{"id":30481,"date":"2026-03-17T06:06:40","date_gmt":"2026-03-17T06:06:40","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/asya-islemlerinde-altin-5-000-dolara-dogru-geriledi-faiz-indirimi-iyimserligi-zayiflarken-gozler-fed-kararina-cevrildi\/"},"modified":"2026-03-17T06:06:40","modified_gmt":"2026-03-17T06:06:40","slug":"asya-islemlerinde-altin-5-000-dolara-dogru-geriledi-faiz-indirimi-iyimserligi-zayiflarken-gozler-fed-kararina-cevrildi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/asya-islemlerinde-altin-5-000-dolara-dogru-geriledi-faiz-indirimi-iyimserligi-zayiflarken-gozler-fed-kararina-cevrildi\/","title":{"rendered":"Asya i\u015flemlerinde alt\u0131n 5.000 dolara do\u011fru geriledi; faiz indirimi iyimserli\u011fi zay\u0131flarken g\u00f6zler Fed karar\u0131na \u00e7evrildi"},"content":{"rendered":"Alt\u0131n, Sal\u0131 g\u00fcn\u00fc Asya i\u015flemlerinin erken saatlerinde 5.000 dolar civar\u0131nda hafif geriledi. ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) \u00c7ar\u015famba g\u00fcn\u00fc verece\u011fi karar \u00f6ncesinde, k\u0131sa vadede faiz indirimi beklentileri zay\u0131flad\u0131.\n\nABD-\u0130srail\u2019in \u0130ran\u2019la sava\u015f\u0131 \u00fc\u00e7\u00fcnc\u00fc haftas\u0131na girerken petrol varil ba\u015f\u0131na 100 dolar\u0131n \u00fczerinde kald\u0131. Ham petrol fiyatlar\u0131ndaki art\u0131\u015f enflasyon endi\u015felerini art\u0131rd\u0131. Bu durum, yak\u0131n zamanda faiz indirimi beklentilerini azaltt\u0131 ve faiz getirisi olmayan varl\u0131klar\u0131 (alt\u0131n gibi kupon\/faiz \u00f6demeyen yat\u0131r\u0131mlar) bask\u0131lad\u0131.\n\n

Fed Politika G\u00f6r\u00fcn\u00fcm\u00fc<\/h3>\nFed\u2019in \u00c7ar\u015famba g\u00fcn\u00fc yap\u0131lacak Mart toplant\u0131s\u0131nda federal fonlama faizini (bankalar\u0131n birbirine gecelik bor\u00e7 verirken uygulad\u0131\u011f\u0131 temel faiz) %3,50\u2013%3,75 aral\u0131\u011f\u0131nda sabit tutmas\u0131 bekleniyor. Baz\u0131 tahminler, bir sonraki indirimlerin 2026\u2019da olabilece\u011fini g\u00f6steriyor; indirimin h\u0131z\u0131 ve b\u00fcy\u00fckl\u00fc\u011f\u00fc ise net de\u011fil.\n\nCME FedWatch arac\u0131na g\u00f6re Fed fon vadeli i\u015flemleri (piyasan\u0131n gelecekteki faiz seviyesine dair beklentisini fiyatlayan kontratlar) art\u0131k Eyl\u00fcl\u2019de indirim ihtimalini d\u0131\u015fl\u0131yor ve Aral\u0131k\u2019ta tek bir indirime i\u015faret ediyor. Enflasyon riski g\u00fcndemde kald\u0131\u011f\u0131 i\u00e7in piyasa fiyatlamas\u0131 de\u011fi\u015fti.\n\nAlt\u0131n, yayg\u0131n olarak de\u011fer saklama arac\u0131 ve \u00f6deme arac\u0131 olarak g\u00f6r\u00fcl\u00fcr; ayr\u0131ca m\u00fccevher yap\u0131m\u0131nda da al\u0131n\u0131r. Enflasyona ve para birimindeki de\u011fer kayb\u0131na kar\u015f\u0131 \u201ckoruma\u201d amac\u0131yla (hedge: fiyat\/kur\/enflasyon riskini azaltma y\u00f6ntemi) s\u0131k kullan\u0131l\u0131r; \u00e7\u00fcnk\u00fc tek bir kurumun y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc de\u011fildir.\n\nMerkez bankalar\u0131 alt\u0131n\u0131n en b\u00fcy\u00fck sahipleridir. D\u00fcnya Alt\u0131n Konseyi\u2019ne g\u00f6re 2022\u2019de 1.136 ton (yakla\u015f\u0131k 70 milyar dolar) alt\u0131n eklediler; bu, y\u0131ll\u0131k bazda kay\u0131tlardaki en y\u00fcksek seviyedir.\n\n

