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GOLD PRICE IN ONTARIO — AUGUST 2009

C$1,032.31 avg/oz

During August 2009, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$1,015.23 to C$1,042.94 per ounce, with a monthly average of C$1,032.31. The month opened at C$1,019.74 and closed at C$1,041.16, a gain of C$21.42. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — AUGUST 2009

DateClose (CAD)Change
August 3, 2009C$1,019.74-8.83
August 4, 2009C$1,035.23+15.49
August 5, 2009C$1,032.27-2.96
August 6, 2009C$1,034.58+2.31
August 7, 2009C$1,032.54-2.04
August 10, 2009C$1,028.54-4.00
August 11, 2009C$1,040.19+11.65
August 12, 2009C$1,035.60-4.59
August 13, 2009C$1,037.95+2.35
August 14, 2009C$1,040.18+2.23
August 17, 2009C$1,033.62-6.56
August 18, 2009C$1,031.66-1.96
August 19, 2009C$1,031.88+0.22
August 20, 2009C$1,023.05-8.83
August 21, 2009C$1,031.36+8.31
August 24, 2009C$1,015.23-16.13
August 25, 2009C$1,026.86+11.63
August 26, 2009C$1,036.46+9.60
August 27, 2009C$1,027.57-8.89
August 28, 2009C$1,042.94+15.37
August 31, 2009C$1,041.16-1.78

📊 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$1,032.31
Per GramC$33.19
Per KilogramC$33,189.49
Per Pennyweight (1.555g)C$51.62
Per Tola (11.66g)C$387.12

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