Home›Provinces›Ontario›June 2023

GOLD PRICE IN ONTARIO — JUNE 2023

C$2,582.93 avg/oz

During June 2023, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$2,516.91 to C$2,683.35 per ounce, with a monthly average of C$2,582.93. The month opened at C$2,683.35 and closed at C$2,545.46, a loss of C$137.89. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — JUNE 2023

DateClose (CAD)Change
June 1, 2023C$2,683.35+12.50
June 2, 2023C$2,624.61-58.74
June 5, 2023C$2,629.26+4.65
June 6, 2023C$2,643.20+13.94
June 7, 2023C$2,602.95-40.25
June 8, 2023C$2,625.65+22.70
June 9, 2023C$2,621.89-3.76
June 12, 2023C$2,607.74-14.15
June 13, 2023C$2,598.57-9.17
June 14, 2023C$2,603.42+4.85
June 15, 2023C$2,609.04+5.62
June 16, 2023C$2,589.38-19.66
June 20, 2023C$2,556.70-32.68
June 21, 2023C$2,556.91+0.21
June 22, 2023C$2,517.30-39.61
June 23, 2023C$2,522.83+5.53
June 26, 2023C$2,532.49+9.66
June 27, 2023C$2,516.91-15.58
June 28, 2023C$2,523.80+6.89
June 29, 2023C$2,530.03+6.23
June 30, 2023C$2,545.46+15.43

📊 Gold Market Analysis

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. The London Bullion Market Association (LBMA) sets the benchmark gold price twice daily through electronic auction. This price, quoted in USD, is then converted to CAD using the prevailing exchange rate. Canadian dealers like Kitco update their premiums every 10–30 seconds based on these spot movements.

❓ Frequently Asked Questions

❓ 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.

❓ Where can I buy gold in my province?

Most Canadians buy gold online from national dealers (Kitco, Sprott Money, SilverGoldBull) with insured shipping to any province. Some metropolitan areas have local coin shops. The Royal Canadian Mint operates a retail store in Ottawa, Ontario.

❓ 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.

💡 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$2,582.93
Per GramC$83.04
Per KilogramC$83,043.01
Per Pennyweight (1.555g)C$129.15
Per Tola (11.66g)C$968.60

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