Alt\u0131n ve g\u00fcm\u00fc\u015f, artan tahvil faizleri ve g\u00fc\u00e7lenen ABD Dolar\u0131\u2019n\u0131n g\u00fcvenli liman talebini g\u00f6lgede b\u0131rakmas\u0131yla geriledi. G\u00fcm\u00fc\u015f, daha \u00f6nce sanayi metalleri ve yapay zek\u00e2 temal\u0131 risk i\u015ftah\u0131yla (yat\u0131r\u0131mc\u0131lar\u0131n risk alma e\u011filimi) g\u00f6r\u00fclen y\u00fcksek oynakl\u0131ktaki (beta\u2019s\u0131 y\u00fcksek) y\u00fckseli\u015fin ard\u0131ndan daha zay\u0131f kald\u0131.<\/p>\n
Alt\u0131n yakla\u015f\u0131k %2,5 d\u00fc\u015ferek 4.500 ABD dolar\u0131\/ons seviyesine yakla\u015f\u0131rken, g\u00fcm\u00fc\u015f bir ara %9 gerileyerek 76 ABD dolar\u0131\/onsun alt\u0131n\u0131 g\u00f6rd\u00fc. Alt\u0131n son olarak 4.540 civar\u0131ndayd\u0131.<\/p>\n
Y\u00fckselen petrol fiyatlar\u0131 enflasyon endi\u015felerini art\u0131rd\u0131 ve tahvil faizlerini yukar\u0131 itti. Faiz getirisi olmayan (kupon\/faiz \u00f6demeyen) metaller \u00fczerinde bu durum bask\u0131 yaratt\u0131.<\/p>\n
Alt\u0131n i\u00e7in belirtilen teknik seviyeler \u015f\u00f6yle: 4.452\u2019de destek (Fibonacci geri \u00e7ekilmesi: fiyat\u0131n \u00f6nceki hareketine g\u00f6re olas\u0131 geri d\u00f6n\u00fc\u015f\/duraklama seviyelerini g\u00f6steren \u00f6l\u00e7\u00fcm; burada 2026\u2019daki zirve-dip hareketinin %23,6\u2019s\u0131) ve 4.340\u2019ta destek (200 g\u00fcnl\u00fck hareketli ortalama: son 200 g\u00fcn\u00fcn ortalama fiyat\u0131, trend g\u00f6stergesi). Diren\u00e7 seviyeleri 4.670 (21 g\u00fcnl\u00fck hareketli ortalama ve %38,2 Fibonacci), 4.730 (50 g\u00fcnl\u00fck hareketli ortalama) ve 4.850 (%50 Fibonacci) olarak veriliyor.<\/p>\n
Tahvil faizleri dura\u011fanla\u015fmad\u0131k\u00e7a ya da petrol ve jeopolitik riskler azalmad\u0131k\u00e7a g\u00f6r\u00fcn\u00fcm zay\u0131f kal\u0131yor. H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019n\u0131n yeniden a\u00e7\u0131lmas\u0131na y\u00f6nelik ad\u0131mlar olas\u0131 bir destek unsuru olarak not ediliyor.<\/p>\n
Alt\u0131n ve g\u00fcm\u00fc\u015fteki son bask\u0131n\u0131n ana nedeni y\u00fckselen faizler ve g\u00fc\u00e7l\u00fc dolar. ABD 10 y\u0131ll\u0131k tahvil faizinin ge\u00e7en hafta %4,95 ile son y\u0131llar\u0131n zirvesine \u00e7\u0131kmas\u0131, faiz getirisi olmayan metallerin sermaye \u00e7ekmesini zorla\u015ft\u0131r\u0131yor. Bu tablo, Dolar Endeksi\u2019nin 107,50 \u00fczerinde kalmas\u0131yla daha da a\u011f\u0131rla\u015f\u0131yor; bu seviye metaller i\u00e7in belirgin bir r\u00fczg\u00e2r kar\u015f\u0131t\u0131 (fiyat\u0131 a\u015fa\u011f\u0131 iten etki) yarat\u0131yor.<\/p>\n
Alt\u0131nda a\u015fa\u011f\u0131 y\u00f6nl\u00fc riskler \u00f6ne \u00e7\u0131k\u0131yor; 4.452 destek seviyesi bir sonraki kritik e\u015fik. T\u00fcrev \u00fcr\u00fcn (dayanak varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmeler) kullanan yat\u0131r\u0131mc\u0131lar i\u00e7in bu, fiyat d\u00fc\u015f\u00fc\u015f\u00fcnden fayda sa\u011flayan stratejilere bakmak anlam\u0131na gelir. \u00d6rne\u011fin \u00f6n\u00fcm\u00fczdeki haftalarda vadeli (son kullan\u0131m tarihi olan) 4.500 kullan\u0131m fiyatl\u0131 (strike: opsiyonun i\u015flem g\u00f6rece\u011fi sabit fiyat) sat\u0131m opsiyonu (put: belirli fiyattan satma hakk\u0131) almak, zay\u0131flamaya do\u011frudan pozisyon almak demektir.<\/p>\n
Bu g\u00f6r\u00fcn\u00fcm, 2025\u2019in \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011findeki fiyat hareketine benziyor. O d\u00f6nemde enflasyon kayg\u0131lar\u0131yla tahvil faizlerinde ya\u015fanan s\u0131\u00e7rama, alt\u0131n fiyat\u0131nda h\u0131zl\u0131 bir %7 d\u00fczeltmeye (sert geri \u00e7ekilme) yol a\u00e7m\u0131\u015ft\u0131. Mevcut piyasa, faiz beklentilerine duyarl\u0131l\u0131\u011f\u0131n h\u00e2l\u00e2 \u00e7ok y\u00fcksek oldu\u011funu g\u00f6steriyor.<\/p>\n
Negatif hava, tahvil faizleri istikrara kavu\u015fmad\u0131k\u00e7a veya jeopolitik riskler azalmad\u0131k\u00e7a s\u00fcrebilir. H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019ndaki gerilim nedeniyle WTI ham petrol\u00fcn\u00fcn (ABD tipi ham petrol g\u00f6stergesi) varil ba\u015f\u0131na 95 dolar\u0131n \u00fczerinde kalmas\u0131, enflasyon kayg\u0131lar\u0131n\u0131 canl\u0131 tutuyor ve merkez bankalar\u0131 \u00fczerinde s\u0131k\u0131 duru\u015fu koruma bask\u0131s\u0131 yarat\u0131yor. Bu deniz yolunun g\u00fcvenli\u011fine y\u00f6nelik somut ilerleme, metaller i\u00e7in bir miktar rahatlama sa\u011flayabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alt\u0131n ve g\u00fcm\u00fc\u015fte sert sat\u0131\u015f: Y\u00fckselen tahvil faizleri ve g\u00fc\u00e7lenen dolar, g\u00fcvenli liman\u0131 bast\u0131rd\u0131. Alt\u0131n %2,5 d\u00fc\u015f\u00fcp 4.500\u2019e yakla\u015f\u0131rken; g\u00fcm\u00fc\u015f %9 gerileyip 76\u2019n\u0131n alt\u0131n\u0131 g\u00f6rd\u00fc.<\/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-46876","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\/46876","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=46876"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46876\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}