Piyasa Etkenleri ve Pozisyonlanma<\/h3>\nAlt\u0131n \u00e7o\u011fu zaman ABD Dolar\u0131 ve ABD Hazine tahvilleriyle ters y\u00f6nde hareket eder. Riskli varl\u0131klara (hisse gibi fiyat\u0131 daha oynak yat\u0131r\u0131mlar) kar\u015f\u0131 da genelde z\u0131t tepki verebilir; jeopolitik geli\u015fmeler, resesyon (ekonomik daralma) endi\u015feleri ve faiz de\u011fi\u015fimleri alt\u0131n\u0131 etkileyebilir.\n\n2025\u2019te olu\u015fan tabloya g\u00f6re, \u00f6n\u00fcm\u00fczdeki haftalarda alt\u0131n\u0131n y\u00f6n\u00fcnde jeopolitikten \u00e7ok faiz beklentileri belirleyici g\u00f6r\u00fcn\u00fcyor. Orta Do\u011fu\u2019daki s\u00fcregelen \u00e7at\u0131\u015fma ge\u00e7en y\u0131l petrol\u00fc 100 dolar\u0131n \u00fczerine ta\u015f\u0131d\u0131 ve bu art\u0131\u015f\u0131n Fed\u2019in faiz indirimlerini erteleme karar\u0131n\u0131 etkiledi\u011fi g\u00f6r\u00fcl\u00fcyor. B\u00f6ylece y\u00fcksek faiz ortam\u0131 olu\u015ftu; bu da alt\u0131n gibi faiz getirisi olmayan varl\u0131klar\u0131 bask\u0131lamaya devam ediyor.\n\nBu \u015fartlarda, t\u00fcrev \u00fcr\u00fcn (fiyat\u0131 ba\u015fka bir varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler; \u00f6rn. vadeli i\u015flem ve opsiyon) yat\u0131r\u0131mc\u0131lar\u0131 i\u00e7in oynakl\u0131k (volatilite: fiyat\u0131n h\u0131zl\u0131 ve geni\u015f aral\u0131kta hareket etmesi) \u00f6ne \u00e7\u0131k\u0131yor. Alt\u0131n opsiyonlar\u0131nda ima edilen oynakl\u0131\u011f\u0131n (opsiyon fiyatlar\u0131na yans\u0131yan beklenen volatilite) y\u00fckseldi\u011fi g\u00f6r\u00fcl\u00fcyor. Bu, piyasan\u0131n jeopolitik risk ile para politikas\u0131 aras\u0131nda karars\u0131z kald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Buna g\u00f6re long straddle veya strangle gibi stratejiler (opsiyonla iki y\u00f6nl\u00fc b\u00fcy\u00fck hareketten faydalanmay\u0131 hedefleyen yap\u0131lar) fiyat\u0131n y\u00f6n\u00fcnden ba\u011f\u0131ms\u0131z olarak sert harekette kazan\u00e7 hedefleyebilir.\n\nAncak bask\u0131n e\u011filim, y\u00fcksek faiz nedeniyle a\u015fa\u011f\u0131 y\u00f6nde. Bu y\u00fczden koruyucu put (sat\u0131m opsiyonu alarak d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 zarar s\u0131n\u0131rlama) veya bear put spread (d\u00fc\u015f\u00fc\u015f beklentisiyle iki sat\u0131m opsiyonu kullanarak maliyeti d\u00fc\u015f\u00fcren strateji) daha mant\u0131kl\u0131 g\u00f6r\u00fcn\u00fcyor. Opsiyon verileri \u201cskew\u201d\u00fcn (put opsiyonlar\u0131n\u0131n call opsiyonlar\u0131na g\u00f6re daha pahal\u0131 olmas\u0131; d\u00fc\u015f\u00fc\u015f riskine daha fazla prim \u00f6denmesi) artt\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu, piyasada daha fazla d\u00fc\u015f\u00fc\u015f beklentisi ya da d\u00fc\u015f\u00fc\u015fe kar\u015f\u0131 g\u00fc\u00e7l\u00fc korunma talebi oldu\u011funa i\u015faret ediyor. 5.000 dolar gibi psikolojik e\u015fik (piyasan\u0131n \u00f6nem verdi\u011fi yuvarlak seviye) alt\u0131na sarkma, 2024 sonundan beri g\u00f6r\u00fclmeyen destek seviyelerine do\u011fru ek sat\u0131\u015f getirebilir.\n\nYine de merkez bankas\u0131 al\u0131mlar\u0131n\u0131n g\u00fc\u00e7l\u00fc bir taban olu\u015fturdu\u011funu not etmek gerekir. D\u00fcnya Alt\u0131n Konseyi verileri, merkez bankalar\u0131n\u0131n 2023\u2019te net 800 ton alt\u0131n ald\u0131\u011f\u0131n\u0131; bu e\u011filimin 2025 boyunca s\u00fcrd\u00fc\u011f\u00fcn\u00fc g\u00f6sterdi ve fiyatlar i\u00e7in destek sa\u011flad\u0131. Bu nedenle yat\u0131r\u0131mc\u0131lar, daha d\u00fc\u015f\u00fck kullan\u0131m fiyatlar\u0131ndan nakit teminatl\u0131 put satmay\u0131 (cash-secured put: olas\u0131 al\u0131m i\u00e7in nakit ay\u0131rarak put sat\u0131p prim toplama) d\u00fc\u015f\u00fcnebilir; sert ve beklenmedik bir d\u00fc\u015f\u00fc\u015f olursa alt\u0131n\u0131 daha d\u00fc\u015f\u00fck fiyattan alma iste\u011fiyle prim geliri hedeflenir.\n

\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n – Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

Alt\u0131nda kritik viraj: 5.000 dolar \u00e7evresinde geri \u00e7ekilme s\u00fcr\u00fcyor. Petrol 100+ ile enflasyon kayg\u0131s\u0131 art\u0131r\u0131rken Fed\u2019in indirimi ertelemesi bekleniyor; y\u00fcksek faiz alt\u0131n\u0131 bask\u0131l\u0131yor, opsiyon volatilitesi y\u00fckseliyor.<\/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-30481","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\/30481","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=30481"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30481\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}