Economy in Turkey: “Gold, Stocks, Dollar or Euro.. Which Investment Paid Off This Week?”
By the end of the first week of November, the performance of major investment instruments became clear. Investors who chose gold or the stock market were disappointed, while those who turned to investment funds saw better results. Here’s how gold, stocks, the dollar, the euro, and various funds performed this week.
Stock Market and Gold Lose Ground
The BIST 100 Index fluctuated between 10,848.97 and 11,152.28 points before closing the week at 10,924.53 points, down 0.43% from the previous week’s close. Following the stock market, gold also posted one of the weakest performances.
The gram price of gold fell by 0.08%, ending the week at 5,427 lira in Istanbul’s Grand Bazaar. Similarly, the price of a Republic gold coin dropped by 0.08% to 36,612 lira, while a quarter gold coin decreased slightly from 9,098 lira to 9,091 lira.
Dollar and Euro on the Rise
In contrast, foreign currencies recorded modest gains. The US dollar rose 0.39% to 42.2140 lira, while the euro climbed 0.73% to 48.9150 lira.
Funds Lead the Week
Investment funds stood out as the week’s top performers, gaining 0.79% overall. Retirement funds also saw a 0.87% increase. Among all fund categories, equity-based funds performed best with a 2.25% rise, making them the strongest investment choice of the week.
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