Gold prices in the Philippines recorded a slight decline on Thursday, according to FXStreet data, amid ongoing global market volatility and cautious investor sentiment. While prices remain elevated compared to historical averages, today’s figures mark a minor retreat from Wednesday’s levels, reflecting broader consolidation in international gold markets.
As of June 5, the price of gold stood at PHP 6,022.41 per gram, down from PHP 6,029.51 the previous day. Similarly, the price of gold per tola, a traditional South Asian measure equivalent to approximately 11.66 grams, dropped to PHP 70,244.17, compared with PHP 70,326.96 recorded a day earlier. The price per troy ounce, the standard unit in global precious metals trading, fell to PHP 187,317.90.
Latest Gold Prices in Philippine Pesos (PHP):
| Unit | Price (PHP) |
|---|---|
| 1 Gram | 6,022.41 |
| 10 Grams | 60,224.07 |
| 1 Tola | 70,244.17 |
| 1 Troy Ounce | 187,317.90 |
Despite the marginal decrease, gold remains a sought-after asset among Filipino investors amid persistent global economic uncertainties. These include elevated geopolitical tensions, shifting central bank policies, and inflationary concerns, all of which have traditionally fueled demand for safe-haven assets like gold.
Globally, gold has seen a resurgence in recent months, nearing record highs in U.S. dollar terms and outperforming other traditional asset classes. This rally has been supported by a weakening dollar, softer labor market data in the U.S., and speculation that the Federal Reserve may adopt a more dovish stance in upcoming policy decisions.
The local market is not immune to these trends. Analysts note that the strength of gold prices in the Philippines is directly influenced by global movements, converted based on exchange rates and adjusted for domestic demand. Although today’s slight decline may seem insignificant, such fluctuations are closely watched by jewelers, investors, and commodity traders across the country.
“Gold continues to play an important role in portfolio hedging, especially during periods of economic instability,” said a Manila-based financial analyst. “Even modest price shifts are often signals of deeper underlying market sentiment.”
With prices still hovering near all-time highs, many Filipino consumers are taking a wait-and-see approach before making large purchases, while others are cashing in on long-held gold assets. Meanwhile, local retailers and goldsmiths are adjusting prices cautiously in response to daily changes, ensuring competitive pricing without compromising on margins.
Outlook
Market watchers expect gold prices to remain volatile in the coming weeks, with further direction likely to emerge from major economic announcements in the U.S., particularly regarding interest rate policy and employment figures. In the Philippines, prices will also be influenced by foreign exchange movements and domestic demand patterns.
For now, gold remains a relatively stable store of value for many Filipino investors and households, even as day-to-day prices fluctuate. The minor drop seen today is part of normal market corrections and does not necessarily signal a reversal of the broader upward trend.
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
