Alt\u0131n, ABD Merkez Bankas\u0131\u2019n\u0131n (Fed) politikay\u0131 de\u011fi\u015ftirmeden b\u0131rak\u0131rken bu y\u0131l\u0131n ilerleyen d\u00f6nemlerinde daha y\u00fcksek bor\u00e7lanma maliyetlerine i\u015faret etmesinin ard\u0131ndan Asya\u2019da erken i\u015flemlerde yakla\u015f\u0131k 4.280 dolara geriledi. Federal A\u00e7\u0131k Piyasa Komitesi (FOMC), Kevin Warsh ba\u015fkanl\u0131\u011f\u0131ndaki ilk toplant\u0131s\u0131nda federal fon oran\u0131n\u0131 %3,5-%3,75 aral\u0131\u011f\u0131nda tutma karar\u0131 i\u00e7in oybirli\u011fi ile karar ald\u0131. Piyasalar daha sonra politika patikas\u0131n\u0131 yeniden fiyatlad\u0131: CME FedWatch Tool Aral\u0131k ay\u0131nda faiz art\u0131\u015f\u0131 olas\u0131l\u0131\u011f\u0131n\u0131 karar \u00f6ncesindeki %61\u2019den %83,1\u2019e y\u00fckseltti. Oranlar\u0131n y\u00fcksek kalmas\u0131n\u0131n beklendi\u011fi d\u00f6nemlerde bu t\u00fcr bir kayma, getiri sa\u011flamayan de\u011ferli metal \u00fczerinde bask\u0131 olu\u015fturma e\u011filiminde.<\/p>\n
Jeopolitik geli\u015fmeler de g\u00fcndemdeydi. \u0130ran ve ABD\u2019nin, sava\u015f\u0131 sona erdirmek \u00fczere Cenevre\u2019de Cuma g\u00fcn\u00fc bir mutabakat zapt\u0131 (MOU) imzalamas\u0131n\u0131n beklendi\u011fi belirtildi. MOU kapsam\u0131nda Tahran, 60 g\u00fcn boyunca ticari gemilerin ge\u00e7i\u015fine \u00fccret almadan izin verecek; bunun ard\u0131ndan \u0130ran\u2019\u0131n, di\u011fer K\u00f6rfez \u00fclkeleriyle birlikte H\u00fcrm\u00fcz\u2019de gelecekteki y\u00f6netim ve denizcilik hizmetlerine ili\u015fkin Umman ile g\u00f6r\u00fc\u015fmeler ba\u015flatmas\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. \u00d6te yandan, resmi sekt\u00f6r talebi \u00f6nemli bir yap\u0131sal unsur olmay\u0131 s\u00fcrd\u00fcr\u00fcyor: D\u00fcnya Alt\u0131n Konseyi\u2019ne g\u00f6re merkez bankalar\u0131 2022\u2019de yakla\u015f\u0131k 70 milyar dolar de\u011ferinde 1.136 ton alt\u0131n ekledi; bu, kay\u0131tlardaki en g\u00fc\u00e7l\u00fc y\u0131ll\u0131k al\u0131m oldu.<\/p>\n
Fed\u2019in faizleri sabit tutup ileride art\u0131\u015f sinyali vermesinin ard\u0131ndan alt\u0131n \u00fczerinde belirgin bir bask\u0131 g\u00f6r\u00fcyoruz. Yakla\u015f\u0131k 4.280 dolara gerileme, piyasan\u0131n yeni liderlik alt\u0131nda daha \u015fahin bir Fed\u2019i fiyatlamas\u0131n\u0131 yans\u0131t\u0131yor. Aral\u0131k ay\u0131nda faiz art\u0131\u015f\u0131 olas\u0131l\u0131\u011f\u0131n\u0131n art\u0131k %83,1\u2019e \u00e7\u0131kmas\u0131yla, k\u0131sa vadede alt\u0131n i\u00e7in en d\u00fc\u015f\u00fck diren\u00e7 y\u00f6n\u00fcn\u00fcn a\u015fa\u011f\u0131 oldu\u011fu g\u00f6r\u00fcl\u00fcyor.<\/p>\n
Faiz oranlar\u0131 ile alt\u0131n aras\u0131ndaki ili\u015fki \u015fu anda kritik \u00f6nem ta\u015f\u0131yor. Daha y\u00fcksek faizler, getiri sa\u011flamayan alt\u0131n\u0131 elde tutman\u0131n f\u0131rsat maliyetini art\u0131rarak sermayeyi ABD Hazine tahvilleri gibi varl\u0131klara y\u00f6nlendiriyor. 2022 ve 2023\u2019te de benzer bir tablo g\u00f6r\u00fclm\u00fc\u015f; Fed\u2019in agresif faiz art\u0131r\u0131mlar\u0131yla oranlar\u0131 s\u0131f\u0131ra yak\u0131n seviyelerden %5\u2019in \u00fczerine ta\u015f\u0131mas\u0131, y\u00fcksek enflasyona ra\u011fmen alt\u0131n fiyatlar\u0131nda yukar\u0131 y\u00f6n\u00fc s\u0131n\u0131rlam\u0131\u015ft\u0131.<\/p>\n
