Stock market loses, gold melts: The week's top gainer surprises

Between May 8 and May 15, a negative outlook prevailed in the financial markets. While the weekly decline in Borsa Istanbul stocks reached 4.61 percent, the gram price of gold also experienced a 4.16 percent drop. The highest gain was seen in the US dollar.

The BIST 100 index moved between 14,265.67 and 15,204.92 points throughout the week and finished the week at the 14,367.60 level. This closing was 4.61 percent behind the previous week.

In the Grand Bazaar, the gram selling price of 24-karat bullion gold finished the week at 6,630 liras, recording a 4.16 percent loss in value. The Republic gold coin decreased by 4.14 percent, falling to the 44,671 lira level. The price of the quarter gold coin also fell from 11,588 liras at the end of last week to 11,105 liras, a 4.16 percent decline.

In the foreign exchange market, the dollar/TL exchange rate increased by 0.39 percent, rising to 45.5440 liras. The Euro, on the other hand, fell by 0.81 percent and traded at 53.0320 liras.

While investment funds closed last week with a slight decline of 0.03 percent, pension funds brought a 0.10 percent increase to their investors. Among fund categories, the product that gained the most was recorded as "Fund Basket Funds" with a 1.16 percent rise.

News Source: 12punto