Silver Gold

How are commodities like Silver and Gold valued in the Philippines?

How are commodities like Silver and Gold valued in the Philippines? Are they valued by ounce like here in America?

For example one ounce of Gold $950 (US) P39900 (Phil) per ounce?

The Philippines uses the metric system. One kilogram of of gold from the Philippine is about 5,000,000 pesos. It is illegal to sell gold or silver within the Philippines.

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