\u0130ran sava\u015f\u0131 ba\u015flad\u0131\u011f\u0131ndan beri petrol fiyatlar\u0131, enflasyon ve faiz beklentileri \u00fczerinden alt\u0131n\u0131 etkileyen ana unsurlardan biri oldu. Alt\u0131n, troy ons ba\u015f\u0131na 4.600 ABD dolar\u0131 civar\u0131nda dengelendi, ard\u0131ndan g\u00fc\u00e7l\u00fc ABD verileri ve y\u00fckselen petrol\u00fcn etkisiyle 4.550 ABD dolar\u0131n\u0131n alt\u0131na geriledi.<\/p>\n
Son yedi i\u015flem g\u00fcn\u00fcnde alt\u0131n, y\u00fckselen petrol fiyatlar\u0131n\u0131n tersine hareket etti. Enflasyon riskinin artmas\u0131, daha s\u0131k\u0131 para politikas\u0131 (merkez bankas\u0131n\u0131n faizi art\u0131rmas\u0131 veya s\u0131k\u0131 tutmas\u0131) ihtimalini y\u00fckseltti. Bu durum, getirisi olmayan alt\u0131n tutman\u0131n maliyetini art\u0131rd\u0131 ve fiyatlar \u00fczerinde a\u015fa\u011f\u0131 y\u00f6nl\u00fc bask\u0131 yaratt\u0131.<\/p>\n
G\u00fc\u00e7l\u00fc ABD sipari\u015fleri ve artan petrol fiyatlar\u0131n\u0131n faiz endi\u015felerini art\u0131rmas\u0131n\u0131n ard\u0131ndan alt\u0131n, troy ons ba\u015f\u0131na 4.500 ABD dolar\u0131n\u0131n biraz \u00fczerinde kapand\u0131. Bu, bir ay\u0131n en d\u00fc\u015f\u00fck seviyesi oldu.<\/p>\n
D\u00fcnya Alt\u0131n Konseyi verilerine g\u00f6re \u00c7in\u2019in ilk \u00e7eyrekte k\u00fcl\u00e7e ve sikke talebi ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla yakla\u015f\u0131k %67 art\u0131\u015f g\u00f6sterdi. Bu talep, k\u00fcresel k\u00fcl\u00e7e ve sikke talebinin %45\u2019ine yakla\u015ft\u0131.<\/p>\n
\u00c7in, hazirandan itibaren alt\u0131n ithalat kurallar\u0131n\u0131 gev\u015fetmeyi planl\u0131yor. Merkez bankas\u0131n\u0131n taslak \u00f6nerisi, \u201c\u00e7ok ama\u00e7l\u0131 izinleri\u201d (ayn\u0131 ithalat izninin birden fazla i\u015flemde kullan\u0131labilmesi) geni\u015fletecek, ge\u00e7erlilik s\u00fcresini alt\u0131 aydan dokuz aya \u00e7\u0131karacak ve izinlerin ka\u00e7 kez kullan\u0131labilece\u011fine dair s\u0131n\u0131rlar\u0131 kald\u0131racak.<\/p>\n
Ayr\u0131ca daha fazla \u00c7in liman\u0131n\u0131n k\u00fcl\u00e7e alt\u0131n i\u015flemlerini (bullion: y\u00fcksek safl\u0131kta k\u00fcl\u00e7e alt\u0131n) g\u00fcmr\u00fckten ge\u00e7irebilmesine izin verilecek.<\/p>\n
Petrol ile alt\u0131n aras\u0131ndaki ters y\u00f6nl\u00fc ili\u015fkinin, ge\u00e7en y\u0131l \u0130ran sava\u015f\u0131 s\u0131ras\u0131nda belirginle\u015fti\u011fi gibi, piyasay\u0131 etkilemeyi s\u00fcrd\u00fcrd\u00fc\u011f\u00fc g\u00f6r\u00fcl\u00fcyor. WTI ham petrol\u00fc (ABD referans petrol t\u00fcr\u00fc) varil ba\u015f\u0131na 95 dolar civar\u0131nda g\u00fc\u00e7l\u00fc seyrederken, enflasyon endi\u015feleri ve \u015fahin (faizi y\u00fcksek tutma e\u011filiminde) Fed alt\u0131n\u0131n y\u00fckseli\u015fini s\u0131n\u0131rl\u0131yor. Buna kar\u015f\u0131l\u0131k, ABD T\u00dcFE verisinin (CPI: t\u00fcketici fiyat endeksi, enflasyon g\u00f6stergesi) %3,1\u2019e hafif geriledi\u011fini g\u00f6stermesi Fed\u2019e \u201cbekle-g\u00f6r\u201d i\u00e7in alan a\u00e7abilir ve f\u0131rsat yaratabilir.<\/p>\n
Alt\u0131n i\u00e7in pozitif senaryo, \u00c7in\u2019den gelen g\u00fc\u00e7l\u00fc fiziki talebe dayan\u0131yor. Bu e\u011filim, ithalat kurallar\u0131 Haziran 2025\u2019te gev\u015fetildikten sonra h\u0131zland\u0131. \u00c7in Merkez Bankas\u0131 (PBoC) al\u0131mlar\u0131n\u0131 s\u00fcrd\u00fcrerek Nisan 2026\u2019da 15 ton daha ekledi ve \u00fcst \u00fcste 18\u2019inci ay al\u0131m yapt\u0131. Bu d\u00fczenli al\u0131m, \u00f6zellikle faiz endi\u015feleri nedeniyle ya\u015fanabilecek geri \u00e7ekilmelerde fiyatlar i\u00e7in g\u00fc\u00e7l\u00fc bir taban olu\u015fturuyor.<\/p>\n
Bu iki z\u0131t etken nedeniyle yat\u0131r\u0131mc\u0131lar, \u00f6n\u00fcm\u00fczdeki haftalarda fiyat\u0131n yatay kalmas\u0131ndan veya ani bir k\u0131r\u0131lmadan faydalanabilecek stratejileri de\u011ferlendirebilir. \u00d6rne\u011fin 4.750 dolar gibi \u00f6nemli destek seviyelerinin alt\u0131nda \u201cout-of-the-money\u201d put (kullan\u0131m fiyat\u0131 mevcut fiyat\u0131n alt\u0131nda olan sat\u0131\u015f opsiyonu) satmak, \u00c7in talebine g\u00fcvenerek prim (opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 \u00fccret) toplama y\u00f6ntemi olabilir. Alternatif olarak opsiyonlarla \u201cuzun volatilite\u201d (fiyat\u0131n sert hareket etmesinden kazan\u00e7 hedefleyen pozisyon) kurulmas\u0131, yakla\u015fan verilerin piyasay\u0131 mevcut dengeden keskin bi\u00e7imde uzakla\u015ft\u0131rmas\u0131 halinde getiriyi art\u0131rabilir.<\/p>\n
Canl\u0131 VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturun<\/a>\u00a0ve\u00a0hemen i\u015flem yapmaya ba\u015flay\u0131n<\/a>. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Petrol 95 dolara yak\u0131n seyrederken enflasyon-faiz bask\u0131s\u0131 alt\u0131n\u0131 4.600\u2019den 4.500 band\u0131na \u00e7ekti. Ancak \u00c7in talebi ve ithalat gev\u015femesi taban olu\u015fturuyor; opsiyon stratejileri \u00f6ne \u00e7\u0131k\u0131yor.<\/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-46202","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\/46202","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=46202"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46202\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}