ISTANBUL — Gold bullion was the best-performing investment instrument in Türkiye in August, delivering a 7.93% real return when adjusted for consumer price inflation, according to data released by the Turkish Statistical Institute (TÜİK).
According to TÜİK’s latest data on the real returns of financial investment instruments, bullion gold generated a monthly real return of 7.17% when adjusted for the Domestic Producer Price Index (D-PPI) and 7.93% when adjusted for the Consumer Price Index (CPI).
Gold outperforms other investment instruments
When adjusted for D-PPI, government domestic debt securities (GDDS) provided a real return of 0.66% in August, followed by the euro at 0.61% and gross deposit interest at 0.33%.
The U.S. dollar and BIST 100 index, meanwhile, generated real losses of 0.86% and 1.83%, respectively.
When adjusted for CPI, GDDS delivered a real return of 1.38%, while the euro and deposit interest generated returns of 1.34% and 1.05%, respectively. The dollar declined by 0.15% in real terms, while the BIST 100 index recorded a 1.13% real loss.
Debt securities lead three-month performance
Over the three-month period, GDDS generated the highest real return among investment instruments, at 3.46% when adjusted for D-PPI and 4.77% when adjusted for CPI.
The BIST 100 was the worst performer over the same period, posting real losses of 7.15% based on D-PPI and 5.98% based on CPI.
Deposit interest leads six-month returns
Over six months, gross deposit interest provided the highest real return, at 1.19% based on D-PPI and 2.87% based on CPI.
Bullion gold, by contrast, recorded the largest real loss over the six-month period, declining 19.35% when adjusted for D-PPI and 18.01% when adjusted for CPI.
Gold leads annual returns
On an annual basis, bullion gold once again emerged as the top-performing investment instrument. It generated a real return of 19.73% when adjusted for D-PPI and 16.49% when adjusted for CPI.
Over the same period, GDDS and gross deposit interest generated real returns of 4.21% and 3.35%, respectively, when adjusted for D-PPI. The BIST 100, dollar and euro, meanwhile, recorded real losses of 0.20%, 8.36% and 8.68%, respectively.
When adjusted for CPI, GDDS and gross deposit interest posted real returns of 1.39% and 0.56%, while the BIST 100, dollar and euro recorded real losses of 2.90%, 10.84% and 11.16%, respectively.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök