Home›Provinces›Prince Edward Island›April 2020

GOLD PRICE IN PRINCE EDWARD ISLAND — APRIL 2020

C$2,382.83 avg/oz

During April 2020, gold dealers serving Prince Edward Island based pricing on CAD spot prices ranging from C$2,221.79 to C$2,458.48 per ounce, with a monthly average of C$2,382.83. The month opened at C$2,221.79 and closed at C$2,336.71, a gain of C$114.92. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Prince Edward Island.

DAILY PRICES — APRIL 2020

DateClose (CAD)Change
April 1, 2020C$2,221.79-23.27
April 2, 2020C$2,300.59+78.80
April 3, 2020C$2,308.30+7.71
April 6, 2020C$2,390.06+81.76
April 7, 2020C$2,349.42-40.64
April 8, 2020C$2,333.89-15.53
April 9, 2020C$2,431.34+97.45
April 13, 2020C$2,437.21+5.87
April 14, 2020C$2,437.09-0.12
April 15, 2020C$2,397.51-39.58
April 16, 2020C$2,429.05+31.54
April 17, 2020C$2,371.55-57.50
April 20, 2020C$2,390.41+18.86
April 21, 2020C$2,371.16-19.25
April 22, 2020C$2,452.85+81.69
April 23, 2020C$2,458.48+5.63
April 24, 2020C$2,424.10-34.38
April 27, 2020C$2,415.15-8.95
April 28, 2020C$2,400.89-14.26
April 29, 2020C$2,381.86-19.03
April 30, 2020C$2,336.71-45.15

📊 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$2,382.83
Per GramC$76.61
Per KilogramC$76,609.65
Per Pennyweight (1.555g)C$119.14
Per Tola (11.66g)C$893.56

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