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GOLD PRICE IN ONTARIO — SEPTEMBER 2017

C$1,614.67 avg/oz

During September 2017, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$1,586.76 to C$1,662.34 per ounce, with a monthly average of C$1,614.67. The month opened at C$1,651.92 and closed at C$1,593.71, a loss of C$58.21. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — SEPTEMBER 2017

DateClose (CAD)Change
September 1, 2017C$1,651.92-10.10
September 5, 2017C$1,662.34+10.42
September 6, 2017C$1,649.78-12.56
September 7, 2017C$1,645.49-4.29
September 8, 2017C$1,629.83-15.66
September 11, 2017C$1,617.35-12.48
September 12, 2017C$1,607.85-9.50
September 13, 2017C$1,611.11+3.26
September 14, 2017C$1,612.05+0.94
September 15, 2017C$1,606.00-6.05
September 18, 2017C$1,593.42-12.58
September 19, 2017C$1,604.03+10.61
September 20, 2017C$1,612.41+8.38
September 21, 2017C$1,593.30-19.11
September 22, 2017C$1,593.85+0.55
September 25, 2017C$1,613.38+19.53
September 26, 2017C$1,604.41-8.97
September 27, 2017C$1,586.76-17.65
September 28, 2017C$1,604.51+17.75
September 29, 2017C$1,593.71-10.80

📊 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$1,614.67
Per GramC$51.91
Per KilogramC$51,912.77
Per Pennyweight (1.555g)C$80.73
Per Tola (11.66g)C$605.50

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