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Gold shines as maximum monthly real profit rate
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Recent data from the Turkish Statistical Institute reveals a tale of resilience for gold, contrasting starkly with the struggles of other investment options.

Gold ingots emerged as the only asset class to deliver positive real returns in January 2024, albeit modest at 0.35% based on the domestic producer price index (D-PPI). However, inflation measured by the consumer price index (CPI) eroded gains, resulting in a 2.06% loss.

The long-term appeal of gold shines brighter. Over the first quarter, gold ingots delivered the highest real profit of 7.23% (D-PPI) and 2.37% (CPI), outperforming even the stock market despite its initial losses.

The shining star of the year, gold ingots, yielded an impressive 22.25% real profit based on D-PPI and a respectable 6.93% based on CPI. This starkly contrasts with the significant losses suffered by other investments like stock exchange (-7.75% CPI) and government debt instruments (-48.25% CPI).

The stock market endured a challenging start to 2024, with negative real returns across the board. While the D-PPI suggests a slightly milder loss of 0.58%, the CPI paints a more concerning picture with a 2.96% decline.

The pain deepened in the second quarter, with the stock exchange experiencing its steepest real loss of 8.14% (D-PPI) and 12.30% (CPI).

The annual performance paints a mixed picture. While the D-PPI shows a modest real profit of 5.46%, the CPI reveals a deeper loss of 7.75%, highlighting the persistent headwinds faced by the Turkish stock market.

The US Dollar and Euro fared better than the stock market, offering some real profit depending on the timeframe and index used. However, their performance was less impressive compared to gold's dominance.

These instruments witnessed significant real losses across all timeframes, offering a stark reminder of the challenges posed by high inflation.

While the Turkish economic landscape presents its fair share of uncertainties, gold has emerged as a beacon of stability and potential growth for investors. However, diversifying portfolios with other asset classes, once inflation subsides, might offer a more balanced approach in the long run. As always, careful consideration of individual circumstances and risk tolerance is crucial before making any investment decisions. (ILKHA)


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