Money

Weekly Market Recap: Bitcoin Leads Gains, Gold Faces Losses

As the week draws to a close, Bitcoin emerges as the top-performing investment among popular assets, while gold experiences a decline in value.

In the currency markets, the USD/TRY pair saw notable movements. Starting the week at 29.44, the US Dollar to Turkish Lira exchange rate reached a peak of 29.97 during the week, ultimately closing with a 1.17% increase at 29.82.

Similarly, the Euro/TL pair began the week at 32.56. The Euro saw fluctuations throughout the week, ranging from a low of 32.35 to a high of 32.85. The week concluded with a 0.31% increase, closing at 32.61.

Gold, represented by the XAU/USD pair, commenced the week at $2,060. Despite reaching a high of $2,078, gold experienced a decline to a low of $2,024. The week concluded with a decrease of 0.82%, closing at $2,044.

In the domestic market, gram gold (Gram Altın) started the week at 1,955 TL. Experiencing fluctuations during the week, it reached a low of 1,942 TL and a high of 1,984 TL. The week concluded with a 0.97% increase, closing at 1,959 TL.

The BIST 100 index initiated the week at 7,470 points, dipping to 7,399 points mid-week, and ultimately closing with a 2.12% increase at 7,628 points.

Bitcoin (BTC/USD) commenced the week at $42,140 and exhibited volatility throughout the week. Reaching a high of $45,875 and a low of $40,800, Bitcoin concluded the week with a 3.56% increase, trading at $43,655 as the week concluded.

In summary, Bitcoin emerged as the standout performer among popular investment assets, while gold faced a decline in value. Currency markets witnessed notable movements, with both the USD/TRY and Euro/TL pairs experiencing fluctuations throughout the week. Domestic markets, represented by the BIST 100 index, closed the week with a notable increase.

source: tr.investing.com / prepared by Melisa Beğiç

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