Gold prices in the Philippines were unchanged on Friday, based on FXStreet data. Gold was priced at PHP 9,089.12 per gram, the same as Thursday.
Gold also held at PHP 106,013.70 per tola, unchanged from the previous day. Other listed prices were PHP 90,891.20 for 10 grams and PHP 282,703.40 per troy ounce.
Local Pricing Method Overview
FXStreet derives local gold prices by converting international prices using USD/PHP and local units. Rates are updated daily at publication time and are for reference, as local prices may differ.
Central banks are the largest holders of gold 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, with China, India and Turkey among countries increasing reserves.
Gold often moves opposite to the US Dollar and US Treasuries, and it can also move opposite to stock markets. Prices can also react to geopolitics, recession fears, and interest rates, as gold has no yield and is priced in US dollars.
We see gold holding its value as a safe-haven asset, a key theme following the market turbulence we experienced through much of 2025. Its role as a hedge against currency depreciation is especially relevant given the current economic climate. This stability suggests we should be positioned for potential upward movement in the coming weeks.
Key Drivers For Gold Demand
The market is now pricing in a strong possibility of Federal Reserve rate cuts in the second half of this year, a major shift from the firm stance held last year. As a yield-less asset, gold becomes more attractive when interest rates are expected to fall. This expectation is a primary driver for our bullish outlook.
While the latest Consumer Price Index reading for March came in at a manageable 2.9%, persistent inflation supports gold’s role as a store of value. The US Dollar Index has also softened to around 101.3 from its 2025 highs, providing a direct tailwind for the metal. A weaker dollar has historically shown a strong inverse correlation with gold prices.
We cannot ignore the strong underlying support from central banks, which continued their aggressive purchasing through 2025, adding over 880 tonnes to global reserves. This provides a solid floor for prices and limits potential downside. Persistent geopolitical tensions are also encouraging a flight to safety, further boosting gold’s appeal.
Given these factors, derivative traders could consider strategies that benefit from rising prices. This may include buying call options to capitalize on upward momentum with a defined risk. Selling cash-secured puts at key technical support levels could also be a viable strategy to collect premium, expressing a view that downside is limited.
