Gold emerged as the worst-performing investment instrument in Türkiye this week, recording a significant loss of 4.48%. While Borsa Istanbul stocks gained on average, and the US dollar posted a slight rise, gold prices sharply declined.
The BIST 100 index experienced volatility, hitting a low of 9,516.86 points and a high of 9,771.71 points, before closing the week at 9,668.36 points — up 2.96% compared to the previous week’s close.
24-Carat Gold Falls Below 4,000 Lira
In Istanbul’s Grand Bazaar, the gram sale price of 24-carat gold bullion dropped by 4.48% this week, falling to 3,964 lira. The sale price of the Republic gold coin also decreased by 4.44%, landing at 26,809 lira.
The quarter gold coin, which was priced at 6,951 lira last weekend, declined by 4.47% to 6,640 lira.
Foreign Exchange Movements
The US dollar rose by 0.21% this week, reaching 38.8270 lira. Meanwhile, the euro saw a decrease of 0.63%, falling to 43.4300 lira.
Investment and Pension Funds Provided Gains
Despite gold’s poor showing, investment funds increased by 1.65% and pension funds gained 1.31% this week in Türkiye.
Among the investment fund categories, equity funds delivered the highest return with a weekly gain of 2.94%.
This data highlights a week of mixed outcomes for investors in Türkiye, with strong performance in equities and funds, contrasted by a notable decline in precious metals.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök