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GOLD PRICE IN ONTARIO — JULY 2019

C$1,851.20 avg/oz

During July 2019, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$1,813.81 to C$1,881.99 per ounce, with a monthly average of C$1,851.20. The month opened at C$1,813.81 and closed at C$1,874.98, a gain of C$61.17. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — JULY 2019

DateClose (CAD)Change
July 1, 2019C$1,813.81-32.09
July 2, 2019C$1,844.52+30.71
July 3, 2019C$1,856.62+12.10
July 5, 2019C$1,822.47-34.15
July 8, 2019C$1,826.66+4.19
July 9, 2019C$1,831.02+4.36
July 10, 2019C$1,850.76+19.74
July 11, 2019C$1,835.84-14.92
July 12, 2019C$1,842.39+6.55
July 15, 2019C$1,839.48-2.91
July 16, 2019C$1,838.65-0.83
July 17, 2019C$1,859.98+21.33
July 18, 2019C$1,861.49+1.51
July 19, 2019C$1,857.70-3.79
July 22, 2019C$1,860.30+2.60
July 23, 2019C$1,864.02+3.72
July 24, 2019C$1,869.43+5.41
July 25, 2019C$1,858.26-11.17
July 26, 2019C$1,866.46+8.20
July 29, 2019C$1,869.47+3.01
July 30, 2019C$1,881.99+12.52
July 31, 2019C$1,874.98-7.01

📊 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$1,851.20
Per GramC$59.52
Per KilogramC$59,517.38
Per Pennyweight (1.555g)C$92.56
Per Tola (11.66g)C$694.20

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