EUR/USD
1.16381
0.061%
Gold
4027.46
-1.869%
Oil
61.351
0.057%
USD/JPY
152.973
0.098%
GBP/USD
1.33398
0.214%
GBP/JPY
204.067
0.313%
Real-time News
IBM (IBM.N) is launching a digital asset platform designed to help financial institutions, governments, and businesses develop blockchain-based services to capitalize on the growing crypto market, according to a news release on October 27. The new product, called Digital Asset Haven, was developed jointly with crypto wallet technology provider Dfns. The two companies stated in a statement on Monday that they aim to capitalize on growing client demand for digital asset services by providing a one-stop solution.The Colombian peso opened 0.3% lower against the dollar after the United States imposed sanctions on oil companies.German Geoscience Research Center GFZ: A 6.5 magnitude earthquake occurred in the Leward Islands region of the Caribbean Sea.Delta Air Lines (DAL.N): Starting in October 2026, it will launch direct flights from its headquarters in Atlanta to Riyadh.1. Gold Price Rise: Gold prices have continued to strengthen since their 2022 low of $1,614, recently reaching a record high of $4,381, a cumulative increase of over $2,760. 2. Historical Reserves: The Bangko Sentral ng Pilipinas gold reserves peaked at 274.4 tons (Q1 2003), then declined sharply, reaching a low of 126.9 tons (Q3 2007), during which time gold prices continued to rise. The banks reserves rebounded after 2007, stabilizing from 2012 to early 2020. They have declined again since 2020, with the most recent reserves at 129.7 tons (Q2 2025). 3. Recent Reductions: On a quarterly basis, the Bangko Sentral ng Pilipinas (BSP) has been reducing its holdings from Q3 2023 to Q3 2024, with reserves falling from 164.8 tons to 128.1 tons. On an annual basis, the Bangko Sentral ng Pilipinas (BSP) has seen more gold reductions than increases over the past five years, with a reduction of over 28 tons in 2024 (concentrated in the first half of the year). 4. Gold Reserve Percentage: Despite recent gold reductions, the BSPs gold reserves have fluctuated around 10% of total reserves. Entering 2025, the proportion of gold reserves has risen above 12%, most recently reaching 12.9% (in the second quarter of 2025). 5. Last Years Statement: In September 2024, the BSP issued a statement on gold sales, stating that it had taken advantage of the rising gold price to generate additional income while maintaining the primary purpose of holding gold: insurance and security. 6. Latest Statement: BSP official Diokno stated that with waning safe-haven demand and gold prices expected to fall further from their historical highs, the BSP should sell some of its "excess" gold reserves. He noted that gold should ideally account for between 8% and 12% of central bank reserves.
