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GOLD PRICE IN YUKON — JULY 2020

C$2,494.49 avg/oz

During July 2020, gold dealers serving Yukon based pricing on CAD spot prices ranging from C$2,406.98 to C$2,632.66 per ounce, with a monthly average of C$2,494.49. The month opened at C$2,406.98 and closed at C$2,632.66, a gain of C$225.68. Investment-grade gold (99.5%+ purity) remains GST/HST-exempt in Yukon.

DAILY PRICES — JULY 2020

DateClose (CAD)Change
July 1, 2020C$2,406.98-41.65
July 2, 2020C$2,424.63+17.65
July 6, 2020C$2,423.26-1.37
July 7, 2020C$2,442.69+19.43
July 8, 2020C$2,469.81+27.12
July 9, 2020C$2,432.01-37.80
July 10, 2020C$2,441.96+9.95
July 13, 2020C$2,462.60+20.64
July 14, 2020C$2,464.30+1.70
July 15, 2020C$2,463.40-0.90
July 16, 2020C$2,429.49-33.91
July 17, 2020C$2,453.66+24.17
July 20, 2020C$2,465.05+11.39
July 21, 2020C$2,491.83+26.78
July 22, 2020C$2,506.80+14.97
July 23, 2020C$2,534.64+27.84
July 24, 2020C$2,543.10+8.46
July 27, 2020C$2,590.78+47.68
July 28, 2020C$2,594.02+3.24
July 29, 2020C$2,613.70+19.68
July 30, 2020C$2,591.42-22.28
July 31, 2020C$2,632.66+41.24

📊 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$2,494.49
Per GramC$80.20
Per KilogramC$80,199.60
Per Pennyweight (1.555g)C$124.72
Per Tola (11.66g)C$935.43

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