Gold prices in the Philippines fell on Monday, based on FXStreet data. Gold was priced at PHP 9,234.12 per gram, down from PHP 9,314.10 on Friday.
Gold also dropped to PHP 107,704.80 per tola from PHP 108,637.90 on Friday. Other listed prices were PHP 92,341.07 for 10 grams and PHP 287,213.40 per troy ounce.
How FXStreet Calculates Local Gold Prices
FXStreet converts global gold prices into local values using the USD/PHP rate and local unit measures. The figures are updated daily at the time of publication and are for reference, as local rates may vary.
Central banks hold the largest gold reserves and added 1,136 tonnes worth about $70 billion in 2022, according to the World Gold Council. This was the highest annual total since records began.
Gold often moves inversely to the US Dollar and US Treasuries, and it is also commonly inversely linked to risk assets such as shares. Price changes can be driven by geopolitical events, recession fears, interest rates, and shifts in the US Dollar because gold is priced in dollars (XAU/USD).
This slight dip in local gold prices is just noise against the larger global backdrop. We see the main driver for gold as the changing interest rate outlook in the United States. After a prolonged period of consolidation in 2025, markets are now pricing in Federal Reserve rate cuts later this year.
Outlook For Rates And Gold
The expectation of lower interest rates is putting pressure on the US Dollar. The latest data from March 2026 shows US CPI inflation holding at 2.8%, reinforcing the view that the Fed’s next move will be a cut. The CME FedWatch tool currently shows a high probability of the first rate reduction occurring by the third quarter of 2026.
This environment is fundamentally supportive for a non-yielding asset like gold. Adding to this, we saw central banks continue their strong buying trend throughout 2025, with the World Gold Council reporting net purchases of over 950 tonnes. This provides a strong floor for the price and shows continued institutional demand.
Therefore, we should view any short-term weakness as a potential entry point. Derivative traders could consider building long positions through call options dated for the late third quarter. This strategy allows us to position for a rally driven by a potential Fed policy shift while limiting downside risk.
Implied volatility in gold options has remained relatively low in the first few months of 2026, making premiums more attractive than they were during the price surges we saw in 2024. A weaker dollar and falling interest rates create a powerful combination for higher gold prices. We should act on these dips before the market fully prices in the anticipated rate cuts.
