Home›Provinces›Prince Edward Island›December 2003

GOLD PRICE IN PRINCE EDWARD ISLAND — DECEMBER 2003

C$536.37 avg/oz

During December 2003, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$523.44 to C$547.47 per ounce, with a monthly average of C$536.37. The month opened at C$525.20 and closed at C$539.25, a gain of C$14.05. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — DECEMBER 2003

DateClose (CAD)Change
December 1, 2003C$525.20+7.85
December 2, 2003C$523.44-1.76
December 3, 2003C$525.11+1.67
December 4, 2003C$528.89+3.78
December 5, 2003C$529.50+0.61
December 8, 2003C$527.32-2.18
December 9, 2003C$533.39+6.07
December 10, 2003C$531.84-1.55
December 11, 2003C$532.58+0.74
December 12, 2003C$537.75+5.17
December 15, 2003C$537.48-0.27
December 16, 2003C$540.73+3.25
December 17, 2003C$546.56+5.83
December 18, 2003C$546.65+0.09
December 19, 2003C$547.47+0.82
December 22, 2003C$546.22-1.25
December 23, 2003C$543.01-3.21
December 24, 2003C$538.88-4.13
December 29, 2003C$542.97+4.09
December 30, 2003C$539.55-3.42
December 31, 2003C$539.25-0.30

📊 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

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.

Portfolio Allocation: Most Canadian financial planners recommend allocating 5–15% of a diversified portfolio to gold and precious metals. This allocation provides downside protection during equity bear markets while maintaining growth potential during inflationary periods.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$536.37
Per GramC$17.24
Per KilogramC$17,244.67
Per Pennyweight (1.555g)C$26.82
Per Tola (11.66g)C$201.14

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