Gold prices in the Philippines saw a modest rise on Monday, reflecting a slight upward trend in the global market. According to data compiled by FXStreet, the price of gold per gram increased to PHP 4,881.72, marking a rise from the previous session’s price of PHP 4,869.21 on Friday.
In addition to the per-gram price increase, gold’s price per tola also saw a gain, climbing to PHP 56,938.96 from PHP 56,793.46 on Friday. This upward movement suggests a steady demand for the precious metal, which has remained a popular investment choice amid global economic uncertainties.
As of Monday, the price breakdown for gold in various units of measurement is as follows:
1 Gram: PHP 4,881.72
10 Grams: PHP 48,816.80
1 Tola: PHP 56,938.96
1 Troy Ounce: PHP 151,837.30
FXStreet, which tracks and reports on the prices of commodities worldwide, calculates these values by adapting international gold prices (quoted in USD) to the Philippine Peso (PHP), using the current exchange rate. The conversion is further tailored to reflect local measurement units, including grams, tolas, and troy ounces.
It is important to note that while FXStreet’s data is updated daily, these prices are indicative and may not precisely reflect the local market rates in every region of the Philippines. Local gold dealers may offer prices that differ slightly due to additional factors such as local demand, taxes, and overhead costs. As such, consumers are advised to consult with local sellers for the most accurate and up-to-date pricing information.
Gold prices have been influenced by a range of global economic factors, including inflation concerns, shifts in currency values, and geopolitical tensions, which have driven many investors to turn to gold as a safe-haven asset. The current price increase reflects the ongoing volatility in financial markets and the continued role of gold as a stable store of value.
With gold being an essential part of the Philippine market, both as a form of investment and as a culturally significant metal used in jewelry, the latest price changes are likely to impact consumers and investors alike, who will continue to monitor fluctuations closely in the coming weeks.
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