Gold Falls to 8,745.38 PHP per Gram in Philippines
The price of gold in the Philippines dropped on Monday, closing at 8,745.38 Philippine Pesos per gram.
Gold prices in the Philippines declined on Monday. The cost for one gram fell to 8,745.38 Philippine Pesos (PHP). This represents a drop from Friday’s level of 8,784.43 PHP. The data reflects daily market rates compiled for local reference.
The price per tola also decreased. It stood at 102,003.80 PHP on Monday. On Friday, the price for the same unit was 102,459.90 PHP. These figures are derived from international USD/PHP exchange rates.
Daily price movements across units
The decline affected all measured units consistently. The price for ten grams stood at 87,453.30 PHP. A troy ounce was valued at 272,012.00 PHP. GN auto markets/commodities: gold prices notes that local rates may vary slightly from these reference figures.
Gold serves as a value store
Gold functions as a safe-haven asset during turbulent times. It acts as a hedge against inflation and currency depreciation. Investors often diversify portfolios with gold to reduce risk. The metal does not rely on any specific government issuer.
Central banks drive global demand
Central banks remain the largest holders of gold. In 2022, they added 1,136 tonnes to their reserves. This purchase volume was worth approximately 70 billion dollars. Emerging economies like China and India increased their holdings significantly.
