Gold prices in the Philippines remained largely unchanged on Wednesday. The price per gram stood at 4,778.30 Philippine Pesos (PHP), slightly up from 4,775.89 PHP the previous day.
In terms of tola, gold prices also showed minimal fluctuation, closing at 55,732.90 PHP compared to 55,705.03 PHP on Tuesday.
Current Gold Prices in the Philippines
1 Gram: 4,778.30 PHP
10 Grams: 47,780.46 PHP
Tola: 55,732.90 PHP
Troy Ounce: 148,621.80 PHP
FXStreet calculates these gold prices by adjusting international rates (USD/PHP) to local currency and measurement units. Prices are updated daily based on market conditions at the time of publication and serve as a reference, as local rates may vary slightly.
Gold has historically been a significant store of value and medium of exchange. Today, it is primarily viewed as a safe-haven asset, particularly during economic turbulence. Investors often turn to gold as a hedge against inflation and currency depreciation, as its value is not reliant on any specific issuer or government.
Central banks are the largest holders of gold, diversifying their reserves to stabilize their currencies during uncertain times. In 2022, central banks added 1,136 tonnes of gold—worth approximately $70 billion—marking the highest annual purchase on record, according to the World Gold Council. Countries such as China, India, and Turkey have notably increased their gold reserves.
Gold typically exhibits an inverse correlation with the US Dollar and US Treasuries. As the dollar depreciates, gold prices tend to rise, providing a diversification opportunity for investors and central banks. Conversely, gold prices often decline during stock market rallies, as riskier assets draw investor interest.
The price of gold is influenced by various factors, including geopolitical instability and recession fears, which can drive prices up due to its safe-haven status. As a non-yielding asset, gold often rises in environments of low interest rates. Conversely, higher interest rates generally suppress gold prices. The strength of the US Dollar also plays a critical role; a strong dollar can keep gold prices in check, while a weaker dollar typically pushes prices higher.
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