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GOLD PRICE IN SASKATCHEWAN — FEBRUARY 2011

C$1,358.21 avg/oz

During February 2011, gold dealers serving Saskatchewan based pricing on CAD spot prices ranging from C$1,318.45 to C$1,398.90 per ounce, with a monthly average of C$1,358.21. The month opened at C$1,339.47 and closed at C$1,377.73, a gain of C$38.26. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Saskatchewan.

DAILY PRICES — FEBRUARY 2011

DateClose (CAD)Change
February 1, 2011C$1,339.47+2.60
February 2, 2011C$1,318.45-21.02
February 3, 2011C$1,335.40+16.95
February 4, 2011C$1,335.90+0.50
February 7, 2011C$1,330.75-5.15
February 8, 2011C$1,349.90+19.15
February 9, 2011C$1,358.25+8.35
February 10, 2011C$1,353.72-4.53
February 11, 2011C$1,354.19+0.47
February 14, 2011C$1,346.86-7.33
February 15, 2011C$1,359.18+12.32
February 16, 2011C$1,360.14+0.96
February 17, 2011C$1,363.10+2.96
February 18, 2011C$1,365.85+2.75
February 22, 2011C$1,376.13+10.28
February 23, 2011C$1,398.70+22.57
February 24, 2011C$1,398.90+0.20
February 25, 2011C$1,383.40-15.50
February 28, 2011C$1,377.73-5.67

📊 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$1,358.21
Per GramC$43.67
Per KilogramC$43,667.40
Per Pennyweight (1.555g)C$67.91
Per Tola (11.66g)C$509.33

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