Gold still a safe haven

In the context of long-term currency depreciation and growing consumer preference for resilient assets, gold continues to stand out as a trusted store of value for many Filipinos. It is widely viewed not only as an investment that preserves wealth but also as a practical financial tool that provides security in times of need.

Across consumer segments, three core perceptions consistently shape how gold is valued.

First, gold is seen as a long-term appreciating asset. Many consumers have observed sustained increases in gold prices over time, reinforcing its reputation as a stable instrument for wealth growth and preservation.

Second, gold functions as an accessible source of emergency liquidity. Unlike other assets, it can be quickly converted into cash through pawnshops, direct sale or jewelry resale, making it a reliable financial fallback during unforeseen expenses.

Third, gold is considered more accessible than property investments. With lower capital requirements, easier entry and simpler transaction processes, it serves as an attainable asset class for a broader segment of the population.

In a report by Reuters, gold prices surged past the $5,000 per ounce level in January, reaching a new all-time high as investors rushed into safe-haven assets. The rally was driven mainly by heightened geopolitical tensions, trade uncertainty and concerns over global economic stability, which pushed demand for gold as a protective investment.

Just recently, Morgan Stanley Research forecasted gold prices could rise to $5,200 per ounce in the second half of the year, or about nine percent above April 22 levels as central banks and exchange-traded funds (ETFs) resume purchases.

Even Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. noted that gold could serve as a useful hedge when held as part of a larger portfolio, particularly one heavily reliant on dollar assets like that of the BSP.

Gold’s record-breaking move is part of a broader flight to safety, as investors shift away from volatile markets toward assets perceived to hold value during periods of uncertainty.

Amidst inflation concerns and heightened market volatility fueled by Middle East tensions, investors are now turning to assets that can better hold their value over time, even through periods of market uncertainty.

According to one report, long-term trends point to gold ownership as a reliable hedge against inflation. While the Philippine peso depreciated by 20-25 percent against the dollar from 2016 to 2026, gold prices rose by roughly 290 percent from $1,150 per ounce to $4,500 per ounce during the same period, says Goldprice.org.

As Filipinos look for ways to protect the value of their hard-earned money amidst rising inflation and everyday financial pressures, GCash recently made gold investing more accessible through Gold in GCrypto. Powered by Tether, each token represents ownership in real, physical gold on a 1:1 basis. Unlike traditional gold ownership, digital access removes logistical challenges such as storage, insurance and transport, while enabling users to buy, sell and monitor their holdings directly through the GCash app.

What matters most

The Senate’s current paralysis has a specific sequence, and the sequence matters.

Some are saying that the minority bloc walked out on May 26, breaking quorum during the rules amendment debate. That move, which the minority defended as a legitimate parliamentary action, produced the same result it later condemned: a chamber unable to conduct business.

They add that when the majority subsequently absented itself from plenary, the minority called it an abandonment of duty. The standard applied to one side was not applied to the other. That asymmetry has defined the Senate’s dysfunction since May, and it did not begin with Sen. Alan Peter Cayetano.

They also point out that the legislation now described as casualties of the impasse – the Magna Carta of Barangay Health Workers among them – did not stall because of anything the Cayetano leadership did. These measures were pending under the previous Senate leadership and were not moved. Cayetano assumed the presidency on May 11. The responsibility for a legislative calendar that arrived behind schedule does not belong to the administration that inherited it.

The flood control investigation tells the more instructive story. They observed that when Cayetano pushed through a Senate Blue Ribbon Committee hearing on June 4, overcoming a work-from-home directive and physically barring resource persons from the building, the new majority dismissed it as unauthorized. What it did not dismiss was the testimony. The 18 witnesses who appeared, alleging personal delivery of kickback payments to named officials, were subsequently reinvited by the Sen. Erwin Tulfo-led panel for the June 8 hearing. Tulfo himself said his committee would call everyone Cayetano’s group had invited. The substance of what was heard on June 4 was consequential enough to repeat. The minority’s objection was procedural, not substantive. That distinction is worth noting, particularly given that some of the names surfacing in the probe are not on the majority side of the chamber.

The public interest in this situation is not over which bloc controls the gavel. It is in whether the investigation follows the evidence regardless of where it leads, whether the partial report’s documented findings on allocables, leadership funds and multi-administration budget insertions eventually convert into enforceable reform, and whether the senators who declined to sign a 400-page report on the country’s largest corruption scandal are required to account for that decision. Those questions did not disappear when the leadership changed. They became more urgent.

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