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GOLD PRICE IN QUEBEC — DECEMBER 2019

C$1,951.29 avg/oz

During December 2019, gold dealers serving Quebec based pricing on CAD spot prices ranging from C$1,922.51 to C$1,985.48 per ounce, with a monthly average of C$1,951.29. The month opened at C$1,942.50 and closed at C$1,984.56, a gain of C$42.06. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Quebec.

DAILY PRICES — DECEMBER 2019

DateClose (CAD)Change
December 2, 2019C$1,942.50-3.77
December 3, 2019C$1,966.45+23.95
December 4, 2019C$1,959.23-7.22
December 5, 2019C$1,948.43-10.80
December 6, 2019C$1,922.51-25.92
December 9, 2019C$1,933.54+11.03
December 10, 2019C$1,936.06+2.52
December 11, 2019C$1,944.16+8.10
December 12, 2019C$1,932.04-12.12
December 13, 2019C$1,940.81+8.77
December 16, 2019C$1,944.55+3.74
December 17, 2019C$1,941.02-3.53
December 18, 2019C$1,937.82-3.20
December 19, 2019C$1,938.50+0.68
December 20, 2019C$1,935.25-3.25
December 23, 2019C$1,948.95+13.70
December 24, 2019C$1,971.05+22.10
December 26, 2019C$1,985.48+14.43
December 27, 2019C$1,984.29-1.19
December 30, 2019C$1,979.97-4.32
December 31, 2019C$1,984.56+4.59

📊 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. Geopolitical tensions — including trade wars, military conflicts, and sanctions — historically drive gold higher as investors seek safe-haven assets. The Canadian Dollar, as a commodity currency tied to oil prices, can weaken independently during global uncertainty, creating a double tailwind for gold priced in CAD.

❓ 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

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.

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.

⚖️ Unit Conversions (CAD)

UnitPrice (CAD)
Per Troy Ounce (31.1g)C$1,951.29
Per GramC$62.74
Per KilogramC$62,735.34
Per Pennyweight (1.555g)C$97.56
Per Tola (11.66g)C$731.73

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