Gold price in Philippines: Rates on May 22
Gold prices fell in Philippines on Friday, according to data compiled by FXStreet. The price for Gold stood at 8,978.47 Philippine Pesos (PHP) per gram, down compared with the PHP 9,006.36 it cost on Thursday. The price for Gold decreased to PHP 104,723.10 per tola from PHP 105,048.40 per tola a day earlier.Unit measureGold Price in PHP1 Gram8,978.4710 Grams89,784.38Tola104,723.10Troy Ounce279,267.30 Gold FAQs Gold has played a key role in human‘s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a countrys solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves









