\u00c7in\u2019in ard\u0131ndan d\u00fcnyan\u0131n ikinci en b\u00fcy\u00fck alt\u0131n pazar\u0131 olan Hindistan, hazirandaki sert yurti\u00e7i d\u00fczeltmenin ard\u0131ndan temmuzda fiyat istikrar\u0131na ge\u00e7ti ve a\u011fustosun ba\u015f\u0131ndan itibaren toparlanma ya\u015fad\u0131. Rupi baz\u0131nda alt\u0131n, a\u011fustosun ilk iki haftas\u0131nda yakla\u015f\u0131k %7 y\u00fckselirken, uluslararas\u0131 fiyatlar ayn\u0131 d\u00f6nemde yakla\u015f\u0131k %9 artt\u0131; rupi g\u00fc\u00e7lenmesi yerel hareketi s\u0131n\u0131rlad\u0131. Bu zemin \u00fczerinde D\u00fcnya Alt\u0131n Konseyi, toparlanman\u0131n itici g\u00fc\u00e7leri olarak de\u011fi\u015fen para politikas\u0131 beklentilerini, zay\u0131flayan ABD dolar\u0131n\u0131 ve alt\u0131n ETF\u2019lerine yeniden ba\u015flayan giri\u015fleri i\u015faret etti.<\/p>\n
Fiyatlar\u0131n g\u00fc\u00e7lenmesine ra\u011fmen alt\u0131n Hindistan\u2019da iskonto ile i\u015flem g\u00f6rmeye devam etti; bu durum, eski m\u00fccevherin yenisiyle de\u011fi\u015ftirilmesiyle desteklenen bol arz\u0131 i\u015faret ediyor. S\u00f6z konusu iskonto, may\u0131s ortas\u0131 ve haziran ba\u015f\u0131nda ons ba\u015f\u0131na 100 dolara kadar \u00e7\u0131kt\u0131ktan sonra a\u011fustos ortas\u0131nda yakla\u015f\u0131k 45 dolara geriledi. Zay\u0131f ge\u00e7en iki ay\u0131n ard\u0131ndan ithalat temmuzda artt\u0131: hacim, hazirandaki 20 tondan tahmini 40\u201345 tona ikiye katland\u0131. Fon verileri, Hindistan alt\u0131n ETF varl\u0131klar\u0131n\u0131n 1 ton artarak \u20b915,6 milyar (163 milyon dolar) de\u011ferine ula\u015ft\u0131\u011f\u0131n\u0131; toplamlar\u0131n 120 tona ve y\u00f6netilen varl\u0131klar\u0131n (AUM) \u20b91.733 milyar (18,1 milyar dolar) seviyesine \u00e7\u0131kt\u0131\u011f\u0131n\u0131 g\u00f6sterdi; hesap say\u0131s\u0131 57.000 artarak 12,53 milyona y\u00fckseldi. MCX India hacimleri temmuzda 14,9 tona ula\u015farak 13,5 tonluk \u00fc\u00e7 ayl\u0131k ortalamay\u0131 a\u015ft\u0131.<\/p>\n
Bu yaz\u0131n ba\u015f\u0131ndaki sert d\u00fczeltmenin ard\u0131ndan Hindistan alt\u0131n piyasas\u0131nda g\u00fc\u00e7l\u00fc bir toparlanman\u0131n \u015fekillendi\u011fini g\u00f6r\u00fcyoruz; bu da t\u00fcrev i\u015flem yapanlar i\u00e7in cazip bir al\u0131m f\u0131rsat\u0131 yarat\u0131yor. A\u011fustosun ba\u015f\u0131nda Hindistan\u2019da yurti\u00e7i alt\u0131n fiyatlar\u0131 yakla\u015f\u0131k %7 y\u00fckselirken, uluslararas\u0131 fiyatlar %9 s\u0131\u00e7rad\u0131. B\u00fcy\u00fck sonbahar festival sezonu yakla\u015f\u0131rken, bu yukar\u0131 y\u00f6nl\u00fc momentumu yakalamak i\u00e7in yat\u0131r\u0131mc\u0131lar\u0131n MCX alt\u0131n vadeli i\u015flemlerinde uzun pozisyon olu\u015fturmalar\u0131n\u0131 \u00f6neriyoruz.<\/p>\n
