Former Philippine Central Bank Governor: It is time to reap gold profits
Former Philippine Central Bank Governor Benjamin Diokno called on the bank to reduce its holdings "Excessive" Of gold with the direction The precious metal fell further from its record levels as demand for safe havens declined.
Dionko, who currently holds a seat on the bank’s Board of Governors, stated on Monday that gold constitutes about 13% of the central bank’s total international reserves, noting that this percentage is already higher than the reserves of other central banks in the region.
Diokno said: "Our gold reserves are already surplus". He added that ideally, gold reserves should range between 8% and 12% of total reserves, which amounted to about $109 billion in September 2025, the highest in nearly a year.
With the bank previously purchasing gold at a price of $2,000 dollaran ounce, recently reaching an all-time high, Diokno asked: "Shouldn’t we sell gold now? What will we do if the price drops?".
And The price of gold rose to nearly $4,053 an ounce on Monday, as progress in trade talks between the United States and China dampened demand for safe-haven assets.
Despite the recent decline, gold has posted overall gains of 55% this year, supported by central bank purchases.
Diokno said there is currently still a debate at the bank about whether to Whether it’s time to make profits or collect more gold.
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