Investors are changing course: Stock market declines, gold and foreign currency on the rise! Here are the week's winning investment vehicles...

This week, the direction in financial markets reversed. While stocks traded on Borsa Istanbul lost an average of 3.23% in value on a weekly basis, the rises in gold and foreign currency drew attention.

The BIST 100 index fluctuated between 9,326.14 and 9,683.25 points throughout the week, closing the week at 9,356.04 points, a 3.23% decline compared to the previous close. This drop in the index led investors to turn toward safe havens.

In the Grand Bazaar, the price of gram gold increased by 5.85% on a weekly basis, reaching 4,196 liras. Republic gold rose by 5.80% to 28,363 liras. Quarter gold, which was trading at 6,640 liras at the end of last week, also gained 5.84% in value, rising to 7,028 liras.

An upward trend also prevailed in foreign exchange rates. The US dollar closed the week with a 0.53% increase at 39.0310 liras, while the euro saw a sharper rise of 1.69%, climbing to 44.1660 liras.

There was also an increase in investment funds. On a weekly basis, investment funds gained an average of 0.71% in value, while the rise in pension funds was 0.74%. On a category basis, the best-performing funds were "precious metals" funds with a 4.46% increase.

These developments indicate that investors are turning toward vehicles they perceive as safer under volatile market conditions.

News Source: 12punto