Yar\u0131n Cenevre\u2019de planlanan \u00f6nemli jeopolitik yumu\u015fama da d\u00fc\u015f\u00fc\u015f e\u011filimine katk\u0131 sa\u011fl\u0131yor. ABD-\u0130ran anla\u015fmas\u0131n\u0131n H\u00fcrm\u00fcz Bo\u011faz\u0131\u2019ndaki gerilimi azaltmas\u0131 bekleniyor; bu durum, alt\u0131n\u0131n \u201cg\u00fcvenli liman\u201d cazibesini do\u011frudan zay\u0131flat\u0131yor. Jeopolitik risk priminin ortadan kalkmas\u0131, anla\u015fman\u0131n resmen imzalanmas\u0131n\u0131n ard\u0131ndan de\u011ferli metalde yeni bir d\u00fc\u015f\u00fc\u015f dalgas\u0131n\u0131 tetikleyebilir.<\/p>\n
T\u00fcrev piyasas\u0131 yat\u0131r\u0131mc\u0131lar\u0131 a\u00e7\u0131s\u0131ndan bu ortam, d\u00fc\u015fen fiyatlardan veya artan volatiliteden fayda sa\u011flayan stratejileri g\u00fcndeme getiriyor. \u00d6n\u00fcm\u00fczdeki haftalarda ilave zay\u0131fl\u0131\u011fa pozisyon almak i\u00e7in alt\u0131n vadeli i\u015flemleri ya da ETF\u2019ler \u00fczerine put opsiyonu al\u0131m\u0131n\u0131n etkili bir y\u00f6ntem olabilece\u011fini d\u00fc\u015f\u00fcn\u00fcyoruz. Bu yakla\u015f\u0131m, hem para politikas\u0131 hem de jeopolitik endi\u015felerin azalmas\u0131n\u0131n s\u00fcr\u00fckleyebilece\u011fi a\u015fa\u011f\u0131 y\u00f6nl\u00fc senaryoda, riskin y\u00f6netilmesine olanak tan\u0131rken potansiyel d\u00fc\u015f\u00fc\u015ften yararlanmay\u0131 sa\u011flar.<\/p>\n
Bununla birlikte, merkez bankalar\u0131ndan gelen g\u00fc\u00e7l\u00fc temel deste\u011fin de alt\u0131n\u0131 \u00e7izmek gerekiyor; zira kurumlar tarih\u00ee \u00f6l\u00e7ekte al\u0131m yap\u0131yor. D\u00fcnya Alt\u0131n Konseyi, merkez bankalar\u0131n\u0131n 2024\u2019\u00fcn ilk \u00e7eyre\u011finde 290 ton daha alt\u0131n ekledi\u011fini ve bunun herhangi bir y\u0131l\u0131n kay\u0131tlardaki en g\u00fc\u00e7l\u00fc ba\u015flang\u0131c\u0131 oldu\u011funu bildirdi. Bu \u0131srarl\u0131 kurumsal talep, fiyatlar i\u00e7in belirgin bir taban olu\u015fturabilir; bu nedenle kilit teknik seviyeler etraf\u0131nda destek i\u015faretleri yak\u0131ndan izlenecek.<\/p>\n","protected":false},"excerpt":{"rendered":"
Alt\u0131nda y\u00f6n a\u015fa\u011f\u0131 m\u0131? Fed faizleri sabit tutsa da art\u0131\u015f sinyaliyle fiyat Asya\u2019da 4.280 dolara indi; Aral\u0131k art\u0131\u015f ihtimali %83,1\u2019e \u00e7\u0131kt\u0131. \u0130ran-ABD yumu\u015famas\u0131 bask\u0131 yaparken merkez bankas\u0131 al\u0131mlar\u0131 taban sa\u011fl\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":47833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49068","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\/49068","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=49068"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media\/47833"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=49068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=49068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=49068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}