Gold, which is indispensable for long-term investments, made the face of its investors laugh. Those who keep their money in dollars and euros earn less than those who buy gold. In 2009, every 10 thousand pounds of gold investment in 2019 reached 50 thousand 870 pounds. 37 thousand 627 pounds in the same amount of money invested in the dollar, while the figure was 27 thousand 535 pounds in euros.
Bad day friend gold didn’t surprise his investors again. Although the attention has been paid to the foreign currency due to the excessive increase in the exchange rate in recent years, the earnings of those who invested in gold were much higher than those who paid their money in dollars and euros. Gold investor in 1-year comparison, 24 percent, 412 percent in 10-year comparison has gained. Since the beginning of this year, the investor who uses gold 10 thousand lira to 12 thousand 430 pounds. 10 thousand pounds of gold taken 10 years ago in 2019 in the Turkish lira equivalent of 51 thousand 214 pounds was calculated. The reasons such as trade wars, US-Iran tension and global growth worries have influenced the choice and rise of gold, which is regarded as a safe haven in international markets.
Lost in foreign currency
Those who keep their money in dollars and euros instead of gold and think that they will make more money from foreign currency by not trusting their own country’s money are disappointed. Since the beginning of the year, 10 thousand 847 pounds in every 10 thousand dollars, 10 thousand 451 pounds in the euro was. The table did not change in the 10-year comparison. December 31, 2009, 10 thousand pounds in exchange for money on 29 November 2019, 37 thousand 578 pounds was the dollar. On the same date, the preference of those who favor the euro 10 thousand pounds was 27 thousand 568 pounds.
Dollarization in progress
At the beginning of this year, when dollarization reached its highest level, 1 quadrillion 43 billion 708 million pounds of Turkish lira was utilized, while 1 quadrillion 15 billion 598 million pounds of foreign currency assets were held. The figure rose steadily in favor of foreign exchange, and the latest data released on November 22 showed that dollarization continued to decelerate. Those who prefer deposits in investment 1 quadrillion 187 billion 160 million pounds in the Turkish lira, 1 quadrillion 259 billion 681 million pounds took part in the account of foreign currency deposits.
Analysts say gold is the world’s common currency. Although each country has its own money, it is pointed out that gold, which is considered as the only investment instrument in every country in the international arena, will provide high returns in the coming periods. Mark Mobius, investment ‘guru’, is among the analysts who say gold must be in the portfolio. Waiting for gold to rise, Mobius said, “I think everyone should keep 10 percent of their assets as physical gold. I expect the gold to continue its output. Of course there may be surge. But the more important discussion is the supply of money. Central banks in the world are pumping money into the system. Now comes the crypto money. Nobody knows how much money is in the system. People even started to ask, ‘What is money?’ At the end of the day, gold is the main thing. ”
President of the Chamber of Jewelers Mustafa Atayık, who will be popular in 2020, said that gold is an investment and accumulation tool that provides stable earnings for investors. Atayık said, “Our citizens can continue to evaluate their savings under and in jewelery. We strongly recommend that investors evaluate 40-50 percent of their investments. Gold, which is accepted as the common currency of the world, has always earned and continues to earn to its investors in the medium and long term. ”
Declines become an opportunity for purchase
Ahlatçı Investment Research Manager Barış Ürkün said that gold prices have been withdrawn a little in the last days of optimism and this creates an opportunity for purchase. Urun, “I do not expect a rise below the short term. If good signals come between the US and China, it may be possible to see some further decline. In this case, gram gold before 264 and then 252 pounds may decline to levels. However, these decreases are an opportunity for long-term investors to make purchases. At least 30 percent of the portfolios should be gold. ”