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GOLD PRICE IN SASKATCHEWAN — AUGUST 2002

C$418.70 avg/oz

During August 2002, gold dealers serving Saskatchewan based pricing on CAD spot prices ranging from C$410.40 to C$424.30 per ounce, with a monthly average of C$418.70. The month opened at C$410.40 and closed at C$421.74, a gain of C$11.34. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Saskatchewan.

DAILY PRICES — AUGUST 2002

DateClose (CAD)Change
August 1, 2002C$410.40+1.08
August 2, 2002C$414.45+4.05
August 5, 2002C$415.53+1.08
August 6, 2002C$412.43-3.10
August 7, 2002C$424.30+11.87
August 8, 2002C$419.04-5.26
August 9, 2002C$424.17+5.13
August 12, 2002C$424.04-0.13
August 13, 2002C$424.17+0.13
August 14, 2002C$420.93-3.24
August 15, 2002C$424.30+3.37
August 16, 2002C$423.50-0.80
August 19, 2002C$413.10-10.40
August 20, 2002C$416.75+3.65
August 21, 2002C$415.26-1.49
August 22, 2002C$413.91-1.35
August 23, 2002C$414.05+0.14
August 26, 2002C$417.69+3.64
August 27, 2002C$421.60+3.91
August 28, 2002C$417.69-3.91
August 29, 2002C$422.41+4.72
August 30, 2002C$421.74-0.67

📊 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

❓ 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$418.70
Per GramC$13.46
Per KilogramC$13,461.50
Per Pennyweight (1.555g)C$20.93
Per Tola (11.66g)C$157.01

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