Skip to content
News from Turkey

Gold Outshines in 2025 as Top Real Return Asset, BIST 100 Posts Sharp Losses

gold

According to the latest data released by the Turkish Statistical Institute (TÜİK), government bonds (DİBS) offered the highest real return in June 2025, but over longer timeframes, gold (külçe altın) stood out as the top-performing investment instrument.

In June, when adjusted for the Domestic Producer Price Index (Yİ-ÜFE), DİBS yielded the highest monthly real return at 1.73%, followed by the Euro (1.50%), deposit interest (0.98%), and gold (0.62%). The U.S. dollar (-0.70%) and the BIST 100 index (-2.16%) both recorded real losses for investors.

When deflated using the Consumer Price Index (TÜFE), the ranking shifted slightly:

  • DİBS again led with 2.82%,

  • followed by the Euro (2.59%),

  • deposits (2.06%),

  • gold (1.71%), and

  • U.S. dollar (0.36%),
    while the BIST 100 index fell by 1.10% in real terms.

Gold Leads Over 3, 6, and 12-Month Horizons

Despite short-term gains by government bonds, gold remains the best-performing asset across longer periods:

3-Month Period (Yİ-ÜFE-adjusted):

  • Gold returned 10.35%,

  • BIST 100 was the worst performer at -14.03%

6-Month Period:

  • Gold again led with 22.37% (Yİ-ÜFE) and 21.37% (TÜFE)

  • BIST 100 posted losses exceeding -18%

12-Month Period:

  • Gold delivered a real return of 40.31% (Yİ-ÜFE) and 29.29% (TÜFE), maintaining its lead

  • Deposits were the second-best with 14.41% (Yİ-ÜFE)

  • BIST 100 index saw steep annual losses: -27.81% (Yİ-ÜFE) and -33.48% (TÜFE)

BIST 100 Posts Deepest Real Losses Across All Periods

The Istanbul Stock Exchange’s benchmark index, BIST 100, was the worst-performing investment instrument across all examined periods—three months, six months, and one year—highlighting investor concerns over equity market volatility amid macroeconomic uncertainty.

Related articles