Y\u00fckseli\u015f beklentimizi fiziksel talep verileri de destekliyor: Hindistan\u2019\u0131n alt\u0131n ithalat\u0131 temmuzda, hazirandaki 20 tona k\u0131yasla tahmini 40\u201345 tona ikiye katland\u0131. Tarihsel veriler, yurti\u00e7i alt\u0131n iskontosundaki d\u00fc\u015f\u00fc\u015f\u00fcn\u2014haziranda ons ba\u015f\u0131na 100 dolardan a\u011fustos ortas\u0131nda 45 dolara daralmas\u0131\u2014arz\u0131n s\u0131k\u0131la\u015ft\u0131\u011f\u0131na ve t\u00fcketici i\u015ftah\u0131n\u0131n artt\u0131\u011f\u0131na i\u015faret etti\u011fini g\u00f6steriyor. Fiziksel piyasadaki bu s\u0131k\u0131l\u0131k genellikle t\u00fcrev piyasaya da yans\u0131r ve yak\u0131n vade kontrat fiyatlar\u0131n\u0131 yukar\u0131 iter.<\/p>\n
Multi Commodity Exchange (MCX) \u00fczerindeki i\u015flem hacimleri temmuzda 14,9 tona y\u00fckselerek, talep art\u0131\u015f\u0131 \u00f6ncesinde kurumsal kat\u0131l\u0131m\u0131n g\u00fc\u00e7lendi\u011fine i\u015faret etti. Olas\u0131 volatiliteyi y\u00f6netmek i\u00e7in, yat\u0131r\u0131mc\u0131lar\u0131n \u00e7\u0131plak vadeli pozisyonlar yerine eyl\u00fcl ve ekim vadeli alt\u0131n opsiyonlar\u0131nda bo\u011fa al\u0131m spread\u2019lerini (bull call spread) kullanmalar\u0131n\u0131 \u00f6neriyoruz. Bu strateji a\u015fa\u011f\u0131 y\u00f6nl\u00fc riskimizi s\u0131n\u0131rland\u0131r\u0131rken, kuyumcular\u0131n stoklar\u0131n\u0131 yenilemesiyle beklenen fiyat y\u00fckseli\u015finden faydalanmam\u0131za imkan tan\u0131r.<\/p>\n
Makro tarafta, k\u00fcresel para politikalar\u0131ndaki de\u011fi\u015fen beklentiler ve zay\u0131flayan ABD dolar\u0131, de\u011ferli metaller i\u00e7in destekleyici r\u00fczgarlar olmaya devam ediyor. Son finansal veriler, k\u00fcresel alt\u0131n ETF\u2019lerinin yeniden net giri\u015flere d\u00f6nd\u00fc\u011f\u00fcn\u00fc g\u00f6steriyor; bu da fiyatlar i\u00e7in g\u00fc\u00e7l\u00fc bir taban olu\u015fmas\u0131na katk\u0131 sa\u011fl\u0131yor. Bu fakt\u00f6rlerin birle\u015fiminin, \u00f6n\u00fcm\u00fczdeki haftalarda alt\u0131n t\u00fcrevlerinde uzun y\u00f6nl\u00fc (long) bias\u2019\u0131 korumak i\u00e7in ikna edici bir gerek\u00e7e sundu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz.<\/p>\n\n\n\n
Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":" Festival sezonu \u00f6ncesi Hindistan alt\u0131n\u0131nda f\u0131rsat! Haziran d\u00fczeltmesi sonras\u0131 fiyatlar a\u011fustosta toparland\u0131; ithalat ikiye katland\u0131, iskontolar darald\u0131. Dolar zay\u0131fl\u0131\u011f\u0131 ve ETF giri\u015fleri MCX\u2019te uzun\/opsiyon stratejilerini destekliyor.<\/p>\n","protected":false},"author":87,"featured_media":50089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t