Home›Provinces›Prince Edward Island›September 2007

GOLD PRICE IN PRINCE EDWARD ISLAND — SEPTEMBER 2007

C$732.79 avg/oz

During September 2007, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$715.87 to C$742.40 per ounce, with a monthly average of C$732.79. The month opened at C$715.87 and closed at C$739.68, a gain of C$23.81. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — SEPTEMBER 2007

DateClose (CAD)Change
September 4, 2007C$715.87+5.11
September 5, 2007C$718.17+2.30
September 6, 2007C$731.42+13.25
September 7, 2007C$738.92+7.50
September 10, 2007C$741.56+2.64
September 11, 2007C$742.40+0.84
September 12, 2007C$737.88-4.52
September 13, 2007C$734.33-3.55
September 14, 2007C$730.18-4.15
September 17, 2007C$735.70+5.52
September 18, 2007C$725.82-9.88
September 19, 2007C$732.34+6.52
September 20, 2007C$732.99+0.65
September 21, 2007C$731.84-1.15
September 24, 2007C$733.93+2.09
September 25, 2007C$734.60+0.67
September 26, 2007C$731.36-3.24
September 27, 2007C$734.02+2.66
September 28, 2007C$739.68+5.66

📊 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$732.79
Per GramC$23.56
Per KilogramC$23,559.71
Per Pennyweight (1.555g)C$36.64
Per Tola (11.66g)C$274.80

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