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GOLD PRICE IN PRINCE EDWARD ISLAND — OCTOBER 2005

C$553.33 avg/oz

During October 2005, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$542.64 to C$561.02 per ounce, with a monthly average of C$553.33. The month opened at C$543.57 and closed at C$549.79, a gain of C$6.22. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — OCTOBER 2005

DateClose (CAD)Change
October 3, 2005C$543.57-1.78
October 4, 2005C$546.41+2.84
October 5, 2005C$550.88+4.47
October 6, 2005C$557.03+6.15
October 7, 2005C$557.25+0.22
October 10, 2005C$558.29+1.04
October 11, 2005C$561.02+2.73
October 12, 2005C$554.98-6.04
October 13, 2005C$556.65+1.67
October 14, 2005C$555.86-0.79
October 17, 2005C$559.25+3.39
October 18, 2005C$555.28-3.97
October 19, 2005C$544.94-10.34
October 20, 2005C$542.64-2.30
October 21, 2005C$555.17+12.53
October 24, 2005C$551.91-3.26
October 25, 2005C$556.01+4.10
October 26, 2005C$551.40-4.61
October 27, 2005C$554.87+3.47
October 28, 2005C$556.72+1.85
October 31, 2005C$549.79-6.93

📊 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$553.33
Per GramC$17.79
Per KilogramC$17,789.95
Per Pennyweight (1.555g)C$27.67
Per Tola (11.66g)C$207.50

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