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Commodities

Philippine Gold Prices Plummet Amid Global Bullion Decline

Guavy AI Editorial Team
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Gold prices in the Philippines declined on Thursday to PHP 8,901.44 per gram from PHP 8,955.29 the previous day. The per-tola level also fell to PHP 103,824.90 from PHP 104,452.80.

The decrease comes as global bullion prices dip, with central banks remaining the largest holders of gold. In 2022, they added 1,136 tonnes valued at about $70 billion, a record high for annual purchases.

FXStreet derives local quotations by translating international pricing via USD/PHP into Philippine currency and standard units. Central banks' demand for gold is seen as a positive indicator, with emerging-market buyers including China, India, and Turkey.

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