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GOLD PRICE IN ONTARIO — APRIL 2012

C$1,639.27 avg/oz

During April 2012, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$1,597.63 to C$1,685.04 per ounce, with a monthly average of C$1,639.27. The month opened at C$1,670.96 and closed at C$1,631.63, a loss of C$39.33. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — APRIL 2012

DateClose (CAD)Change
April 2, 2012C$1,670.96+7.67
April 3, 2012C$1,653.30-17.66
April 4, 2012C$1,597.63-55.67
April 5, 2012C$1,622.47+24.84
April 9, 2012C$1,638.23+15.76
April 10, 2012C$1,653.69+15.46
April 11, 2012C$1,666.96+13.27
April 12, 2012C$1,685.04+18.08
April 13, 2012C$1,650.31-34.73
April 16, 2012C$1,646.97-3.34
April 17, 2012C$1,649.80+2.83
April 18, 2012C$1,620.61-29.19
April 19, 2012C$1,625.51+4.90
April 20, 2012C$1,632.90+7.39
April 23, 2012C$1,620.64-12.26
April 24, 2012C$1,628.21+7.57
April 25, 2012C$1,619.57-8.64
April 26, 2012C$1,630.56+10.99
April 27, 2012C$1,640.37+9.81
April 30, 2012C$1,631.63-8.74

📊 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$1,639.27
Per GramC$52.70
Per KilogramC$52,703.68
Per Pennyweight (1.555g)C$81.96
Per Tola (11.66g)C$614.73

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