05/05/2026
In the first half of 2024, the Bangko Sentral ng Pilipinas (BSP) sold 29.4 metric tons of gold—under an “active reserve management strategy.”
At the time of sale, gold traded between $2,000–$2,400 per ounce.
Today, November 2025, gold is trading at $4,080–$4,100 per ounce, the highest in history.
How big was the loss?
29.4 metric tons = ~945,231 ounces.
If BSP sold at an average of $2,200, and gold is now $4,080, the price gap is roughly $1,880 per ounce.
Estimated loss: ~$1.77 BILLION USD
That’s ₱100+ BILLION gone because we sold too early.
₱100+ BILLION — enough to:
• Feed millions of hungry Filipino children
• Fund nationwide hospital modernization
• Build thousands of classrooms
• Strengthen and modernize disaster management systems
But instead of appreciating with the global surge, the gold is gone—sold at the wrong time, for the wrong price.
Now the questions that every Filipino has the right to ask:
1. WHERE DID THE GOLD SALE MONEY ACTUALLY GO?
If we sold almost 30 tons of gold, where is the proceeds reflected today?
Did it go into the Treasury?
Was it used to plug deficits?
Is it sitting somewhere—or already spent?
Sana naman hindi ninakaw.
2. WHO BOUGHT OUR GOLD?
Which entities or foreign buyers acquired our reserves at bargain-level 2024 prices, only to watch gold double in value months later?
Were these normal market buyers—or politically connected entities?
3. WHO AUTHORIZED THE SALE?
Who approved unloading a massive chunk of our reserves despite global forecasts that gold would skyrocket due to inflation, geopolitical tension, and currency instability?
4. WHAT MODELLING JUSTIFIED SELLING WHEN THE WHOLE WORLD WAS BUYING?
Other central banks were increasing gold reserves. Why did ours do the opposite?
5. WAS THIS REALLY “RESERVE MANAGEMENT,” OR FISCAL DESPERATION?
Was the BSP pressured to liquidate hard assets to cover:
• Budget shortfalls?
• Mounting debt?
• Cashflow problems caused by government overspending?
• Prop up a corruption-soaked budget?
6. WHERE IS THE AUDIT TRAIL?
You don’t lose ₱100 billion without a trace.
Where is the official accounting and public disclosure?
👊 POWER PUNCH
This is not a minor policy mistake.
It is one of the biggest financial losses in recent history—a blow to national reserves at a time of rising debt, surging poverty, and collapsing investor trust.
We, the Filipino people, deserve answers.
Where is the money?
Who bought our gold?
Who made the call?
And who will be held responsible for this ₱100-billion mistake?
//Rob Rances
