Top Performing Investments of the Week: Winners in the Turkish Market

Week of Investments: Gold Gains 0.37%, Borsa Istanbul Suffers a 2.59% Drop, and Euro Appreciates Against the Lira

This week saw varying performances across investment instruments, with Borsa Istanbul’s stocks declining, the US dollar weakening slightly against the Turkish lira, and gold prices rising.

In detail:

  • Borsa Istanbul: The BIST 100 index experienced a volatile week, reaching a low of 10,358.55 points and a high of 10,758.92 points. Ultimately, it closed at 10,400.48 points, down by 2.59% from the previous week’s closing.
  • Currency Exchange: The US dollar saw a marginal decrease of 0.04%, settling at ₺32.2160. Meanwhile, the euro appreciated by 0.21%, ending the week at 35.0330 lira.
  • Gold: On the precious metals front, the price of 24-karat gold per gram increased by 0.37% to 2,430 lira in Istanbul’s Grand Bazaar. The sale price of a republic gold coin rose by 1.33% to ₺16,190, whereas the price of a quarter gold coin fell to ₺3,975 from ₺4,010.

Investment funds showed mixed results:

  • Investment Funds: Overall, investment funds fell by 0.20%, and individual retirement funds decreased by 0.40%. However, within the investment funds category, “Money Market” funds stood out with a gain of 0.97%.

These insights highlight the diverse performance of various investment vehicles over the past week, offering valuable information for investors looking to navigate the current market outlook.

Source: / Prepared by Irem Yildiz

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