Gold prices in the Philippines rose on Monday, according to FXStreet data. The price reached PHP 8,305.64 per gram, up from PHP 8,194.50 on Friday.
The price per tola increased to PHP 96,875.30, compared to PHP 95,579.03 last week. For other units, 10 grams cost PHP 83,056.34, and a troy ounce was priced at PHP 258,333.70.
Gold Price Calculation
FXStreet calculates these prices by adapting international prices to PHP, updating them daily. Local rates may differ slightly.
Gold is valued for its historical role as a store of value and medium of exchange. It is seen as a safe-haven asset during unstable times and a hedge against inflation.
Central banks hold the most Gold, buying to support their currencies. Central banks bought 1,136 tonnes of Gold in 2022, the highest yearly purchase since records began.
Gold has an inverse correlation with the US Dollar and Treasuries, and its price typically rises when the Dollar weakens. Geopolitical instability and interest rates also affect Gold prices.
Impact of Economic Uncertainty
Gold values may increase during economic uncertainty, benefiting from falling interest rates, while a strong US Dollar can keep prices stable.
The recent increase in gold prices signals a potential shift we should be watching closely. This move is not isolated, as it reflects a broader trend of a weakening U.S. dollar, which fell 1.5% against a basket of currencies over the last month. As gold is priced in dollars, this inverse relationship is a primary driver for the current upward momentum.
We see this price action being supported by growing concerns over a global economic slowdown heading into 2026. Recent manufacturing PMI data from both the Eurozone and the United States for November 2025 came in below expectations, fueling speculation that central banks may need to pivot to more accommodative policies sooner than anticipated. This environment increases the appeal of gold as a safe-haven asset.
Central bank activity continues to provide a strong floor for gold prices, a trend we have observed since the record purchases seen back in 2022 and 2023. Data released in early December 2025 confirmed that emerging market central banks added another 800 tonnes to their reserves this year, signaling a continued strategy of de-dollarization. We are also seeing renewed inflows into gold-backed ETFs, with a net inflow of $1.2 billion so far this month, a sharp reversal from the outflows seen in the third quarter.
For the coming weeks, we should consider positioning for further upside, especially as trading volumes typically thin out over the holidays, which can exaggerate price moves. Buying call options on February 2026 gold futures could be a cost-effective way to capture this potential rally. Given the rising uncertainty, using bull call spreads might also be a prudent strategy to offset some of the premium costs.
Looking back, this situation is reminiscent of the market conditions in late 2018, when fears of a policy mistake by the Federal Reserve led to a significant rally in gold throughout 2019. Similarly, the current dovish hints from Fed officials, combined with persistent inflation that remains just above the 3% mark, create a favorable backdrop for non-yielding assets. We should therefore be prepared for heightened volatility and treat gold as a key hedge for our portfolios.
