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GOLD PRICE IN PRINCE EDWARD ISLAND — FEBRUARY 2017

C$1,617.44 avg/oz

During February 2017, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$1,571.62 to C$1,651.79 per ounce, with a monthly average of C$1,617.44. The month opened at C$1,571.62 and closed at C$1,651.79, a gain of C$80.17. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — FEBRUARY 2017

DateClose (CAD)Change
February 1, 2017C$1,571.62-11.92
February 2, 2017C$1,587.64+16.02
February 3, 2017C$1,587.74+0.10
February 6, 2017C$1,601.24+13.50
February 7, 2017C$1,614.95+13.71
February 8, 2017C$1,632.43+17.48
February 9, 2017C$1,623.64-8.79
February 10, 2017C$1,621.14-2.50
February 13, 2017C$1,606.16-14.98
February 14, 2017C$1,599.82-6.34
February 15, 2017C$1,611.21+11.39
February 16, 2017C$1,620.39+9.18
February 17, 2017C$1,618.19-2.20
February 21, 2017C$1,621.77+3.58
February 22, 2017C$1,619.62-2.15
February 23, 2017C$1,645.84+26.22
February 24, 2017C$1,646.61+0.77
February 27, 2017C$1,649.62+3.01
February 28, 2017C$1,651.79+2.17

📊 Gold Market Analysis

The precious metals market in Canada is influenced by multiple factors including global supply and demand, mining production costs, central bank reserves management, and macroeconomic indicators such as GDP growth, unemployment rates, and consumer price inflation. The London Bullion Market Association (LBMA) sets the benchmark gold price twice daily through electronic auction. This price, quoted in USD, is then converted to CAD using the prevailing exchange rate. Canadian dealers like Kitco update their premiums every 10–30 seconds based on these spot movements.

❓ Frequently Asked Questions

❓ 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.

❓ 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.

💡 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$1,617.44
Per GramC$52.00
Per KilogramC$52,001.83
Per Pennyweight (1.555g)C$80.87
Per Tola (11.66g)C$606.54

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