Hindistan, devam eden \u0130ran \u00e7at\u0131\u015fmas\u0131 s\u0131ras\u0131nda rupiyi desteklemek ve d\u00f6viz rezervleri (merkez bankas\u0131n\u0131n elindeki yabanc\u0131 para stoklar\u0131) \u00fczerindeki bask\u0131y\u0131 azaltmak i\u00e7in alt\u0131n ve g\u00fcm\u00fc\u015f ithalat vergilerini art\u0131rd\u0131.<\/p>\n
Alt\u0131n ve g\u00fcm\u00fc\u015fte ithalat vergisi %6\u2019dan %15\u2019e y\u00fckseltilerek \u00f6nceki oran iki kattan fazla art\u0131r\u0131ld\u0131.<\/p>\n
Hindistan, d\u00fcnyan\u0131n en b\u00fcy\u00fck ikinci alt\u0131n t\u00fcketicisi ve alt\u0131n ihtiyac\u0131n\u0131n b\u00fcy\u00fck b\u00f6l\u00fcm\u00fcn\u00fc ithalatla kar\u015f\u0131l\u0131yor. Alt\u0131n ve g\u00fcm\u00fc\u015f, Hindistan\u2019\u0131n toplam ithalat\u0131n\u0131n yakla\u015f\u0131k %11\u2019ini olu\u015fturuyor.<\/p>\n
Daha y\u00fcksek vergilerin, Hindistan\u2019da k\u0131sa vadede fiziki alt\u0131n talebini (kuyumculuk\/teslimat ama\u00e7l\u0131 ger\u00e7ek metal al\u0131m\u0131) azaltmas\u0131 ve ithalat giri\u015fini d\u00fc\u015f\u00fcrmesi bekleniyor.<\/p>\n
2025\u2019te Hindistan, \u0130ran \u00e7at\u0131\u015fmas\u0131 s\u0131ras\u0131nda para birimini korumak i\u00e7in alt\u0131n ithalat vergisini %6\u2019dan %15\u2019e sert bi\u00e7imde y\u00fckseltmi\u015fti. Ama\u00e7, d\u00f6viz rezervlerini zorlayan ithalat\u0131 k\u0131smakt\u0131. \u0130lk beklenti, d\u00fcnyan\u0131n en b\u00fcy\u00fck ikinci t\u00fcketicisinden gelen fiziki talep i\u00e7in belirgin bir olumsuz etkiydi.<\/p>\n
Beklendi\u011fi gibi, 2025\u2019in ikinci yar\u0131s\u0131na ait resmi ithalat verileri yakla\u015f\u0131k %20 d\u00fc\u015f\u00fc\u015fe i\u015faret etti; bu da yerel alt\u0131n fiyatlar\u0131nda belirgin bir prim (i\u00e7 piyasada d\u00fcnya fiyat\u0131n\u0131n \u00fczerinde olu\u015fan fark) yaratt\u0131. Ancak Hindistan\u2019daki talep d\u00fc\u015f\u00fc\u015f\u00fc, k\u00fcresel \u00f6l\u00e7ekte g\u00fcvenli liman al\u0131mlar\u0131yla (risk d\u00f6nemlerinde yat\u0131r\u0131mc\u0131lar\u0131n alt\u0131n gibi varl\u0131klara y\u00f6nelmesi) b\u00fcy\u00fck \u00f6l\u00e7\u00fcde dengelendi. Alt\u0131n fiyatlar\u0131 2025\u2019in b\u00fcy\u00fck b\u00f6l\u00fcm\u00fcnde y\u00fckseldi ve y\u0131l sonunda ons ba\u015f\u0131na 2.400 dolar\u0131n belirgin \u015fekilde \u00fczerine \u00e7\u0131kt\u0131.<\/p>\n
Daha sonra g\u00f6r\u00fcn\u00fcm de\u011fi\u015fti; jeopolitik gerilimin azalmas\u0131yla ithalat vergisi Mart 2026\u2019da k\u0131smen geri \u00e7ekilerek %8\u2019e indirildi. Talepte normalle\u015fmenin etkileri g\u00f6r\u00fclmeye ba\u015flad\u0131. Bu ay\u0131n ba\u015f\u0131ndaki Akshaya Tritiya festivali (Hindistan\u2019da alt\u0131n al\u0131mlar\u0131n\u0131n artt\u0131\u011f\u0131 \u00f6nemli geleneksel d\u00f6nem) sonras\u0131 ilk haberler, t\u00fcketici al\u0131mlar\u0131nda g\u00fc\u00e7l\u00fc bir toparlanmaya i\u015faret ediyor.<\/p>\n
T\u00fcrev piyasalarda i\u015flem yapanlar i\u00e7in (vadeli i\u015flem ve opsiyon gibi s\u00f6zle\u015fmelerle al\u0131m-sat\u0131m yapan yat\u0131r\u0131mc\u0131lar), Hindistan talebinin geri d\u00f6nmesi ge\u00e7en y\u0131l\u0131n b\u00fcy\u00fck k\u0131sm\u0131nda fiyat\u0131 a\u015fa\u011f\u0131 \u00e7eken \u00f6nemli bir etkenin ortadan kalkmas\u0131 anlam\u0131na geliyor. Yeniden artan fiziki al\u0131m, 2.450 dolar seviyesinde yatay seyreden fiyatlar i\u00e7in daha sa\u011flam bir taban olu\u015fturuyor. Bu nedenle olas\u0131 geri \u00e7ekilmelerde, bu kilit pazardan daha g\u00fc\u00e7l\u00fc fiziki al\u0131mlar\u0131n gelmesi beklenebilir.<\/p>\n
Bu t\u00fcketici kaynakl\u0131 destek, merkez bankalar\u0131n\u0131n (resmi kurum al\u0131mlar\u0131) s\u00fcrd\u00fcrd\u00fc\u011f\u00fc g\u00fc\u00e7l\u00fc al\u0131mlarla birlikte g\u00f6r\u00fcl\u00fcyor; merkez bankalar\u0131 2026\u2019n\u0131n ilk \u00e7eyre\u011finde k\u00fcresel olarak 200 tonun \u00fczerinde alt\u0131n ekledi. Bu y\u00fczden yat\u0131r\u0131mc\u0131lar\u0131n b\u00fcy\u00fck \u00f6l\u00e7ekli \u201ck\u0131sa\u201d pozisyonlar (fiyat d\u00fc\u015f\u00fc\u015f\u00fcne oynayan sat\u0131\u015f y\u00f6nl\u00fc i\u015flem) almada temkinli olmas\u0131 gerekiyor. Perakende talepte toparlanma ile resmi al\u0131mlar\u0131n s\u00fcrmesi birlikte de\u011ferlendirildi\u011finde, fiyatlarda yukar\u0131 y\u00f6n daha olas\u0131 g\u00f6r\u00fcn\u00fcyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alt\u0131nda kritik hamle: Hindistan, rupiyi korumak i\u00e7in ithalat vergisini %6\u2019dan %15\u2019e s\u0131\u00e7ratt\u0131; ithalat %20 d\u00fc\u015ft\u00fc. 2026\u2019da vergi %8\u2019e indi, talep toparland\u0131; fiyatlarda taban g\u00fc\u00e7leniyor.<\/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-46658","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\/46658","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=46658"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46658\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}