Weekly Investment Summary: Gold Takes the Lead
This week’s market review shows a notable shift in the performance of various investment tools. While the BIST 100 index, the dollar, and the euro posted declines, gold stood out as the most profitable asset. Here’s a detailed breakdown of how each investment fared over the past week.
Gold Emerges as the Top Performer
Gold had a standout week, with its price per gram rising by 2.29%. The increase brought the price of 24-karat bullion gold to ₺2,812. Additionally, the price of a Republic gold coin rose by 0.89%, reaching ₺18,507.
- Gold Performance:
- 24K bullion gold: ₺2,812 per gram (+2.29%)
- Republic gold coin: ₺18,507 (+0.89%)
- Quarter gold: increased from ₺4,605 to ₺4,650
This rise in gold prices reflects its enduring value as a safe-haven asset amid broader market fluctuations.
BIST 100 Index Declines
Borsa Istanbul’s BIST 100 index faced a slight decline, closing the week down by 0.88%. The index fluctuated between 9,274.55 and 9,838.01 points but ultimately ended the week at 9,685.49.
Key stats for BIST 100:
- Lowest point: 9,274.55
- Highest point: 9,838.01
- Weekly decline: 0.88%
Currency Movements: Dollar and Euro Fall
The foreign exchange market experienced minor setbacks this week. The US dollar weakened against the Turkish lira, with a 0.16% decline, bringing the exchange rate to ₺33.9250. Similarly, the euro saw a 0.19% drop, closing at ₺37.6260.
Currency movements:
- Dollar/TL: 33.9250 (-0.16%)
- Euro/TL: 37.6260 (-0.19%)
Mutual Funds and Pension Funds in Decline
Investment funds and pension funds both posted losses this week.
- Investment funds dropped by 0.89%.
- Pension funds recorded a 0.97% decline.
Among the categories of investment funds, the top performer was the “Money Market” funds, which gained 0.98%, offering investors a small but steady return.
Fund performance:
- Investment funds: -0.89%
- Pension funds: -0.97%
- Top-performing fund: Money Market (+0.98%)
What’s Driving the Market?
This week’s performance highlights the continued volatility in stock and foreign exchange markets, with global economic uncertainty influencing investor behavior. Gold’s rise can be attributed to its status as a secure investment during times of market turbulence, while the declines in stocks, the dollar, and the euro reflect cautious investor sentiment.
Key Takeaways:
- Gold: Leading performer with a 2.29% gain.
- BIST 100: Decreased by 0.88%, closing at 9,685.49 points.
- Dollar/TL: Dropped by 0.16% to ₺33.9250.
- Euro/TL: Fell by 0.19% to ₺37.6260.
- Investment funds: 0.89% decline, with Money Market funds gaining 0.98%.
Investors looking for safe-haven assets will continue to keep an eye on gold, as it remains resilient despite broader market challenges.
Source: Dunya.com / Prepared by Irem Yildiz