The price of gold has seen a decline in the Philippines as of today, with notable drops in both gram and tola prices. According to data compiled by FXStreet, the gold market has experienced a slight dip compared to the previous day.
As of Wednesday, the price of gold per gram in the Philippines stands at PHP 5,786.23, which is a decrease from PHP 5,832.97 reported on Tuesday. This drop in the price per gram reflects a broader trend in the market that has impacted the overall value of gold in the country.
For those purchasing larger quantities, the price for 10 grams of gold is now PHP 57,862.43. This price also reflects the decline observed in the market, showing a slight drop from previous days.
The price of gold per tola (which is commonly used for weighing gold in many Asian countries) has decreased as well, with the latest value standing at PHP 67,489.39. This marks a reduction from the previous price of PHP 68,034.57 per tola on Tuesday. Tola measurements are often preferred for larger transactions, particularly in jewelry and bullion.
Lastly, for those considering gold in terms of international trading, the price per troy ounce of gold is reported at PHP 179,971.80. A troy ounce is the standard unit used in the global gold market, and this price reflects the overall trend of falling gold values.
In summary, the gold market in the Philippines has shown a decrease in value across multiple measures, from the gram to the tola, indicating a softening of the gold market. This decline may reflect global trends, market sentiment, or other economic factors influencing the value of precious metals.
Related topics:
- India Surpasses China in Gold Purchases, Buying 51% More in Three Months
- Qilu Bank Enhances Support for Small Businesses with Innovative Financial Tools
- Bitcoin Poised for a Surge Amid Gold’s Delivery Delays, Expert Claims
