Gold prices in the Philippines fell on Monday, based on FXStreet data. Gold was priced at PHP 9,274.39 per gram, down from PHP 9,378.88 on Friday.
Gold also declined to PHP 108,174.30 per tola from PHP 109,393.40 on Friday. Listed reference prices were PHP 92,747.66 for 10 grams and PHP 288,475.40 per troy ounce.
How FXStreet Calculates Local Gold Prices
FXStreet calculates local gold prices by converting international prices using the USD/PHP exchange rate and local measurement units. Prices are updated daily using market rates at the time of publication, and local rates may differ slightly.
Central banks hold the largest gold reserves. World Gold Council data shows central banks added 1,136 tonnes of gold worth around $70 billion in 2022, the highest annual purchase since records began.
Gold often moves inversely to the US Dollar and US Treasuries, and can also move opposite to risk assets. Its price can be affected by geopolitical events, recession fears, interest rates, and changes in the US Dollar because gold is priced in dollars (XAU/USD).
This minor dip in the gold price is less important than the broader economic picture we are seeing develop. We must look at the key drivers, especially the changing expectations around US interest rates for the remainder of 2026. The slight price fall offers a moment to assess the larger trends influencing the market.
Strategy Outlook For Gold In 2026
We believe the US Federal Reserve is nearing the end of its tightening cycle, which we have watched since 2024. The latest inflation data from January 2026 showed core price pressures finally easing, with the Consumer Price Index dropping to a two-year low of 2.5%. This signals potential rate cuts in the second half of the year, which would likely weaken the US dollar and push gold prices higher.
Considering this, we should look at buying call options on gold futures expiring in late 2026. This allows us to position for a significant price increase while limiting our initial risk to the premium paid. A move above the key $2,450 per ounce level, a resistance point we saw in late 2025, seems increasingly likely if the Fed confirms a dovish pivot.
Central bank buying also continues to provide a strong floor for the market. We saw them add a record 1,136 tonnes back in 2022, and the final numbers for 2025 confirmed another 950 tonnes were added to official reserves. This consistent demand from major players suggests any significant price drops will be met with buying pressure, making the sale of out-of-the-money put options an attractive strategy to collect premium.
Geopolitical tensions are also providing support, with renewed uncertainty around global shipping lanes and upcoming elections in several key economies. We saw how gold reacted to instability during the 2024 global trade disputes, rallying sharply as a primary safe-haven asset. This underlying risk means holding some long exposure to gold volatility through instruments like straddles could be profitable.
As an asset with no yield, gold becomes more attractive when interest rates fall. After the high-rate environment of 2025, which capped gold’s potential, a shift in monetary policy is the main catalyst we are watching. We should therefore be prepared to use futures contracts to build a core long position in the coming weeks, anticipating this fundamental change.
