Gold Price in Philippine Pesos
The reality about gold prices is that they are expressed as a function of US dollars across the world. However, that’s cold comfort if you spend most of your day using Philippine pesos.
The chart on this page aims to solve some of that hassle. Our interactive chart allows you to examine all of gold’s closing prices from every day since January 1, 1995.
You can also see details about the current trading day, including the bid, ask, high, and low prices. Best of all, you don’t have to do any kind of conversion in your head, as the entire chart expresses the price of gold in terms of Philippine pesos.
Why Monitor Gold in Philippine Pesos?
For one thing, it is easier to compare the rising price of gold against other products in the Philippines if all are listed in terms of ₱. It saves you the headache of having to do a conversion first.
However, the bigger reason to monitor gold in PHP is because of the additional element that comes into play when gold valuation is not done in US dollars. There’s the actual changes in price due to the metal itself, and then there are the changes due to exchange rate wobbles between PHP and USD. Here’s how it works:
- If the peso weakens against the dollar, gold becomes more expensive for Filipino investors to buy. With fewer people purchasing gold, the price of gold is likely to go down in the face of a stronger dollar.
- If the peso strengthens, more people are interested in buying gold, as their peso goes much farther. So, with increased demand, the price of gold tends to rise.
How to Use the Gold Price Chart
There are several ways to use our gold price chart. The first thing you can do is select one of our preset date options to examine different timeframes for comparison.
Alternatively, you can enter a specific range of dates in the boxes below that you want to see – any combination of dates from January 1, 1995 until right now is available. You can also use the slider beneath the graph to set a particular amount of time so you can compare one period to another.
You can also hover your finger or cursor over the different datapoints of the chart in order to get more specific values, both in terms of pesos and the date itself. Please note that you may have to “zoom” in on the time frame captured by the chart in order to see specific dates, rather than monthly or weekly ones.
Finally, choose one of the radio buttons on the left if you want to compare the performance of gold in ₱ with various other financial measures, such as the FTSE100 or the price of crude oil.
Gold Price in PHP vs USD
We talked about the fact that considering gold in terms of Philippine pesos creates two different dimensions – the value of the metal itself and the exchange rate. While we’re going to talk about the drivers behind the price of gold below, we do need to touch on the subjective nature of currency exchange rates.
Exchange rate fluctuations occur as reflections of the economic outlook for both countries and the world economy at large. However, they are also indicative of the perception of their value by users. As such, you can see values shift one way or the other on gold based entirely on how Filipinos feel their own currency is matching up against the US dollar.
Notable Events that Caused the Price to Shift
Here are some of the more notable price shifts in gold that have affected the Philippine peso gold market in recent years. Matching the spikes with dates allows us to draw conclusions about the events that precipitated them, and gives clues about the types of events to notice as investment signals in the future.
| Date | Closing price (PHP) | Notes |
|---|---|---|
| August 22, 2011 | ₱80,554.54 | The new all-time high was the pinnacle of a general rise in price that began around 2008 as the world economy soured. However, the spike was particularly exacerbated by gold smugglers in the Philippines taking gold out of the country and not paying the requisite taxes on it. |
| August 6, 2020 | ₱101,363.68 | The COVID-19 pandemic spurred gold markets to new heights worldwide during this period. However, the price of gold exploded over ₱100,000 for the first time in history due to the Philippines officially entering a recession. The deepest economic contraction on record pushed frightened investors to safeguard their assets in gold. |
| March 8, 2022 | ₱107,572.41 | As the pandemic fears lessened, the price of gold sank significantly, though not quite to pre-pandemic levels. However, the outbreak of the Russian invasion of Ukraine caused a worldwide spike on gold as investors feared that a global conflict might be imminent. This new record was the culmination of a 17% increase in just two months of trading, but also reflected a significant trend in the past two years. As recently as May 2019, gold could be purchased for less than ₱67,000. |
| February 15, 2024 | ₱111,874.32 | The surprising thing about this mark is not that it clearly surpassed the previous all-time high in 2022 – in fact, some prices beforehand had already done so more convincingly. However, this closing price represents the lowest price for gold since then. Inflation fears and strong central bank purchasing had contributed to the gold price’s support of a price level around ₱110,000 over the past 24 months. Nobody knew what was coming next. |
| April 21, 2025 | ₱193,855.57 | This day is likely going to be a red letter one, as gold markets set new all-time highs almost universally across the world. Only 14 months after the previous row’s mark, gold had gone through a succession of record high prices to reach an apex on April 21, 2025. This price remains the high and is the closest that gold has ever come to being worth ₱200,000 per ounce. Gold prices exploded due to the combination of high inflation, multiple geopolitical conflicts, and a budding trade war between the United States and almost every other country on the planet. |
What Influences the Price of Gold?
Gold is like any other commodity, in that its price is a function of the supply of it and demand for it. There are many internal and external factors that can affect one or the other of these measures, and thus, affect the price of gold. So, let’s talk about some of those drivers:
- The state of the economy – Gold is probably the most common investment for people looking for safety in poor economic times. As the rest of the economy, including most investment classes like stocks and bonds, fails, the stability of gold’s tangible value becomes increasingly more attractive. Thus, the price of gold tends to increase as the economy worsens.
- Inflation – Inflation is the practice of diluting the money supply by printing and adding more money to the bills in circulation. Because investors don’t like seeing their investments degrade, they often turn to gold for safe shelter. The increased demand increases the price.
- Interest rates – Higher interest rates inspire many investors to keep their money within the economy itself. The better returns found with bonds or other similar instruments are too tempting to pass up. In that case, gold’s price tends to sink.
- Geopolitical situations – Wars, trade disputes, and other international conflicts tend to frighten people, including investors. They can cause concerns about the ongoing viability of economic initiatives or, in extreme cases, fiat currencies themselves. Thus, unrest tends to generate a rush to gold, and higher prices for the metal tend to follow.
- Mining logistics – Mining is not easy, and it requires both humans and heavy machinery to execute. There are limits to both of these resources that can choke supply, even if there’s more gold known to exist. Thus, labor disputes or other work stoppages can drive the price of gold up, especially if they occur in top gold-producing countries.
- Technological advances – At present, gold is a critical component in the production of electronics due to gold’s conductivity and corrosion resistance. It is also used quite commonly in aerospace and medical applications. Were there to be technological advances that eliminated or reduced the need for gold, the increase in supply would likely cause prices to fall.
The Economy of the Philippines
The economy of the Philippines is in transition, as it is converting from a primarily agricultural economy to an economy focused on the manufacturing and services sector. The country is considered an emerging market economy and it could see significant expansion in the coming years.
The Philippines exports copper, petroleum, fruits, coconut oil and more. The country is heavily involved in shipbuilding as well, with major shipyards in Subic, Batangas, General Santos City and Cebu.
The Philippines has abundant mineral and geothermal resources. The nation’s mining and extraction sector is an important component of the country’s economy as well. The country has deposits of silver, coal, gypsum, sulfur and more. The deposits of nickel, chromite, gold and copper are considered to be some of the largest in the world.
However, it is not one of the world’s largest gold producers. The nation has numerous issues to work through in order to tap the full potential of its gold mining resources. Some of these issues include various laws, land rights issues and environmental concerns.
Were technology or initiatives to allow for greater use of Filipino gold mines, the Philippines could potentially become a major player in the world’s gold supply.
There may also be increased demand as the Filipino economy industrializes and grows richer. Higher employment and higher wages may mean that Filipinos increasingly turn to gold for jewelry and investment purposes.
World Gold Prices
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