Gold prices in the Philippines rose on Monday, with the price per gram reaching 5,461.47 PHP, up from 5,451.09 PHP on Friday. The cost per tola increased to 63,701.50 PHP from 63,580.39 PHP.

Current prices include 54,616.91 PHP for 10 grams and 169,870.80 PHP per troy ounce. Prices are subject to daily updates based on market conditions.

Factors influencing gold prices include geopolitical instability, recession fears, and interest rate fluctuations. Gold is often seen as a safe-haven asset, particularly when the US dollar weakens.

In 2022, central banks added 1,136 tonnes of gold, valued at approximately $70 billion, to their reserves, marking the highest annual purchase to date. Countries like China, India, and Turkey are increasing their reserves rapidly.

The rise in gold prices at the start of the week reflects the constant shift in market conditions. A gram of gold now costs 5,461.47 PHP, slightly higher than last Friday’s 5,451.09 PHP, while the price per tola has also seen a moderate rise from 63,580.39 PHP to 63,701.50 PHP. Whether trading in grams or tolas, the upward movement shows that demand and external pressures continue to hold weight. A troy ounce now stands at 169,870.80 PHP, reinforcing trends that traders have monitored closely over previous weeks.

Gold’s movement isn’t random—it tracks global tensions, economic concerns, and monetary policies. When uncertainty rises, so does gold’s appeal. We’ve seen time and time again that economic fears push investors towards assets they see as more stable. Interest rate decisions also shape behaviour. If rates climb, investors may shift towards interest-bearing assets, impacting demand for gold. On the other hand, when central banks hint at softer policies, gold tends to benefit.

Gold reserves held by central banks tell their own story. With 1,136 tonnes added in 2022 alone—worth around $70 billion—there’s little doubt about the long-term view some countries have taken. Central banks in China, India, and Turkey are growing their reserves at an accelerated pace, a pattern that points to hedging strategies against currency fluctuations or larger economic weaknesses.

Those trading derivatives will need to watch not just price movements but also macroeconomic indicators that influence sentiment. Inflation data, policy shifts, and geopolitical headlines can set the tone for price action. Since gold has already nudged upwards as the week begins, how it behaves in the days ahead will depend on whether buyers continue adding positions or if external factors slow momentum.