G\u00fcm\u00fc\u015f Per\u015fembe g\u00fcn\u00fc %3,20 d\u00fc\u015ft\u00fc; XAG\/USD (g\u00fcm\u00fc\u015f\/ABD dolar\u0131 paritesi) 84,70 dolar civar\u0131nda i\u015flem g\u00f6rd\u00fc. D\u00fc\u015f\u00fc\u015f, son y\u00fckseli\u015fin ard\u0131ndan, yat\u0131r\u0131mc\u0131lar\u0131n ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) politika rotas\u0131n\u0131 yeniden de\u011ferlendirmesi s\u0131ras\u0131nda k\u00e2r sat\u0131\u015f\u0131 (kazan\u0131m\u0131 realize etmek i\u00e7in sat\u0131\u015f) yapmas\u0131yla geldi.<\/p>\n
ABD Hazine tahvili getirilerinin (tahvil faizi) y\u00fckselmesi ve ABD dolar\u0131n\u0131n g\u00fc\u00e7lenmesi, faiz getirisi olmayan (kupon\/faiz \u00f6demesi bulunmayan) metallerde talebi azaltt\u0131. Piyasalar ayr\u0131ca Fed\u2019den gelen \u015fahin (faizleri y\u00fcksek tutmaya yatk\u0131n) mesajlar\u0131 ve \u201cfaizlerin daha uzun s\u00fcre y\u00fcksek kalaca\u011f\u0131\u201d beklentisini fiyatlad\u0131.<\/p>\n
ABD enflasyon verileri, fiyat bask\u0131lar\u0131n\u0131n kal\u0131c\u0131 oldu\u011funa i\u015faret etmeyi s\u00fcrd\u00fcr\u00fcrken, i\u015fg\u00fcc\u00fc piyasas\u0131 ko\u015fullar\u0131 g\u00f6rece istikrarl\u0131 kald\u0131. Bu da yak\u0131n vadede parasal gev\u015feme (faiz indirimi ve finansal ko\u015fullar\u0131 rahatlatma) ihtimalini zay\u0131flatt\u0131.<\/p>\n
Kansas City Fed Ba\u015fkan\u0131 Jeffrey Schmid, s\u00fcregelen enflasyonun ekonomi i\u00e7in en \u00f6nemli risk olmaya devam etti\u011fini s\u00f6yledi. Schmid ayr\u0131ca y\u00fcksek petrol fiyatlar\u0131n\u0131n hanehalk\u0131 harcamalar\u0131n\u0131 ve \u015firketlerin maliyetlerini art\u0131rd\u0131\u011f\u0131n\u0131 belirtti.<\/p>\n
G\u00fcm\u00fc\u015f \u00e7o\u011fu zaman \u201cde\u011fer saklama arac\u0131\u201d (al\u0131m g\u00fcc\u00fcn\u00fc korumak i\u00e7in tutulan varl\u0131k) olarak g\u00f6r\u00fcl\u00fcr; madeni para ve k\u00fcl\u00e7e olarak ya da fiyat\u0131 takip eden borsa yat\u0131r\u0131m fonlar\u0131 (ETF: borsada hisse gibi al\u0131n\u0131p sat\u0131lan fon) \u00fczerinden al\u0131nabilir. G\u00fcm\u00fc\u015f fiyat\u0131; ABD dolar\u0131ndaki hareketlerden, faiz oranlar\u0131ndan, jeopolitik riskten, madencilik arz\u0131ndan ve geri d\u00f6n\u00fc\u015f\u00fcmden etkilenebilir.<\/p>\n
Elektronik ve g\u00fcne\u015f enerjisi gibi sekt\u00f6rlerden gelen sanayi talebi de fiyatlar\u0131 oynatabilir; ABD, \u00c7in ve Hindistan\u2019daki ko\u015fullar belirleyici olabilir. G\u00fcm\u00fc\u015f \u00e7o\u011fu zaman alt\u0131n\u0131 takip eder; alt\u0131n\/g\u00fcm\u00fc\u015f oran\u0131 ise iki metalin g\u00f6reli de\u011ferlemesini k\u0131yaslamak i\u00e7in kullan\u0131lan g\u00f6stergedir.<\/p>\n
ABD 10 y\u0131ll\u0131k tahvil faizinin %4,75\u2019in \u00fczerine \u00e7\u0131kmas\u0131yla, g\u00fcm\u00fc\u015f gibi faiz getirisi olmayan varl\u0131klar elde tutmak daha az cazip hale geliyor. Fed, \u00f6zellikle ge\u00e7en haftaki T\u00fcketici Fiyat Endeksi (T\u00dcFE: t\u00fcketicinin \u00f6dedi\u011fi fiyatlardaki art\u0131\u015f\u0131 \u00f6l\u00e7en enflasyon verisi) %3,8 ile g\u00fc\u00e7l\u00fc gelmesinin ard\u0131ndan, faizleri daha uzun s\u00fcre y\u00fcksek tutaca\u011f\u0131 sinyalini veriyor. Bu \u015fahin duru\u015f g\u00fcm\u00fc\u015f fiyat\u0131 \u00fczerinde do\u011frudan bask\u0131 kuruyor.<\/p>\n
