Gold prices in the Philippines fell on Friday, based on FXStreet data. Gold was priced at PHP 9,329.38 per gram, down from PHP 9,349.44 on Thursday.
Gold also dropped to PHP 108,816.00 per tola from PHP 109,050.10 a day earlier. Other listed prices were PHP 93,293.79 for 10 grams and PHP 290,176.10 per troy ounce.
How FXStreet Calculates Local Gold Prices
FXStreet converts international gold prices into Philippine pesos using the USD/PHP exchange rate and local measurement units. The figures are updated daily using market rates at the time of publication, and local prices may vary.
Gold has long been used as a store of value and a medium of exchange. It is also used in jewellery and is often used to protect against inflation and currency weakness.
Central banks hold the largest gold reserves. In 2022, they added 1,136 tonnes worth about $70 billion, according to the World Gold Council.
Gold often moves in the opposite direction to the US Dollar and US Treasuries. Prices can also be affected by geopolitical risks, recession fears, and changes in interest rates.
Market Outlook For Gold In The Coming Weeks
While we see a minor dip in gold’s price today, this appears to be short-term noise rather than a change in trend. The bigger picture for the coming weeks is tied to the US Dollar, which has been softening on expectations of future policy changes. This inverse relationship is a key driver for precious metals.
We are closely watching signals from the US Federal Reserve as the market anticipates a pivot from its restrictive monetary policy. January 2026’s core inflation data came in stubbornly above target at 2.8%, creating uncertainty about the timing of rate cuts. This environment, where rates are high but expected to fall, often provides support for non-yielding assets like gold.
The fundamental support from central banks remains a powerful factor, a trend we tracked closely through 2025. Following the record purchases we saw back in 2022, central banks globally added over 800 tonnes to their reserves last year. This consistent demand creates a solid floor for prices, especially during times of currency diversification.
For derivative traders, this suggests that buying call options on gold futures could be a prudent strategy to hedge against potential equity market downturns. The increased chatter about a possible US recession later this year means we could see a flight to safety, weakening stocks and boosting gold. Implied volatility on gold options is still reasonable, presenting an opportunity to position for a potential price surge in the second quarter.
