Volatile week in the markets: Gold and euro declined, dollar closed higher
Investors faced a volatile week in the financial markets. While the BIST 100 index, gold, and the euro lost value, the dollar ended the week with gains. The surprise winners of the week were investment funds.
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The Borsa Istanbul index displayed a volatile performance this week. While the lowest level of the week was recorded at 14,212.29 points, the BIST 100 managed to climb to a high of 14,616.14 points, but finished the week at 14,409.07 points, losing 1.23 percent in value compared to the previous week.
The selling price of 24-karat gram gold traded at jewelers decreased by 2.40 percent, falling to 6,859 TL. The price of Republic gold similarly dropped by 2.39 percent to 46,205 TL. Quarter gold, which saw the 11,772 TL level last week, experienced a 2.41 percent decline this week, falling to 11,489 TL.
On the foreign exchange front, the US dollar provided a return of 0.38 percent to its investors, rising to 45.0240 TL. The euro, however, fell to 52.7850 TL with a loss of 0.61 percent, disappointing its investors.
Activity was notable in the fund markets. Investment funds closed this week with a value increase of 0.71 percent, while pension funds rose by 0.41 percent. Among the investment fund categories, the group that gained the most was "Mixed and Variable Funds" with a return of 1.03 percent.
With this picture, while gold and the euro were at the forefront among the week's losers, investment funds, along with the dollar, brought smiles to their investors.