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GOLD PRICE IN PRINCE EDWARD ISLAND — FEBRUARY 2016

C$1,659.17 avg/oz

During February 2016, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$1,572.58 to C$1,737.45 per ounce, with a monthly average of C$1,659.17. The month opened at C$1,575.99 and closed at C$1,671.56, a gain of C$95.57. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — FEBRUARY 2016

DateClose (CAD)Change
February 1, 2016C$1,575.99+9.20
February 2, 2016C$1,572.58-3.41
February 3, 2016C$1,604.67+32.09
February 4, 2016C$1,596.82-7.85
February 5, 2016C$1,592.58-4.24
February 8, 2016C$1,663.04+70.46
February 9, 2016C$1,669.19+6.15
February 10, 2016C$1,658.63-10.56
February 11, 2016C$1,737.45+78.82
February 12, 2016C$1,724.37-13.08
February 16, 2016C$1,669.55-54.82
February 17, 2016C$1,679.21+9.66
February 18, 2016C$1,676.99-2.22
February 19, 2016C$1,690.31+13.32
February 22, 2016C$1,667.78-22.53
February 23, 2016C$1,674.92+7.14
February 24, 2016C$1,709.03+34.11
February 25, 2016C$1,696.71-12.32
February 26, 2016C$1,652.10-44.61
February 29, 2016C$1,671.56+19.46

📊 Gold Market Analysis

Gold has historically served as an effective hedge against inflation and currency depreciation in Canada. Central bank policies, including the Bank of Canada's interest rate decisions, directly influence the attractiveness of gold relative to fixed-income investments. Gold mining stocks on the TSX (Toronto Stock Exchange) — including Barrick Gold, Agnico Eagle, and Kinross Gold — offer leveraged exposure to gold prices. However, physical bullion provides direct price exposure without management risk, dilution, or operational challenges. Many Canadian financial advisors recommend a mix of both.

❓ 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

Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$1,659.17
Per GramC$53.34
Per KilogramC$53,343.48
Per Pennyweight (1.555g)C$82.96
Per Tola (11.66g)C$622.19

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