Gold prices in the Philippines fell on Wednesday, continuing a downward trend as reported by FXStreet. The latest data indicates a slight decrease in the price of gold compared to the previous day, as market fluctuations influence the local rates.
As of today, the price for one gram of gold stood at PHP 4,966.63, marking a decrease from PHP 4,974.81 recorded on Tuesday. This represents a small but notable drop in the value of the precious metal within a 24-hour period. The price for one tola of gold also saw a decline, falling to PHP 57,929.76 from PHP 58,025.21 the day before.
For those tracking gold in different units of measure, here are the updated rates:
1 Gram: PHP 4,966.63
10 Grams: PHP 49,666.27
1 Tola: PHP 57,929.76
1 Troy Ounce: PHP 154,479.50
These prices are calculated by FXStreet, which adjusts international gold prices based on the current USD/PHP exchange rate, as well as local measurement units commonly used in the Philippines. The data is updated daily to reflect real-time market conditions, with the latest rates available at the time of publication.
It is important to note, however, that these prices are provided for reference purposes. Local rates may differ slightly due to regional market variations, and individuals are encouraged to check with local gold dealers for the most accurate prices at the time of purchase.
Despite the daily fluctuations, gold remains a popular and closely monitored commodity in the Philippines, with its value closely tied to international market trends and exchange rate movements.
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