Home›Provinces›Prince Edward Island›May 2008

GOLD PRICE IN PRINCE EDWARD ISLAND — MAY 2008

C$887.59 avg/oz

During May 2008, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$855.69 to C$914.49 per ounce, with a monthly average of C$887.59. The month opened at C$855.69 and closed at C$881.44, a gain of C$25.75. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — MAY 2008

DateClose (CAD)Change
May 1, 2008C$855.69-14.01
May 2, 2008C$871.25+15.56
May 5, 2008C$883.55+12.30
May 6, 2008C$878.10-5.45
May 7, 2008C$877.08-1.02
May 8, 2008C$895.13+18.05
May 9, 2008C$889.54-5.59
May 12, 2008C$888.30-1.24
May 13, 2008C$871.71-16.59
May 14, 2008C$868.95-2.76
May 15, 2008C$878.65+9.70
May 16, 2008C$899.00+20.35
May 19, 2008C$897.58-1.42
May 20, 2008C$912.33+14.75
May 21, 2008C$912.97+0.64
May 22, 2008C$903.58-9.39
May 23, 2008C$914.49+10.91
May 27, 2008C$901.98-12.51
May 28, 2008C$890.77-11.21
May 29, 2008C$867.29-23.48
May 30, 2008C$881.44+14.15

📊 Gold Market Analysis

Market technicals for gold in CAD incorporate both the underlying commodity trend and currency movements. Support and resistance levels for XAU/CAD often differ from XAU/USD due to the additional variable of Canadian Dollar strength. Seasonal gold price patterns show that gold tends to perform well in January (New Year investment flows), August–September (Indian wedding season demand), and during year-end tax-loss harvesting. Canadian investors can use these seasonal trends to time bullion purchases for potentially better entry prices.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 Canadian Gold Investor Guide

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$887.59
Per GramC$28.54
Per KilogramC$28,536.64
Per Pennyweight (1.555g)C$44.38
Per Tola (11.66g)C$332.85

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