Gold is most profitable investment in July

Investors in gold earned the most profit in July, Turkey's official statistics agency announced Thursday. Profits from gold, based on the Domestic Producer Price Index, or D-PPI, were 1.97 percent while the rates based on the Consumer Price Index, CPI, stood at 2.25 percent, according to figures from the Turkish Statistics Institute. Profit rates based on D-PPI from the country´s main stock exchange, Borsa Istanbul, were 10.56 percent, making it the most profitable financial investment in the last three months. Based on CPI, the exchange's profit rates were 9.58 percent in the same period. Based on D-PPI, investors who put their money in the dollar lost 0.57 percent in July, euro investors lost 0.74 percent and deposit interest investors were down 0.32 percent. However, government bond investors earned 0.99 percent in the same month. Compared with inflation figures, investors in the U.S. dollar lost 0.29 percent in June while investors of government bonds earned 0.29 percent. Bi-annually, the euro was the most profitable currency with rates of 4.07 based on D-PPI and 4.21 based on CPI.