, 2020C$2,570.26-4.35
September 11, 2020C$2,555.86-14.40
September 14, 2020C$2,574.42+18.56
September 15, 2020C$2,577.76+3.34
September 16, 2020C$2,586.05+8.29
September 17, 2020C$2,557.21-28.84
September 18, 2020C$2,567.05+9.84
September 21, 2020C$2,509.05-58.00
September 22, 2020C$2,525.14+16.09
September 23, 2020C$2,473.11-52.03
September 24, 2020C$2,500.44+27.33
September 25, 2020C$2,480.29-20.15
September 28, 2020C$2,505.58+25.29
September 29, 2020C$2,530.18+24.60
September 30, 2020C$2,526.19-3.99

📊 Gold Market Analysis

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. Gold mining stocks on the TSX (Toronto Stock Exchange) — including Barrick Gold, Agnico Eagle, and Kinross Gold — offer leveraged exposure to gold prices. However, physical bullion provides direct price exposure without management risk, dilution, or operational challenges. Many Canadian financial advisors recommend a mix of both.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

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.

Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,537.03
Per GramC$81.57
Per KilogramC$81,567.29
Per Pennyweight (1.555g)C$126.85
Per Tola (11.66g)C$951.39

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