Guides · Updated with September 2026 data
Gold, dollar or BIST 100 in Turkey? Returns after inflation
By TÜİK's data, real (inflation-adjusted) returns over the last 5 years (October 2021 to September 2026) were: Gold +80.4%, BIST 100 +24.4%, USD −25.7%, EUR −27.3%, Deposit −46.5%, Bonds −69.9%. Over the last 12 months: Deposit +10.6%, Gold +5.3%, Bonds +3.9%, BIST 100 −4.6%, USD −9.2%, EUR −11.0%, while consumer prices rose 29.7%.
Last 1, 3, 5, 10 and 20 years
| Asset | Last 1 year | Last 3 years | Last 5 years | Last 10 years | Last 20 years |
|---|---|---|---|---|---|
| Gold bullion | +5.3% | +55.4% | +80.4% | +244.8% | +609.7% |
| US dollar | −9.2% | −30.3% | −25.7% | +6.0% | −1.2% |
| Euro | −11.0% | −24.9% | −27.3% | +8.9% | −10.8% |
| BIST 100 index | −4.6% | −35.2% | +24.4% | +13.2% | +8.3% |
| Government bonds (DİBS) | +3.9% | −22.6% | −69.9% | −76.3% | −64.1% |
| TL deposit | +10.6% | +15.3% | −46.5% | −50.7% | −36.5% |
| Consumer prices (CPI) | +29.7% | +158.3% | +665.2% | +1,446.5% | +3,237.8% |
Real (CPI-adjusted) returns; every period ends at the September 2026 average. Deposits are gross and renewed monthly, BIST 100 excludes dividends. Bond data starts in January 2005.
The last 12 months as a chart
Table
| Asset | Nominal | Real (CPI) |
|---|---|---|
| TL deposit | +43.4% | +10.6% |
| Gold bullion | +36.6% | +5.3% |
| Government bonds (DİBS) | +34.8% | +3.9% |
| BIST 100 index | +23.8% | −4.6% |
| US dollar | +17.7% | −9.2% |
| Euro | +15.5% | −11.0% |
Use it in ChatGPT
Keşke is a ChatGPT plugin; ask it like this:
- “Keşke: real returns of gold, USD and BIST 100 over the last 5 years?”
- “Keşke: which assets beat Turkish inflation in 2025?”
FAQ
What is a real return?
The return after inflation: the lira gain adjusted for how much prices rose over the same period. A negative real return means the money lost buying power.
Where is the data from?
TÜİK's monthly bulletin of real rates of return of financial investment instruments (Kaynak: TÜİK), January 1997 to September 2026.
Is this investment advice?
No. These are results calculated from TÜİK's past data; they don't predict the future or say what to buy.
Kaynak: TÜİK (real rates of return of financial investment instruments). Past returns don't predict future returns; not investment advice.