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GOLD PRICE IN ONTARIO — NOVEMBER 2005

C$562.24 avg/oz

During November 2005, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$539.69 to C$583.45 per ounce, with a monthly average of C$562.24. The month opened at C$539.69 and closed at C$576.75, a gain of C$37.06. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — NOVEMBER 2005

DateClose (CAD)Change
November 1, 2005C$539.69-10.10
November 2, 2005C$546.06+6.37
November 3, 2005C$543.47-2.59
November 4, 2005C$540.58-2.89
November 7, 2005C$544.79+4.21
November 8, 2005C$546.86+2.07
November 9, 2005C$553.22+6.36
November 10, 2005C$555.49+2.27
November 11, 2005C$557.04+1.55
November 14, 2005C$559.03+1.99
November 15, 2005C$558.26-0.77
November 16, 2005C$570.56+12.30
November 17, 2005C$577.61+7.05
November 18, 2005C$576.99-0.62
November 21, 2005C$578.24+1.25
November 22, 2005C$578.21-0.03
November 23, 2005C$576.59-1.62
November 28, 2005C$581.86+5.27
November 29, 2005C$583.45+1.59
November 30, 2005C$576.75-6.70

📊 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

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$562.24
Per GramC$18.08
Per KilogramC$18,076.41
Per Pennyweight (1.555g)C$28.11
Per Tola (11.66g)C$210.84

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