Bu a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareketle birlikte, d\u00fc\u015f\u00fc\u015fe oynayan t\u00fcrev i\u015flemler (fiyat hareketinden kald\u0131ra\u00e7la faydalanmaya yarayan s\u00f6zle\u015fmeler) \u00f6ne \u00e7\u0131k\u0131yor: sat\u0131m opsiyonu (put: fiyattaki d\u00fc\u015f\u00fc\u015ften kazan\u00e7 hedefleyen opsiyon) almak veya vadeli i\u015flemlerde (futures: gelecekte belirli fiyattan al\u0131m-sat\u0131m s\u00f6zle\u015fmesi) k\u0131sa pozisyon (d\u00fc\u015f\u00fc\u015f beklentisiyle sat\u0131\u015f y\u00f6nl\u00fc pozisyon) kurmak gibi. G\u00fcm\u00fc\u015f\u00fcn 88 dolara yakla\u015ft\u0131\u011f\u0131 son ralli (h\u0131zl\u0131 y\u00fckseli\u015f) art\u0131k a\u015f\u0131r\u0131ya ka\u00e7m\u0131\u015f g\u00f6r\u00fcn\u00fcyor; 84 dolar seviyesine geri \u00e7ekilme, yat\u0131r\u0131mc\u0131lar\u0131n k\u00e2r\u0131n\u0131 toplamas\u0131yla daha makul hale geldi. \u00d6n\u00fcm\u00fczdeki haftalarda 82,50 dolar civar\u0131ndaki \u00f6nemli destek seviyesinin (d\u00fc\u015f\u00fc\u015fte al\u0131c\u0131lar\u0131n g\u00fc\u00e7lendi\u011fi seviye) test edilip edilmeyece\u011fini izleyece\u011fiz.<\/p>\n
ABD Dolar Endeksi\u2019nin (DXY: dolar\u0131n ba\u015fl\u0131ca para birimleri kar\u015f\u0131s\u0131ndaki g\u00fcc\u00fcn\u00fc \u00f6l\u00e7en g\u00f6sterge) 106\u2019n\u0131n \u00fczerinde g\u00fc\u00e7l\u00fc kalmas\u0131 da bask\u0131y\u0131 art\u0131r\u0131yor; g\u00fc\u00e7l\u00fc dolar, di\u011fer para birimlerini kullanan al\u0131c\u0131lar i\u00e7in g\u00fcm\u00fc\u015f\u00fc daha pahal\u0131 hale getiriyor. 2025 boyunca beklenen g\u00fcvercin d\u00f6n\u00fc\u015f\u00fcn (faiz indirimine yatk\u0131n politika de\u011fi\u015fimi) aksine, inat\u00e7\u0131 enflasyon ger\u00e7e\u011fi de\u011ferli metallerde yeniden fiyatlamay\u0131 (beklentilere g\u00f6re fiyatlar\u0131n yeniden ayarlanmas\u0131) zorluyor. Bu tablo, k\u0131sa vadede dolar g\u00fcc\u00fcn\u00fcn s\u00fcrmesinden yararlanan stratejileri \u00f6ne \u00e7\u0131kar\u0131yor.<\/p>\n
Alt\u0131n\/g\u00fcm\u00fc\u015f oran\u0131n\u0131 da yak\u0131ndan izliyoruz; oran yeniden 85:1\u2019e y\u00fckseldi. Oran\u0131n a\u00e7\u0131lmas\u0131, g\u00fcm\u00fc\u015f\u00fcn alt\u0131na g\u00f6re daha zay\u0131f kald\u0131\u011f\u0131n\u0131 g\u00f6steriyor; bu da genellikle riskten ka\u00e7\u0131\u015f (yat\u0131r\u0131mc\u0131n\u0131n daha g\u00fcvenli varl\u0131klara y\u00f6nelmesi) d\u00f6nemlerinde alt\u0131n\u0131n tercih edilmesine i\u015faret eder. Oranda bir geri d\u00f6n\u00fc\u015f, g\u00fcm\u00fc\u015fteki sat\u0131\u015f bask\u0131s\u0131n\u0131n zay\u0131flad\u0131\u011f\u0131na dair erken sinyal olabilir; ancak \u015fimdilik bu i\u015fareti g\u00f6rm\u00fcyoruz.<\/p>\n","protected":false},"excerpt":{"rendered":"
G\u00fcm\u00fc\u015fte sert frene dikkat: XAG\/USD %3,2 d\u00fc\u015ferek 84,70\u2019e indi. Y\u00fckselen tahvil faizleri ve g\u00fc\u00e7l\u00fc dolar, Fed\u2019in \u015fahin mesajlar\u0131yla birle\u015fince k\u00e2r sat\u0131\u015f\u0131 h\u0131zland\u0131; 82,50 destek izleniyor.<\/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-46697","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\/46697","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=46697"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46697\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}