Alt\u0131n (XAU\/USD), ABD-\u0130ran bar\u0131\u015f m\u00fczakerelerinin \u00e7ok az ilerleme kaydetmesi ve b\u00f6lgesel gerilimlerin s\u00fcrmesiyle Pazartesi g\u00fcn\u00fc Asya erken i\u015flemlerinde yakla\u015f\u0131k 4.535 dolara gerileyerek iki g\u00fcnl\u00fck y\u00fckseli\u015fini sonland\u0131rd\u0131. \u0130ranl\u0131 yetkililer Pazar g\u00fcn\u00fc Reuters\u2019a, Washington\u2019la g\u00f6r\u00fc\u015fmelerin s\u00fcrd\u00fc\u011f\u00fcn\u00fc ancak n\u00fckleer konuda herhangi bir taahh\u00fctte bulunulmad\u0131\u011f\u0131n\u0131 s\u00f6yledi; \u0130ran Meclis Ba\u015fkan\u0131 ve ba\u015f m\u00fczakereci Mohammad Bagher Ghalibaf, Tahran\u2019\u0131n \u201c\u0130ran halk\u0131n\u0131n haklar\u0131n\u0131\u201d g\u00fcvence alt\u0131na almad\u0131k\u00e7a bir anla\u015fmay\u0131 kabul etmeyece\u011fini belirtti. Diplomasi s\u00fcrerken \u0130srail, L\u00fcbnan\u2019daki kara operasyonunu geni\u015fleterek kuzey kom\u015fusuyla k\u0131r\u0131lgan ate\u015fkesi bozdu.<\/p>\n
Cuma g\u00fcn\u00fc, Fed yetkilileri Orta Do\u011fu sava\u015f\u0131n\u0131n zaten y\u00fcksek seyreden enflasyonu kal\u0131c\u0131 hale getirmesi durumunda faizlerin art\u0131r\u0131lmas\u0131n\u0131n gerekebilece\u011fine i\u015faret etti; bu zemin, getirisi olmayan k\u00fcl\u00e7e alt\u0131n \u00fczerinde bask\u0131 yaratabilir. Piyasalar ayr\u0131ca, b\u00fcy\u00fcmenin gelecek y\u0131la kadar ek s\u0131k\u0131la\u015ft\u0131rmay\u0131 destekleyip destekleyemeyece\u011fine dair ipu\u00e7lar\u0131 i\u00e7in Cuma g\u00fcn\u00fc a\u00e7\u0131klanacak ABD May\u0131s istihdam raporuna odakland\u0131. Merkez bankalar\u0131 alt\u0131n\u0131n en b\u00fcy\u00fck sahipleri olmaya devam ederken, D\u00fcnya Alt\u0131n Konseyi verileri 2022\u2019de yakla\u015f\u0131k 70 milyar dolar de\u011ferinde 1.136 ton alt\u0131n eklediklerini g\u00f6steriyor; bu, rekor y\u0131ll\u0131k al\u0131m olurken rezerv art\u0131ranlar aras\u0131nda \u00c7in, Hindistan ve T\u00fcrkiye de yer ald\u0131. Alt\u0131n genellikle ABD Dolar\u0131 ve ABD Hazine tahvilleriyle ters y\u00f6nde hareket eder ve riskli varl\u0131klar y\u00fckseldi\u011finde \u00e7o\u011fu zaman zay\u0131flar.<\/p>\n
Alt\u0131n\u0131n son zirvelerinden s\u0131n\u0131rl\u0131 bir geri \u00e7ekilme ya\u015fad\u0131\u011f\u0131n\u0131 ve piyasan\u0131n \u00e7eli\u015fkili sinyalleri tartt\u0131\u011f\u0131 ortamda 4.535 dolar seviyesini test etti\u011fini g\u00f6r\u00fcyoruz. Orta Do\u011fu\u2019daki s\u00fcregelen jeopolitik gerilimler metal i\u00e7in altta yatan bir destek sa\u011fl\u0131yor. Buna kar\u015f\u0131n g\u00fc\u00e7l\u00fc ABD dolar\u0131 ve daha y\u00fcksek faiz olas\u0131l\u0131\u011f\u0131 \u015fu a\u015famada r\u00fczg\u00e2r\u0131 tersine \u00e7eviren unsurlar olarak \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n
