WPIC, bu y\u0131l platin arz\u0131nda 297 bin ons a\u00e7\u0131k (arz\u0131n talebi kar\u015f\u0131layamamas\u0131) \u00f6ng\u00f6r\u00fcyor. Bu, \u00fcst \u00fcste d\u00f6rd\u00fcnc\u00fc y\u0131l a\u00e7\u0131k anlam\u0131na geliyor. Piyasada dola\u015fan stoklar\u0131n (yer \u00fcst\u00fc stoklar: maden d\u0131\u015f\u0131ndaki depolarda, rafinerilerde ve yat\u0131r\u0131m \u00fcr\u00fcnlerinde tutulan metal) 1,747 milyon onsa gerilemesi bekleniyor; stok\/kullan\u0131m oran\u0131 (y\u0131ll\u0131k talebe g\u00f6re stoklar\u0131n pay\u0131) %22 seviyesinde.<\/p>\n
Bu seviyede stoklar, 2026\u2019da talebin \u00fc\u00e7 aydan daha az\u0131n\u0131 kar\u015f\u0131layabilecek. Daha \u00f6nceki tahmin, bu y\u0131lki stoklar\u0131 2,613 milyon ons olarak g\u00f6stermi\u015fti.<\/p>\n
WPIC verileri, s\u0131k\u0131\u015f\u0131kl\u0131\u011f\u0131n (piyasada metal bulman\u0131n zorla\u015fmas\u0131) bir miktar azald\u0131\u011f\u0131n\u0131 da g\u00f6steriyor; 1. \u00e7eyrekte 268 bin ons arz fazlas\u0131 (arz\u0131n talebi a\u015fmas\u0131) kaydedildi. Bu, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 658 bin ons a\u00e7\u0131\u011fa k\u0131yasla belirgin bir de\u011fi\u015fim ve son alt\u0131 \u00e7eyrekteki ilk fazla oldu.<\/p>\n
Platin talebinin bu y\u0131l %9 d\u00fc\u015ferek 7,674 milyon onsa gerilemesi bekleniyor; bu, son d\u00f6rt y\u0131l\u0131n en d\u00fc\u015f\u00fck seviyesi. Yat\u0131r\u0131m talebinin (yat\u0131r\u0131m ama\u00e7l\u0131 al\u0131m) yar\u0131dan fazla d\u00fc\u015fece\u011fi \u00f6ng\u00f6r\u00fcl\u00fcyor. Bu beklenti, platin ETF\u2019lerinden (borsada i\u015flem g\u00f6ren fon: hisse gibi al\u0131n\u0131p sat\u0131lan fon) net \u00e7\u0131k\u0131\u015flara ve borsaya kay\u0131tl\u0131 stoklar\u0131n (resmi olarak borsada teslimata uygun g\u00f6r\u00fclen stok) azalmas\u0131na ba\u011flan\u0131yor.<\/p>\n
Commerzbank, platin fiyat\u0131n\u0131n y\u0131l sonuna kadar ons ba\u015f\u0131na 2.300 ABD dolar\u0131na y\u00fckselmesini bekliyor. Bu tahminin ana dayana\u011f\u0131, alt\u0131n fiyat\u0131nda \u00f6ng\u00f6r\u00fclen y\u00fckseli\u015f.<\/p>\n
Piyasada \u00fcst \u00fcste d\u00f6rd\u00fcnc\u00fc y\u0131l net arz a\u00e7\u0131\u011f\u0131 g\u00f6r\u00fclmesi fiyatlar\u0131 destekleyebilir. Yer \u00fcst\u00fc stoklar\u0131n \u00fc\u00e7 aydan az talebi kar\u015f\u0131layacak d\u00fczeye inmesi tarihsel olarak s\u0131k\u0131 bir seviye. Buna kar\u015f\u0131n, y\u0131l\u0131n ilk \u00e7eyre\u011finde s\u00fcrpriz bir arz fazlas\u0131 olu\u015ftu ve toplam talebin d\u00f6rt y\u0131l\u0131n en d\u00fc\u015f\u00fc\u011f\u00fcne inmesi bekleniyor.<\/p>\n
Zay\u0131f talep g\u00f6r\u00fcn\u00fcm\u00fc, \u00f6zellikle yat\u0131r\u0131m taraf\u0131nda, \u00f6n\u00fcm\u00fczdeki haftalarda \u00f6nemli bir bask\u0131 unsuru. 2025\u2019e bak\u0131ld\u0131\u011f\u0131nda yat\u0131r\u0131m talebi \u00f6nemli bir destekti; ancak bu y\u0131l bunun yar\u0131ya inmesi bekleniyor. May\u0131s 2026 verileri, platin destekli ETF\u2019lerden (dayanak varl\u0131\u011f\u0131 fiziksel platin olan fon) \u00e7\u0131k\u0131\u015flar\u0131n s\u00fcrd\u00fc\u011f\u00fcne i\u015faret ediyor. GraniteShares Platinum Trust (PLTM), Nisan\u2019dan bu yana varl\u0131klar\u0131nda 40 bin onstan fazla d\u00fc\u015f\u00fc\u015f g\u00f6rd\u00fc.<\/p>\n
