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Türkiye’s stock market extended its rally Friday, with Borsa Istanbul’s benchmark BIST 100 index climbing above the 13,000-point mark for the first time, setting a new record as banking shares led gains.
The index rose more than 1% in early trading, pushing Borsa Istanbul to its highest level on record as investor sentiment continued to improve.
The BIST 100 opened the final trading day of the week at an all-time high of 12,924.20 points, up 0.57%, or 72.70 points, from the previous close.
On Thursday, the index gained 0.97% to close at 12,851.49 points, with daily trading volume totaling 219.8 billion Turkish liras ($5.07 billion).
Since the start of the year, Borsa Istanbul has gained more than 15%. In 2025, the benchmark index posted a total increase of about 13%.
As of 9:50 a.m. local time (0650 GMT), the Turkish lira traded at 43.3670 to the U.S. dollar, 50.9625 to the euro and 58.5560 to the British pound.
The price of Brent crude oil stood at $64 per barrel, while the ounce price of gold was $4,952.15.
Gold prices in Türkiye also continued to rise. The price of gold per gram traded at 6,905 liras after starting the day with gains.
On Thursday, gram gold rose 1.9% in line with higher ounce prices, closing at 6,842.7 liras. It extended gains Friday, trading at 6,905 liras as of 9:35 a.m. Türkiye time, up 1%.
At jewelers in Istanbul’s Grand Bazaar, the gram selling price reached 7,075 liras on Friday morning, surpassing 7,000 liras in the physical market for the first time.
Quarter gold was selling at 11,545 liras, while Republic gold traded at 45,968 liras.
The ounce price of gold, which touched a record high of $4,967.4 earlier, was trading at $4,954, up 0.8% from the previous close.
Gold prices climbed to record levels on Friday, supported by ongoing geopolitical and economic uncertainty that continued to fuel demand for safe-haven assets.
Spot gold rose about 0.4% to $4,954 an ounce as of 0700 GMT, after hitting an all-time high of $4,967.48 earlier in the session. Prices gained about 7.8% over the week.
Gold has surged roughly 80% over the past 12 months and about 15% since the start of the year, driven by heightened trade and geopolitical tensions as well as interest rate cuts by major central banks.
Analysts said continued central bank gold purchases, expectations that the U.S. Federal Reserve will cut interest rates, and persistent geopolitical risks are key factors behind the rally.
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They also pointed to selling pressure in Japan’s bond market, noting that rising yields have reduced the appeal of carry trades and pushed investors toward safe-haven assets.
Analysts said markets are also watching for Türkiye assessments expected later Friday from international credit rating agencies Fitch Ratings and Moody’s.
A heavy data agenda is also being monitored, including the financial services confidence index and domestic financial accounts data, as well as the global purchasing managers’ index data for the manufacturing and services sectors.
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