Home›Provinces›Prince Edward Island›March 2012

GOLD PRICE IN PRINCE EDWARD ISLAND — MARCH 2012

C$1,663.43 avg/oz

During March 2012, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$1,623.12 to C$1,701.14 per ounce, with a monthly average of C$1,663.43. The month opened at C$1,701.14 and closed at C$1,663.29, a loss of C$37.85. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — MARCH 2012

DateClose (CAD)Change
March 1, 2012C$1,701.14+2.01
March 2, 2012C$1,683.60-17.54
March 5, 2012C$1,684.95+1.35
March 6, 2012C$1,661.04-23.91
March 7, 2012C$1,685.15+24.11
March 8, 2012C$1,695.04+9.89
March 9, 2012C$1,694.30-0.74
March 12, 2012C$1,682.72-11.58
March 13, 2012C$1,679.13-3.59
March 14, 2012C$1,623.12-56.01
March 15, 2012C$1,648.65+25.53
March 16, 2012C$1,642.59-6.06
March 19, 2012C$1,651.81+9.22
March 20, 2012C$1,626.28-25.53
March 21, 2012C$1,635.15+8.87
March 22, 2012C$1,629.00-6.15
March 23, 2012C$1,660.14+31.14
March 26, 2012C$1,679.43+19.29
March 27, 2012C$1,670.14-9.29
March 28, 2012C$1,650.44-19.70
March 29, 2012C$1,648.40-2.04
March 30, 2012C$1,663.29+14.89

📊 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$1,663.43
Per GramC$53.48
Per KilogramC$53,480.44
Per Pennyweight (1.555g)C$83.17
Per Tola (11.66g)C$623.79

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