Gold prices in the Philippines were broadly unchanged on Thursday, based on FXStreet data. Gold was priced at PHP 9,064.32 per gram, compared with PHP 9,062.71 on Wednesday.
Gold was also quoted at PHP 105,723.80 per tola, up from PHP 105,705.70 a day earlier. Other listed prices were PHP 90,642.66 for 10 grams and PHP 281,932.20 per troy ounce.
How Local Gold Prices Are Calculated
FXStreet calculates local gold prices by converting international prices using USD/PHP and applying local units. Prices are updated daily at the time of publication and are for reference, as local rates may vary slightly.
Gold is commonly used as a store of value and a medium of exchange, and it is also used in jewellery. It is often treated as a safe-haven asset and as a hedge against inflation and currency weakness.
Central banks are the largest holders of gold and use it to diversify reserves. They added 1,136 tonnes worth about $70 billion in 2022, the highest annual total on record, according to the World Gold Council.
Gold often moves inversely to the US Dollar and US Treasuries, and it can also move opposite to risk assets such as shares. Prices can react to geopolitical risks, recession concerns, interest rates, and US Dollar movements, as gold is priced in dollars (XAU/USD).
What To Watch Next In Gold
We see the current stability in gold prices as a consolidation, not a lack of direction. This pause comes after a strong performance last year, where gold saw a nearly 13% gain in 2025, building on the momentum from previous years. Traders should view this flat trading as a potential opportunity before the next significant price movement.
The primary driver for gold in the coming weeks will be expectations surrounding interest rate policy. With recent data showing a cooling economy, the market is now pricing in at least two Federal Reserve rate cuts before the end of 2026. As a non-yielding asset, gold becomes significantly more attractive when interest rates are expected to fall.
We are also watching the continued, systematic buying from central banks, which creates a solid price floor. After adding over 1,037 tonnes in 2023 and maintaining a historically aggressive pace through 2024 and 2025, emerging market banks show no signs of slowing their acquisitions. This persistent demand provides a strong underlying support level that limits downside risk for traders.
Furthermore, inflation remains a concern, holding stubbornly above the 3% mark in the latest U.S. consumer price reports. This environment, combined with lingering geopolitical tensions, reinforces gold’s role as a safe-haven asset and a hedge against currency devaluation. Investors are increasingly looking for protection that riskier assets like stocks cannot provide.
Given these factors, we should consider positioning for a move higher in the next two to three months. A practical approach would be to buy call options, which allow for upside participation while clearly defining risk. We believe looking at strike prices approximately 5-7% above the current market level offers a favorable balance of probability and potential reward.
