{"id":30208,"date":"2026-03-12T18:03:32","date_gmt":"2026-03-12T18:03:32","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/td-securitiesten-ghali-cinin-guclu-gumus-talebi-batidaki-temkinli-havayi-dengeliyor-londrada-likidite-de-iyilesiyor\/"},"modified":"2026-03-12T18:03:32","modified_gmt":"2026-03-12T18:03:32","slug":"td-securitiesten-ghali-cinin-guclu-gumus-talebi-batidaki-temkinli-havayi-dengeliyor-londrada-likidite-de-iyilesiyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/td-securitiesten-ghali-cinin-guclu-gumus-talebi-batidaki-temkinli-havayi-dengeliyor-londrada-likidite-de-iyilesiyor\/","title":{"rendered":"TD Securities\u2019ten Ghali: \u00c7in\u2019in g\u00fc\u00e7l\u00fc g\u00fcm\u00fc\u015f talebi Bat\u0131\u2019daki temkinli havay\u0131 dengeliyor, Londra\u2019da likidite de iyile\u015fiyor"},"content":{"rendered":"TD Securities, \u015eanghay\u2019daki g\u00fcm\u00fc\u015f arbitraj\u0131n\u0131n (iki farkl\u0131 piyasadaki fiyat fark\u0131ndan yararlanma) \u00c7in\u2019de g\u00fc\u00e7l\u00fc al\u0131ma i\u015faret etti\u011fini, Bat\u0131\u2019daki piyasa kat\u0131l\u0131mc\u0131lar\u0131n\u0131n ise \u0130ran\u2019daki \u00e7at\u0131\u015fman\u0131n ard\u0131ndan temkinli kald\u0131\u011f\u0131n\u0131 bildiriyor. Bu ayr\u0131\u015fman\u0131n, Londra\u2019daki tezgah \u00fcst\u00fc (OTC; borsa d\u0131\u015f\u0131nda, bankalar ve arac\u0131 kurumlar aras\u0131nda yap\u0131lan) piyasalar\u0131n para ve i\u015flem ak\u0131\u015f\u0131 almaya devam etti\u011fi bir d\u00f6nemde ya\u015fand\u0131\u011f\u0131 belirtiliyor.\n\nNotta, \u00c7in\u2019de yeniden canlanan talep, 2026\u2019n\u0131n ilk aylar\u0131nda \u201ce\u015fi g\u00f6r\u00fclmemi\u015f\u201d bireysel yat\u0131r\u0131mc\u0131 (perakende) g\u00fcm\u00fc\u015f talebinin g\u00f6r\u00fcld\u00fc\u011f\u00fc \u00f6nceki d\u00f6neme ba\u011flan\u0131yor. Ayr\u0131ca bu talep art\u0131\u015f\u0131n\u0131n, \u0130ran\u2019daki sava\u015f \u00f6ncesindeki g\u00fcnlerde ba\u015flad\u0131\u011f\u0131 ifade ediliyor.\n\n<h3>\u00c7in Talebi Bat\u0131\u2019dan Ayr\u0131\u015f\u0131yor<\/h3>\nTD Securities, Londra\u2019daki g\u00fcm\u00fc\u015f kiralama oranlar\u0131n\u0131n (lease rate; g\u00fcm\u00fc\u015f\u00fcn bor\u00e7 verilip kiralanmas\u0131 kar\u015f\u0131l\u0131\u011f\u0131nda \u00f6denen faiz benzeri oran) arz\u0131n daha kolay bulundu\u011funa i\u015faret etti\u011fini s\u00f6yl\u00fcyor. Ayr\u0131ca k\u00fcresel g\u00fcm\u00fc\u015f stoklar\u0131n\u0131n talebi kar\u015f\u0131lama g\u00fcc\u00fcn\u00fcn, \u00f6nceki s\u0131k\u0131\u015f\u0131kl\u0131\u011fa k\u0131yasla iyile\u015fti\u011fi belirtiliyor.\n\n\u0130ran\u2019daki \u00e7at\u0131\u015fman\u0131n ard\u0131ndan g\u00fcm\u00fc\u015f piyasas\u0131nda net bir ayr\u0131\u015fma g\u00f6r\u00fcyoruz. Bat\u0131l\u0131 yat\u0131r\u0131mc\u0131lar temkinli kal\u0131rken, olaylar ba\u015flad\u0131ktan sonra b\u00fcy\u00fck g\u00fcm\u00fc\u015f ETF\u2019lerinden (borsada i\u015flem g\u00f6ren fon) 10 milyon onsun \u00fczerinde \u00e7\u0131k\u0131\u015f ya\u015fand\u0131. Bu isteksizlik, \u00c7in\u2019den gelen g\u00fc\u00e7l\u00fc fiziki (ger\u00e7ek metal) talebin yeniden h\u0131zlanmas\u0131yla dengeleniyor.