Home›Provinces›Prince Edward Island›August 2017

GOLD PRICE IN PRINCE EDWARD ISLAND — AUGUST 2017

C$1,618.50 avg/oz

During August 2017, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$1,581.47 to C$1,662.02 per ounce, with a monthly average of C$1,618.50. The month opened at C$1,591.64 and closed at C$1,662.02, a gain of C$70.38. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — AUGUST 2017

DateClose (CAD)Change
August 1, 2017C$1,591.64+13.28
August 2, 2017C$1,595.66+4.02
August 3, 2017C$1,593.88-1.78
August 4, 2017C$1,581.47-12.41
August 7, 2017C$1,590.49+9.02
August 8, 2017C$1,592.49+2.00
August 9, 2017C$1,612.99+20.50
August 10, 2017C$1,629.68+16.69
August 11, 2017C$1,640.45+10.77
August 14, 2017C$1,627.54-12.91
August 15, 2017C$1,621.31-6.23
August 16, 2017C$1,628.42+7.11
August 17, 2017C$1,624.02-4.40
August 18, 2017C$1,630.78+6.76
August 21, 2017C$1,624.56-6.22
August 22, 2017C$1,613.88-10.68
August 23, 2017C$1,619.54+5.66
August 24, 2017C$1,613.70-5.84
August 25, 2017C$1,617.29+3.59
August 28, 2017C$1,633.43+16.14
August 29, 2017C$1,643.24+9.81
August 30, 2017C$1,637.02-6.22
August 31, 2017C$1,662.02+25.00

📊 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

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$1,618.50
Per GramC$52.04
Per KilogramC$52,035.91
Per Pennyweight (1.555g)C$80.92
Per Tola (11.66g)C$606.94

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