Friday, 11 October 2024, 3:09 PM
Gold Unit | Philippine Peso | U.S. Dollar |
---|---|---|
Gold Ounce | 151,612.73 | 2,652.52 |
Gold Gram Karat 24k | 4,875.01 | 85.29 |
Gold Gram Karat 22k | 4,465.51 | 78.13 |
Gold Gram Karat 21k | 4,265.63 | 74.63 |
Gold Gram Karat 18k | 3,656.26 | 63.97 |
Gold Gram Karat 14k | 2,851.88 | 49.89 |
Gold Gram Karat 12k | 2,437.50 | 42.65 |
Gold Gram Karat 10k | 2,032.88 | 35.57 |
Gold Gram Karat 9k | 1,828.13 | 31.98 |
Gold Gram Karat 8k | 1,623.38 | 28.40 |
In the Philippines, gold jewelry is a popular choice for both aesthetic and cultural reasons. The most commonly used gold karats are 18K, 14K, and 10K, each offering a blend of purity and durability suited for various applications.
18K gold is the most popular choice, containing 75% pure gold and 25% alloy metals. This high gold content gives it a rich color and luster, making it ideal for elegant pieces such as wedding rings and other fine jewelry.
Next is 14K gold, which consists of 58.3% pure gold. It is favored for everyday jewelry due to its strength and affordability, providing a good balance between quality and price. Many consumers in the Philippines opt for 14K pieces for casual wear.
Finally, 10K gold, containing 41.7% pure gold, is the least common option. It is still available, mainly for budget-conscious buyers or to create more intricate jewelry designs that require durability. While less popular, each of these karats serves to meet diverse consumer preferences in the vibrant Filipino jewelry market.
The price of gold in the Philippines is influenced by several factors that reflect both local and global market conditions. Strong demand for gold, typically driven by jewelry manufacturing, investment purposes, and cultural significance, plays a crucial role in determining its price. Additionally, fluctuations in international gold prices, predominantly governed by market trading on commodities exchanges, significantly affect local prices.
Another important aspect is the currency exchange rate, particularly the value of the Philippine peso against the US dollar, as gold is commonly priced in dollars. A weaker peso often leads to higher gold prices in the local market. Furthermore, the economic environment, including inflation rates and interest rates, also impacts gold prices. When inflation rises, investors tend to turn to gold as a hedge, increasing its demand and price.
Lastly, local supply and mining activities affect the availability of gold in the market. The Philippines, being one of the top gold producers in Asia, has mining operations that can influence the local supply, thereby impacting prices. Overall, these interconnected factors contribute to the dynamic nature of gold pricing in the Philippines.
As we look ahead, the predictions for gold prices in the Philippines remain a topic of keen interest among investors and market analysts. Recent trends indicate that gold has maintained its appeal as a safe-haven asset, especially amidst ongoing economic uncertainties. The impact of global inflation and geopolitical tensions will likely continue to drive demand for gold, which is traditionally viewed as a safeguard against currency fluctuations and economic instability.
In the upcoming months, analysts anticipate that gold prices may experience volatility, influenced by shifts in interest rates and changes in central bank policies. If the Bangko Sentral ng Pilipinas raises interest rates to combat inflation, this could lead to a temporary dip in gold prices. Conversely, if inflation persists or intensifies, the demand for gold may surge, pushing prices higher.