\n\n\u015eanghay arbitraj\u0131 g\u00fc\u00e7l\u00fc bir sinyal veriyor: \u015eanghay Alt\u0131n Borsas\u0131\u2019ndaki primler (\u015eanghay fiyat\u0131n\u0131n Londra\u2019ya g\u00f6re fazlas\u0131) ons ba\u015f\u0131na 0,75 dolar\u0131n \u00fczerinde kal\u0131yor. Bu tablo g\u00fc\u00e7l\u00fc sanayi faaliyetleriyle destekleniyor; \u015eubat 2026 verileri, \u00c7in\u2019in g\u00fcne\u015f paneli \u00fcretiminin y\u0131ll\u0131k bazda %15 artt\u0131\u011f\u0131n\u0131 g\u00f6sterdi. Bu da \u00c7in\u2019deki al\u0131m\u0131n yaln\u0131zca yat\u0131r\u0131m ama\u00e7l\u0131 de\u011fil, sanayide ger\u00e7ek kullan\u0131m i\u00e7in de oldu\u011funu ortaya koyuyor.\n\n<h3>Londra Arz Sinyalleri \u0130yile\u015fiyor<\/h3>\nBiz de Londra\u2019daki tezgah \u00fcst\u00fc piyasalarda arz\u0131n iyile\u015fmesini izliyoruz. G\u00fcm\u00fc\u015f kiralama oranlar\u0131 d\u00fc\u015ft\u00fc; bu, metalin daha rahat bulunabildi\u011fine i\u015faret ediyor ve y\u0131l\u0131n ba\u015f\u0131ndaki s\u0131k\u0131\u015f\u0131kl\u0131kla belirgin bi\u00e7imde z\u0131t. Ge\u00e7en haftaki Commitments of Traders (COT; ABD\u2019de vadeli i\u015flemlerde b\u00fcy\u00fck yat\u0131r\u0131mc\u0131 gruplar\u0131n\u0131n pozisyonlar\u0131n\u0131 g\u00f6steren rapor) verileri de, \u201cmanaged money\u201d (profesyonel fonlar) grubunun g\u00fcm\u00fc\u015f vadeli i\u015flemlerinde net uzun (net long; al\u0131m y\u00f6nl\u00fc) pozisyonlar\u0131n\u0131 ikinci hafta \u00fcst \u00fcste azaltt\u0131\u011f\u0131n\u0131 g\u00f6sterdi.\n\nBu, 2025\u2019in b\u00fcy\u00fck b\u00f6l\u00fcm\u00fcnde g\u00f6r\u00fclen arz endi\u015felerine g\u00f6re belirgin bir de\u011fi\u015fim. O d\u00f6nemde stoklar h\u0131zla eriyordu. \u015eimdilik bu s\u0131k\u0131\u015f\u0131kl\u0131k hafifliyor. Mevcut ko\u015fullar, k\u00fcresel g\u00fcm\u00fc\u015f stoklar\u0131n\u0131n azalmaktan \u00e7ok dengelendi\u011fine i\u015faret ediyor.\n\nBu tablo, \u00f6n\u00fcm\u00fczdeki haftalarda fiyat\u0131n bant i\u00e7inde kalabilece\u011fini d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor: \u00c7in talebi a\u015fa\u011f\u0131 y\u00f6n\u00fc s\u0131n\u0131rlarken, Bat\u0131\u2019daki temkin ve iyile\u015fen arz yukar\u0131 y\u00f6n\u00fc s\u0131n\u0131rl\u0131yor. B\u00fcy\u00fck bir yukar\u0131 k\u0131r\u0131lma beklenmedi\u011fi i\u00e7in mevcut pozisyonlara kar\u015f\u0131 vade d\u0131\u015f\u0131 (out-of-the-money; kullan\u0131m fiyat\u0131 mevcut piyasa fiyat\u0131ndan uzak) al\u0131m opsiyonu (call option; belirli fiyattan alma hakk\u0131) sat\u0131\u015f\u0131yla gelir elde etmeye y\u00f6nelik stratejiler de\u011ferlendirilebilir. Opsiyon yat\u0131r\u0131mc\u0131lar\u0131, d\u00fc\u015f\u00fck oynakl\u0131ktan (volatilite; fiyat\u0131n h\u0131zl\u0131 dalgalanma derecesi) kazan\u00e7 sa\u011flayan yakla\u015f\u0131mlara da bakabilir; z\u0131t iki g\u00fc\u00e7 fiyat\u0131 dar aral\u0131kta tutabilir.\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>G\u00fcm\u00fc\u015fte kritik ayr\u0131\u015fma: \u015eanghay\u2019daki arbitraj ve sanayi talebi \u00c7in\u2019de g\u00fc\u00e7l\u00fc al\u0131m\u0131 g\u00f6sterirken, \u0130ran gerilimi Bat\u0131\u2019y\u0131 temkinli k\u0131ld\u0131; ETF \u00e7\u0131k\u0131\u015flar\u0131, d\u00fc\u015fen lease rate ve iyile\u015fen arz fiyat\u0131 bantta tutabilir.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-30208","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=30208"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30208\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}