Weekly Report of Investments: Borsa Istanbul posts solid gains, gold prices increase, and the dollar strengthens, while the euro declines.
This week, key investment tools in Turkiye showed mixed results, with Borsa Istanbul (BIST), gold, and the U.S. dollar making gains, while the euro experienced a decline against the Turkish Lira (TL). Investors in Borsa Istanbul saw positive returns as the BIST 100 index rose by 1.71% over the week, closing at 9,833.22 points. The index fluctuated between a low of 9,523.25 and a high of 9,888.40 points during the week.
Gold Prices See Modest Increase
In the precious metals market, the price of 24-karat gold traded at the Grand Bazaar increased by 0.33%, reaching ₺2,757 per gram. The price of a Republic gold coin rose by 2.28%, closing at ₺18,722, while the quarter gold coin’s price increased from ₺4,590 to ₺4,617 by the end of the week. These movements reflect a steady demand for gold as a safe-haven asset amid fluctuating currency values.
Dollar Strengthens While Euro Weakens
The U.S. dollar also saw an uptick this week, appreciating by 0.20% against the Turkish Lira, closing at ₺34.0690. In contrast, the euro faced a decline, dropping by 0.82% to ₺37.6870. This divergence in currency performance is indicative of the ongoing economic dynamics within the Eurozone and the broader global market.
Fund Performance Overview
Investment funds experienced mixed results, with general investment funds declining by 0.23% and pension funds decreasing by 0.41%. Among the various categories of investment funds, “Money Market” funds emerged as the top performers, delivering a 0.80% return for investors. This trend highlights the cautious approach investors are taking amidst global economic uncertainties, favoring liquidity and lower risk in their portfolios.
Weekly Market Recap
- Borsa Istanbul (BIST 100): Up 1.71%, closing at 9,833.22 points.
- Gold: Gram gold price rose 0.33% to ₺2,757.
- Dollar/TL: The dollar appreciated by 0.20% to ₺34.0690.
- Euro/TL: The euro declined by 0.82% to ₺37.6870.
- Cumhuriyet Gold Coin: Increased by 2.28%, reaching ₺18,722.
- Quarter Gold Coin: Rose from 4,590 TL to ₺4,617.
What to Watch for Next Week?
Investors will be closely monitoring global economic developments, particularly those affecting currency exchange rates and commodity prices. The potential impact of geopolitical events and central bank policies will also be under scrutiny as markets react to the latest news. As Borsa Istanbul continues to show resilience, market participants will be looking for cues on whether the current trends will sustain or if there will be a shift in the investment landscape.
Source: AA / Prepared by Irem Yildiz