Gold loses value, dollar and euro on the rise! Here are the week's winning and losing investment instruments
While Borsa Istanbul closed the week with a decline, the dollar and euro rose gradually; a loss of value in gold and investment funds drew attention.
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Stocks traded on Borsa Istanbul lost an average of 2.81 percent in value on a weekly basis. In contrast, upward movements were notable on the foreign exchange side. The dollar/TL exchange rate rose by 0.34 percent, and the euro/TL rate increased by 0.36 percent. The gram price of gold experienced a 0.37 percent decline this week.
The BIST 100 index fell to as low as 9,058.16 points during the week, while it saw a high of 9,464.53. The weekly close occurred at 9,167.58 points, a decline of 2.81 percent.
In the Grand Bazaar, the gram selling price of 24-karat bullion gold fell by 0.37 percent to 4,040 liras. The selling price of Republic gold similarly decreased by 0.36 percent to 27,320 liras. Quarter gold, which closed last week at 6,792 liras, fell to 6,770 liras with a 0.32 percent loss in value.
On the foreign exchange side, the US dollar increased by 0.34 percent to 38.5550 liras, while the euro/TL exchange rate rose by 0.36 percent to trade at 43.8730 liras.
Losses also stood out in investment funds this week. In general, investment funds lost 0.31 percent in value, while pension funds lost 0.96 percent. However, among these declines, "money market" funds drew attention by gaining 0.88 percent.