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GOLD PRICE IN SASKATCHEWAN — JANUARY 2021

C$2,371.99 avg/oz

During January 2021, gold dealers serving Saskatchewan based pricing on CAD spot prices ranging from C$2,313.64 to C$2,495.75 per ounce, with a monthly average of C$2,371.99. The month opened at C$2,474.07 and closed at C$2,370.25, a loss of C$103.82. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Saskatchewan.

DAILY PRICES — JANUARY 2021

DateClose (CAD)Change
January 4, 2021C$2,474.07+60.24
January 5, 2021C$2,495.75+21.68
January 6, 2021C$2,416.94-78.81
January 7, 2021C$2,422.00+5.06
January 8, 2021C$2,326.34-95.66
January 11, 2021C$2,354.69+28.35
January 12, 2021C$2,353.64-1.05
January 13, 2021C$2,355.50+1.86
January 14, 2021C$2,349.53-5.97
January 15, 2021C$2,313.64-35.89
January 19, 2021C$2,344.99+31.35
January 20, 2021C$2,373.93+28.94
January 21, 2021C$2,355.13-18.80
January 22, 2021C$2,346.85-8.28
January 25, 2021C$2,359.97+13.12
January 26, 2021C$2,357.33-2.64
January 27, 2021C$2,341.90-15.43
January 28, 2021C$2,355.45+13.55
January 29, 2021C$2,370.25+14.80

📊 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$2,371.99
Per GramC$76.26
Per KilogramC$76,261.14
Per Pennyweight (1.555g)C$118.60
Per Tola (11.66g)C$889.50

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