Gold rate today in Quezon City

What gold costs in Quezon City today

At the last update, one gram of 24k gold in Quezon City works out to about 8,210 PHP, and a gram of 22k to about 7,526 PHP. Per 10 grams, a common size for small bars and rate boards, that is about 82,098 PHP for 24k. These are spot-based figures, before any tax, premium or making charge.

The central bank buys gold in Quezon City

The Bangko Sentral ng Pilipinas (BSP), the central bank, buys gold through a handful of gold buying stations. One of them is in Quezon City; the others listed in 2017 were in Baguio, Davao, Zamboanga and Naga.

The Metro Manila station also serves as the BSP's gold refinery at its security plant complex. Gold bought there is refined into London Good Delivery bars, which go into the central bank's vault as part of the country's reserves.

What moves the gold price in Quezon City

Two numbers set the gold price in Quezon City: the international price in US dollars, about $4,042.7 per ounce at the last update, and the USD/PHP exchange rate, now 63.164. The peso gold price is the dollar price times USD/PHP, so when the peso weakens the local gold price rises even with no change in New York, and when it strengthens local gains shrink.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Quezon City

The shelf price in Quezon City is higher than the converted figure above. A shop adds 12% VAT, workmanship on jewellery and the shop's margin. On jewellery, making charges are included in the per-gram price, which varies widely between malls, jewellery towns and pawnshops, so two pieces of the same weight and purity can carry very different prices. We found no Philippine hallmarking authority, so check the karat stamp and ask the shop to test the piece.

Gold market hours in Quezon City

The international gold market trades almost around the clock on weekdays. In Quezon City the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 21:00–01:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 18:30 and 23:00 in Quezon City, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 21:30 local time. The week's trading closes at 06:00 on Saturday and reopens at 07:00 on Monday, Quezon City time; over the weekend the price on this page is the last close. The Bangko Sentral ng Pilipinas buys gold from registered small-scale miners, tax-free under RA 11256, and we found no national daily retail rate. Our gold market hours tool shows the sessions in any time zone.

Quezon City compared with Manila

Quezon City and Manila both price gold in PHP off the same international price and the same exchange rate, so the converted figure is identical: about 8,210 PHP per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this PHP gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,042.7 at the last update. Second, the exchange rate: 1 USD = 63.164 PHP. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,042.7 ÷ 31.1035 = $129.98.
2. Price per gram in PHP = $129.98 × 63.164 = 8,210 PHP (24k, pure gold).
3. Price per 10 grams = 8,210 × 10 = 82,098 PHP.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.75.

The gold price is the spot price of gold (XAUUSD) from a public real-time feed, refreshed every few seconds while the page is open; the 7-day table and the 30-session chart use COMEX gold futures closes, which usually sit a few dollars above spot. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Quezon City, but they are not the price you will pay or receive at a shop. The shop price adds some or all of these on top:

• Import duty or customs charges, where gold or jewellery is imported.
• Sales tax or VAT, where the country charges one. Many countries tax jewellery but not investment bars; the sections above say what applies here.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions