Gold prices in the Philippines experienced a decline on Friday, based on data gathered by FXStreet.
The cost of gold per gram decreased to 4,540.55 Philippine Pesos (PHP), down from Thursday’s rate of PHP 4,553.82.
Similarly, the price of gold per tola dropped to PHP 52,960.25, compared to PHP 53,114.88 the previous day.
| Unit Measure | Gold Price in PHP |
|---|---|
| 1 Gram | 4,540.55 |
| 10 Grams | 45,405.65 |
| Tola | 52,960.25 |
| Troy Ounce | 141,227.50 |
FXStreet determines gold prices in the Philippines by converting international prices (USD/PHP) into local currency and measurement units. These rates are updated daily according to market conditions at the time of publication. It’s important to note that these figures are for reference only and local prices may vary slightly.
Why Do Investors Choose Gold?
Gold has been a crucial asset throughout history, serving as both a store of value and a medium of exchange. Today, beyond its allure and use in jewelry, gold is regarded as a safe-haven asset, making it a popular investment during uncertain times. Additionally, gold is widely viewed as a hedge against inflation and currency depreciation, as it isn’t dependent on any single government or issuer.
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