Gold prices rose in the Philippines on Thursday, based on FXStreet data. Gold was priced at PHP 9,175.93 per gram, up from PHP 9,166.14 on Wednesday.
The price per tola increased to PHP 107,028.40 from PHP 106,912.00 a day earlier. FXStreet also listed prices of PHP 91,763.14 for 10 grams and PHP 285,416.10 per troy ounce.
Gold Price Reference Data
FXStreet converts international gold prices into PHP using the USD/PHP rate and local measurement units. The figures are updated daily at the time of publication and are for reference, as local prices may differ slightly.
Central banks are the largest holders of gold. According to the World Gold Council, central banks added 1,136 tonnes of gold worth around $70 billion in 2022, the highest annual total since records began.
Given the current environment, we see gold strengthening as a safe-haven asset amid rising global uncertainty. The recent uptick reflects broader market anxiety over renewed trade frictions and supply chain issues emerging in Southeast Asia. This instability encourages a flight to assets not tied to the performance of any single government or economy.
The metal is also proving to be a critical hedge against persistent inflation, a theme we’ve been watching closely. The U.S. Bureau of Labor Statistics recently reported that April 2026 inflation came in at a surprisingly high 3.6%, reigniting fears that price pressures are not fully contained. This makes holding a tangible asset like gold more appealing than cash, which loses purchasing power.
Drivers Supporting Gold Demand
Institutional demand provides a solid foundation for the current price action. The World Gold Council’s latest report for the first quarter of 2026 confirmed that central banks bought a net total of 290 tonnes, marking the strongest start to a year since 2013. This consistent buying from major players indicates a long-term strategic allocation to gold.
Furthermore, gold has an inverse relationship with the US Dollar, which has softened in recent weeks. The market is now anticipating that the Federal Reserve may signal a pause in its rate-hiking cycle, with recent weak manufacturing data suggesting the economy is cooling. A weaker dollar makes gold cheaper for holders of other currencies, typically boosting its price.
Looking back, we saw a similar setup in the third quarter of 2025 when recession fears led to a sharp sell-off in equities. During that period, gold rallied over 8% as traders unwound their riskier positions. That experience is fresh in our minds and likely influences the current defensive positioning we are observing.
In the derivatives market, this translates to a clear bullish sentiment for the coming weeks. We are seeing a significant increase in call option volume for contracts expiring in June and July 2026, with the call-to-put ratio now at 1.5, its highest level this year. This activity suggests traders are actively placing bets on further price increases.
