How gold is priced in the Philippines
In the Philippines gold is priced per gram by karat at jewellers and pawnshops — mostly 18K and 21K jewellery, plus 24K. There is no official retail benchmark; the prices here are international spot converted at today's USD/PHP rate.
Taxes
The standard 12% VAT applies to most retail gold sales. Sales of gold to the Bangko Sentral ng Pilipinas (BSP) are zero-rated, and under RA 11256 registered small-scale miners and accredited traders selling to the BSP are exempt from income, withholding and excise tax.
The central bank's role
The BSP buys gold from small-scale miners (mainly around Baguio and Davao) at international prices, to keep it out of the black market. It is one of the more active central banks in managing its gold reserves, selling gold at times in 2024 and 2025.
Pawnshops and jewellery
Pawnshops are a major part of the local gold market: they lend against jewellery valued per gram by karat, typically well below the metal value shown here.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.