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GOLD PRICE IN SASKATCHEWAN — JULY 2016

C$1,743.68 avg/oz

During July 2016, gold dealers serving Saskatchewan based pricing on CAD spot prices ranging from C$1,712.29 to C$1,775.13 per ounce, with a monthly average of C$1,743.68. The month opened at C$1,732.10 and closed at C$1,774.19, a gain of C$42.09. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Saskatchewan.

DAILY PRICES — JULY 2016

DateClose (CAD)Change
July 1, 2016C$1,732.10+26.84
July 5, 2016C$1,745.32+13.22
July 6, 2016C$1,775.13+29.81
July 7, 2016C$1,762.69-12.44
July 8, 2016C$1,763.17+0.48
July 11, 2016C$1,767.60+4.43
July 12, 2016C$1,750.74-16.86
July 13, 2016C$1,752.85+2.11
July 14, 2016C$1,727.27-25.58
July 15, 2016C$1,712.29-14.98
July 18, 2016C$1,721.19+8.90
July 19, 2016C$1,725.36+4.17
July 20, 2016C$1,717.95-7.41
July 21, 2016C$1,738.59+20.64
July 22, 2016C$1,729.78-8.81
July 25, 2016C$1,732.97+3.19
July 26, 2016C$1,746.35+13.38
July 27, 2016C$1,747.86+1.51
July 28, 2016C$1,750.28+2.42
July 29, 2016C$1,774.19+23.91

📊 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$1,743.68
Per GramC$56.06
Per KilogramC$56,060.53
Per Pennyweight (1.555g)C$87.18
Per Tola (11.66g)C$653.88

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