Gold prices in the Philippines continued their upward trend on Monday, reflecting global bullish sentiment. According to FXStreet, the price of gold per gram increased from PHP 5,682.11 (Friday) to PHP 5,732.81.
Latest Gold Prices in the Philippines (PHP)
| Unit Measure | Gold Price (PHP) |
|---|---|
| 1 Gram | 5,732.81 |
| 10 Grams | 57,328.78 |
| 1 Tola | 66,867.68 |
| 1 Troy Ounce | 178,310.30 |
This marks an increase from PHP 66,274.98 per tola recorded on Friday.
Why Are Gold Prices Rising?
Global Economic Uncertainty
With financial instability and fears of inflation, investors are shifting towards gold as a safe-haven asset.
Strong Demand from Central Banks and Investors
Central banks and financial institutions worldwide are boosting gold reserves, contributing to price hikes.
International Price Trends
The global gold price has surged past $3,100 per ounce, further influencing local gold rates.
Foreign Exchange Rates
The value of the Philippine Peso (PHP) against the US Dollar also plays a role in determining gold prices in the local market.
Gold Price Outlook in the Philippines
If global gold prices continue to rise, we may see further increases in the Philippines.
Economic trends, inflation concerns, and geopolitical risks will be key factors shaping gold’s movement.
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