Gold prices in the Philippines edged lower on Tuesday, reflecting broader market trends and a softening in global bullion demand.
The price of gold dropped to ₱5,762.51 per gram, down from ₱5,783.42 recorded on Monday. This marks a slight pullback amid fluctuations in the international market and ongoing adjustments to U.S. dollar dynamics and investor sentiment.
Prices for other gold units also followed suit. The cost of one tola — a traditional South Asian measure equivalent to approximately 11.66 grams — declined to ₱67,212.80, down from ₱67,456.65 the previous day.
Here’s a breakdown of Tuesday’s gold prices in Philippine Pesos (PHP):
| Unit | Gold Price (PHP) |
|---|---|
| 1 Gram | ₱5,762.51 |
| 10 Grams | ₱57,625.12 |
| 1 Tola | ₱67,212.80 |
| 1 Troy Ounce | ₱179,234.30 |
The decline mirrors a broader global trend, where gold has faced resistance amid improving risk sentiment and speculation around the U.S. Federal Reserve’s monetary policy trajectory. Local gold prices typically track international benchmarks, with currency exchange rates and regional demand also playing influential roles.
Investors in the Philippines are likely to monitor global cues closely, especially upcoming statements from U.S. Federal Reserve officials and geopolitical developments, both of which could sway short-term gold price movements.
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