Bize g\u00f6re \u015fu anda en kritik fakt\u00f6r Fed\u2019in duru\u015fu. Nisan 2026\u2019ya ili\u015fkin son T\u00fcketici Fiyat Endeksi (T\u00dcFE) verisi, beklentilerin \u00fczerinde y\u00fczde 3,9 ile daha s\u0131cak geldi; bu da Fed\u2019in \u015fahin kalmas\u0131 y\u00f6n\u00fcndeki arg\u00fcman\u0131 g\u00fc\u00e7lendiriyor. Daha y\u00fcksek faiz ihtimali, getiri \u00fcretmeyen bir varl\u0131k olan alt\u0131n\u0131 elde tutmay\u0131 yat\u0131r\u0131mc\u0131lar a\u00e7\u0131s\u0131ndan daha az cazip hale getiriyor.<\/p>\n
Bu Cuma, 5 Haziran 2026\u2019da a\u00e7\u0131klanacak ABD May\u0131s istihdam raporu \u00f6nemli bir kataliz\u00f6r olacak. Konsens\u00fcs beklentisi olan 180 binin belirgin bi\u00e7imde \u00fczerinde g\u00fc\u00e7l\u00fc bir istihdam art\u0131\u015f\u0131, daha y\u00fcksek faizlerin ta\u015f\u0131nabilece\u011fine i\u015faret eden ekonomik dayan\u0131kl\u0131l\u0131k sinyali vererek alt\u0131n fiyatlar\u0131n\u0131 muhtemelen a\u015fa\u011f\u0131 \u00e7ekecektir. Buna kar\u015f\u0131l\u0131k zay\u0131f bir rapor, Fed \u00fczerindeki bask\u0131y\u0131 azaltaca\u011f\u0131 i\u00e7in alt\u0131n fiyatlar\u0131n\u0131 sert \u015fekilde yukar\u0131 ta\u015f\u0131yabilir.<\/p>\n
Bu yakla\u015fan olay riskini dikkate alarak volatilitede belirgin bir art\u0131\u015f bekliyoruz. Bu \u00e7er\u00e7evede, Haziran sonlar\u0131nda vadesi dolan \u201clong strangle\u201d stratejisine bak\u0131yoruz; kullan\u0131m fiyat\u0131 paran\u0131n d\u0131\u015f\u0131nda olan hem al\u0131m (call) hem sat\u0131m (put) opsiyonlar\u0131n\u0131 sat\u0131n al\u0131yoruz. Bu strateji, istihdam verisi sonras\u0131nda fiyat\u0131n hangi y\u00f6ne olursa olsun sert bir hareketinden faydalanmay\u0131 ve riskimizi s\u0131n\u0131rlamay\u0131 ama\u00e7l\u0131yor.<\/p>\n
Merkez bankalar\u0131ndan gelen g\u00fc\u00e7l\u00fc temel talebin fiyat i\u00e7in bir taban i\u015flevi g\u00f6rd\u00fc\u011f\u00fcn\u00fc unutmamak gerekiyor. D\u00fcnya Alt\u0131n Konseyi, merkez bankalar\u0131n\u0131n 2026\u2019n\u0131n ilk \u00e7eyre\u011finde rezervlerine 250 ton daha ekledi\u011fini do\u011frulad\u0131. Bu istikrarl\u0131 al\u0131m i\u015ftah\u0131, fiyattaki belirgin geri \u00e7ekilmelerin b\u00fcy\u00fck kurumlar taraf\u0131ndan muhtemelen al\u0131m f\u0131rsat\u0131 olarak g\u00f6r\u00fclece\u011fine i\u015faret ediyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alt\u0131nda y\u00f6n aray\u0131\u015f\u0131: XAU\/USD Orta Do\u011fu gerilimine ra\u011fmen 4.535 dolara \u00e7ekildi. Fed\u2019in \u015fahinli\u011fi ve Cuma ABD istihdam verisi volatiliteyi art\u0131rabilir; merkez bankas\u0131 al\u0131mlar\u0131 d\u00fc\u015f\u00fc\u015flere taban olu\u015fturuyor.<\/p>\n","protected":false},"author":87,"featured_media":47795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-47796","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/47796","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=47796"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/47796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47795"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=47796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=47796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=47796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}