Home›Provinces›Prince Edward Island›May 2010

GOLD PRICE IN PRINCE EDWARD ISLAND — MAY 2010

C$1,253.94 avg/oz

During May 2010, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$1,195.47 to C$1,298.23 per ounce, with a monthly average of C$1,253.94. The month opened at C$1,195.47 and closed at C$1,277.66, a gain of C$82.19. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — MAY 2010

DateClose (CAD)Change
May 3, 2010C$1,195.47-5.87
May 4, 2010C$1,197.46+1.99
May 5, 2010C$1,210.43+12.97
May 6, 2010C$1,258.54+48.11
May 7, 2010C$1,261.30+2.76
May 10, 2010C$1,229.69-31.61
May 11, 2010C$1,246.01+16.32
May 12, 2010C$1,265.94+19.93
May 13, 2010C$1,254.97-10.97
May 14, 2010C$1,270.60+15.63
May 17, 2010C$1,268.09-2.51
May 18, 2010C$1,263.66-4.43
May 19, 2010C$1,244.55-19.11
May 20, 2010C$1,272.49+27.94
May 21, 2010C$1,244.01-28.48
May 24, 2010C$1,268.53+24.52
May 25, 2010C$1,278.89+10.36
May 26, 2010C$1,298.23+19.34
May 27, 2010C$1,272.37-25.86
May 28, 2010C$1,277.66+5.29

📊 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$1,253.94
Per GramC$40.32
Per KilogramC$40,315.05
Per Pennyweight (1.555g)C$62.70
Per Tola (11.66g)C$470.23

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