Furthermore, the local supply and demand dynamics in the Philippines, along with seasonal buying patterns, particularly during festivals and holidays, can also affect gold prices. Investors in the Philippines should closely monitor both local and international market trends to make informed decisions regarding gold investments.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
10 October 2024 | 149,335.51 | 4,801.78 | 4,401.28 | 4,200.72 | 3,600.18 | 2,801.79 |
9 October 2024 | 149,202.88 | 4,797.52 | 4,397.37 | 4,196.99 | 3,596.98 | 2,799.30 |
8 October 2024 | 150,354.50 | 4,834.55 | 4,431.31 | 4,229.38 | 3,624.75 | 2,820.91 |
7 October 2024 | 150,150.79 | 4,828.00 | 4,425.31 | 4,223.65 | 3,619.84 | 2,817.09 |
6 October 2024 | 150,245.37 | 4,831.04 | 4,428.10 | 4,226.31 | 3,622.12 | 2,818.86 |
5 October 2024 | 150,245.37 | 4,831.04 | 4,428.10 | 4,226.31 | 3,622.12 | 2,818.86 |
4 October 2024 | 150,205.33 | 4,829.75 | 4,426.92 | 4,225.19 | 3,621.15 | 2,818.11 |
3 October 2024 | 149,419.11 | 4,804.47 | 4,403.75 | 4,203.07 | 3,602.20 | 2,803.36 |
2 October 2024 | 148,980.11 | 4,790.36 | 4,390.81 | 4,190.72 | 3,591.61 | 2,795.12 |
1 October 2024 | 148,187.33 | 4,764.87 | 4,367.44 | 4,168.42 | 3,572.50 | 2,780.25 |
30 September 2024 | 148,860.37 | 4,786.51 | 4,387.28 | 4,187.35 | 3,588.73 | 2,792.88 |
29 September 2024 | 148,564.99 | 4,777.01 | 4,378.57 | 4,179.04 | 3,581.61 | 2,787.34 |
28 September 2024 | 148,564.99 | 4,777.01 | 4,378.57 | 4,179.04 | 3,581.61 | 2,787.34 |
27 September 2024 | 149,632.36 | 4,811.33 | 4,410.03 | 4,209.07 | 3,607.34 | 2,807.36 |
26 September 2024 | 148,985.37 | 4,790.53 | 4,390.96 | 4,190.87 | 3,591.74 | 2,795.22 |
25 September 2024 | 148,678.19 | 4,780.65 | 4,381.91 | 4,182.23 | 3,584.33 | 2,789.46 |
24 September 2024 | 147,798.15 | 4,752.35 | 4,355.97 | 4,157.47 | 3,563.12 | 2,772.95 |
23 September 2024 | 146,287.41 | 4,703.78 | 4,311.45 | 4,114.98 | 3,526.70 | 2,744.60 |
22 September 2024 | 146,070.87 | 4,696.81 | 4,305.07 | 4,108.89 | 3,521.48 | 2,740.54 |
21 September 2024 | 146,070.87 | 4,696.81 | 4,305.07 | 4,108.89 | 3,521.48 | 2,740.54 |
20 September 2024 | 143,720.21 | 4,621.23 | 4,235.79 | 4,042.76 | 3,464.81 | 2,696.44 |
19 September 2024 | 142,608.97 | 4,585.50 | 4,203.03 | 4,011.50 | 3,438.02 | 2,675.59 |
18 September 2024 | 142,875.64 | 4,594.07 | 4,210.89 | 4,019.01 | 3,444.45 | 2,680.59 |
17 September 2024 | 143,748.72 | 4,622.15 | 4,236.63 | 4,043.56 | 3,465.49 | 2,696.97 |
16 September 2024 | 144,326.87 | 4,640.74 | 4,253.67 | 4,059.83 | 3,479.43 | 2,707.82 |
15 September 2024 | 144,548.83 | 4,647.87 | 4,260.21 | 4,066.07 | 3,484.78 | 2,711.99 |
14 September 2024 | 144,548.83 | 4,647.87 | 4,260.21 | 4,066.07 | 3,484.78 | 2,711.99 |
13 September 2024 | 144,062.99 | 4,632.25 | 4,245.89 | 4,052.40 | 3,473.07 | 2,702.87 |
12 September 2024 | 141,146.10 | 4,538.46 | 4,159.92 | 3,970.35 | 3,402.75 | 2,648.14 |
11 September 2024 | 141,030.22 | 4,534.73 | 4,156.51 | 3,967.09 | 3,399.96 | 2,645.97 |