Temeldeki arz a\u00e7\u0131\u011f\u0131 bir \u201ctampon\u201d olu\u015fturuyor: G\u00fcney Afrika\u2019daki b\u00fcy\u00fck bir madende beklenmedik bir kesinti, h\u0131zl\u0131 bir fiyat s\u0131k\u0131\u015fmas\u0131na (arz\u0131n aniden daralmas\u0131yla fiyat\u0131n h\u0131zla y\u00fckselmesi) yol a\u00e7abilir. 2000\u2019lerin sonundaki elektrik arz\u0131 sorunlar\u0131, stoklar bu kadar d\u00fc\u015f\u00fckken platin fiyat\u0131n\u0131n ne kadar h\u0131zl\u0131 tepki verebildi\u011fini g\u00f6steriyor. Bu temel s\u0131k\u0131l\u0131k, mevcut seviyelerden a\u015fa\u011f\u0131 y\u00f6nl\u00fc riskin s\u0131n\u0131rl\u0131 olabilece\u011fine i\u015faret ediyor.<\/p>\n
Sonu\u00e7 olarak platin, tek ba\u015f\u0131na g\u00fc\u00e7l\u00fc bir y\u00fckseli\u015f ba\u015flatmakta zorlan\u0131yor ve muhtemelen alt\u0131n\u0131 takip edecek. Alt\u0131n, birka\u00e7 haftad\u0131r ons ba\u015f\u0131na 2.420 dolar civar\u0131nda dar bir bantta (fiyat\u0131n s\u0131n\u0131rl\u0131 aral\u0131kta hareket etmesi) i\u015flem g\u00f6r\u00fcyor; k\u00fcresel faizlerin y\u00f6n\u00fcne dair daha net sinyal bekleniyor. Alt\u0131n\u0131n 2.500 dolar\u0131n \u00fczerine \u00e7\u0131kmas\u0131, platin fiyat\u0131n\u0131 da b\u00fcy\u00fck olas\u0131l\u0131kla yukar\u0131 \u00e7eker.<\/p>\n
K\u0131sa vadede zay\u0131f talep ile uzun vadede s\u0131k\u0131 arz aras\u0131ndaki bu gerilim nedeniyle, t\u00fcrev piyasada (vadeli i\u015flemler ve opsiyonlar gibi s\u00f6zle\u015fmeler) i\u015flem yapanlar\u0131n riski s\u0131n\u0131rlayan stratejiler d\u00fc\u015f\u00fcnmesi gerekir. Al\u0131m opsiyonu (call: belirli fiyattan alma hakk\u0131) veya al\u0131m opsiyonu spread\u2019i (iki farkl\u0131 kullan\u0131m fiyatl\u0131 al\u0131m opsiyonunun birlikte kullan\u0131lmas\u0131) almak, alt\u0131n y\u00fckselirse yukar\u0131 y\u00f6nl\u00fc kazanca kat\u0131l\u0131m sa\u011flar; talep zay\u0131flarsa zarar \u00f6nceden s\u0131n\u0131rl\u0131d\u0131r. Paran\u0131n d\u0131\u015f\u0131nda (out-of-the-money: mevcut fiyattan daha uzak kullan\u0131m fiyatl\u0131) sat\u0131m opsiyonu (put: belirli fiyattan satma hakk\u0131) satmak da prim (opsiyon sat\u0131c\u0131s\u0131n\u0131n ald\u0131\u011f\u0131 \u00fccret) toplaman\u0131n bir yolu olabilir; ayn\u0131 zamanda fiyat d\u00fc\u015ferse metali daha d\u00fc\u015f\u00fck seviyeden alma hedefi belirlemi\u015f olur.<\/p>\n","protected":false},"excerpt":{"rendered":"
Platin piyasas\u0131 alarm veriyor: WPIC 297 bin ons arz a\u00e7\u0131\u011f\u0131yla d\u00f6rd\u00fcnc\u00fc y\u0131la i\u015faret ediyor. Yer \u00fcst\u00fc stoklar 1,747 milyon onsa gerilerken, \u00fc\u00e7 aydan az talep kar\u015f\u0131layacak. Talep zay\u0131f, ETF \u00e7\u0131k\u0131\u015flar\u0131 s\u00fcr\u00fcyor.<\/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-46998","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\/46998","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=46998"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/46998\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=46998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=46998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=46998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}