Home›Provinces›Ontario›February 2024

GOLD PRICE IN ONTARIO — FEBRUARY 2024

C$2,732.45 avg/oz

During February 2024, gold dealers serving Ontario based pricing on CAD spot prices ranging from C$2,681.51 to C$2,777.55 per ounce, with a monthly average of C$2,732.45. The month opened at C$2,758.31 and closed at C$2,777.55, a gain of C$19.24. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Ontario.

DAILY PRICES — FEBRUARY 2024

DateClose (CAD)Change
February 1, 2024C$2,758.31+13.11
February 2, 2024C$2,724.91-33.40
February 5, 2024C$2,728.64+3.73
February 6, 2024C$2,755.32+26.68
February 7, 2024C$2,745.34-9.98
February 8, 2024C$2,736.15-9.19
February 9, 2024C$2,723.36-12.79
February 12, 2024C$2,716.05-7.31
February 13, 2024C$2,681.51-34.54
February 14, 2024C$2,700.00+18.49
February 15, 2024C$2,710.58+10.58
February 16, 2024C$2,708.55-2.03
February 20, 2024C$2,736.72+28.17
February 21, 2024C$2,734.53-2.19
February 22, 2024C$2,725.99-8.54
February 23, 2024C$2,748.32+22.33
February 26, 2024C$2,739.94-8.38
February 27, 2024C$2,746.16+6.22
February 28, 2024C$2,750.99+4.83
February 29, 2024C$2,777.55+26.56

📊 Gold Market Analysis

Gold demand in Canada has grown significantly over the past decade, driven by institutional investors, ETF flows, and retail buyers seeking portfolio diversification. The Royal Canadian Mint's Gold Maple Leaf remains one of the world's most widely traded bullion coins. Central banks worldwide purchased over 1,000 tonnes of gold annually in 2023–2025, led by China, India, and Turkey. This institutional buying has provided a structural floor under gold prices. Canada is unique among G7 nations in holding zero gold reserves since 2016, making private gold ownership more significant for national wealth preservation.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

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.

Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$2,732.45
Per GramC$87.85
Per KilogramC$87,850.18
Per Pennyweight (1.555g)C$136.62
Per Tola (11.66g)C$1,024.67

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