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GOLD PRICE IN ONTARIO — MARCH 2022

C$2,469.47 avg/oz

During March 2022, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$2,393.48 to C$2,611.61 per ounce, with a monthly average of C$2,469.47. The month opened at C$2,460.34 and closed at C$2,433.05, a loss of C$27.29. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — MARCH 2022

DateClose (CAD)Change
March 1, 2022C$2,460.34+37.62
March 2, 2022C$2,444.06-16.28
March 3, 2022C$2,446.26+2.20
March 4, 2022C$2,489.84+43.58
March 7, 2022C$2,535.06+45.22
March 8, 2022C$2,611.61+76.55
March 9, 2022C$2,559.63-51.98
March 10, 2022C$2,557.27-2.36
March 11, 2022C$2,529.11-28.16
March 14, 2022C$2,495.63-33.48
March 15, 2022C$2,472.55-23.08
March 16, 2022C$2,436.29-36.26
March 17, 2022C$2,463.90+27.61
March 18, 2022C$2,435.63-28.27
March 21, 2022C$2,431.15-4.48
March 22, 2022C$2,417.78-13.37
March 23, 2022C$2,436.79+19.01
March 24, 2022C$2,463.61+26.82
March 25, 2022C$2,446.24-17.37
March 28, 2022C$2,422.00-24.24
March 29, 2022C$2,393.48-28.52
March 30, 2022C$2,416.47+22.99
March 31, 2022C$2,433.05+16.58

📊 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$2,469.47
Per GramC$79.40
Per KilogramC$79,395.19
Per Pennyweight (1.555g)C$123.47
Per Tola (11.66g)C$926.05

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