{"id":69389,"date":"2026-10-08T03:53:57","date_gmt":"2026-10-08T03:53:57","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/gold-finds-floor-amid-cta-selling-as-central-bank-buying-and-etf-inflows-underpin-prices\/"},"modified":"2026-10-08T03:53:57","modified_gmt":"2026-10-08T03:53:57","slug":"gold-finds-floor-amid-cta-selling-as-central-bank-buying-and-etf-inflows-underpin-prices","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/gold-finds-floor-amid-cta-selling-as-central-bank-buying-and-etf-inflows-underpin-prices\/","title":{"rendered":"CTA sat\u0131\u015flar\u0131 aras\u0131nda alt\u0131n dip buluyor; merkez bankas\u0131 al\u0131mlar\u0131 ve ETF giri\u015fleri fiyatlar\u0131 destekliyor"},"content":{"rendered":"

De\u011ferli metaller, emtia i\u015flem dan\u0131\u015fmanlar\u0131ndan (CTA) gelen yo\u011fun sat\u0131\u015f bask\u0131s\u0131yla kar\u015f\u0131 kar\u015f\u0131ya kald\u0131; alt\u0131n ise y\u00fckselen reel faiz oranlar\u0131 ve daha g\u00fc\u00e7l\u00fc bir ABD dolar\u0131 nedeniyle bask\u0131 alt\u0131nda. Not, dengeleyici unsur olarak borsa yat\u0131r\u0131m fonlar\u0131na (ETF) y\u00f6nelik s\u00fcregelen giri\u015flere i\u015faret ederken, kendi g\u00f6r\u00fc\u015flerine g\u00f6re makro kar\u015f\u0131 r\u00fczg\u00e2rlara ra\u011fmen piyasay\u0131 istikrara kavu\u015fturmaya yard\u0131mc\u0131 olan devam eden merkez bankas\u0131 talebinin de alt\u0131n\u0131 \u00e7iziyor.<\/p>\n\n

\u00c7in\u2019in merkez bankas\u0131 PBoC, 23. ay \u00fcst \u00fcste al\u0131m yap\u0131ld\u0131\u011f\u0131n\u0131 bildirerek eyl\u00fclde 23 ton ekledi. Analistler ayr\u0131ca, iste\u011fe ba\u011fl\u0131 (discretionary) pozisyonlanma ile jeopolitik risk, mali endi\u015feler, dolar\u0131n de\u011fer a\u015f\u0131nmas\u0131, dolars\u0131zla\u015fma ve stagflasyona ba\u011fl\u0131 kal\u0131c\u0131 talebin deste\u011fini vurguluyor; bu g\u00fc\u00e7lerin, reel faizler y\u00fcksek kalsa bile al\u0131\u015flar\u0131n diren\u00e7li kalmas\u0131n\u0131 sa\u011flayabilece\u011fini savunuyorlar. Bu \u00e7er\u00e7evede, alt\u0131n\u0131n reel faizlerden daha da ayr\u0131\u015farak 2027\u2019ye kadar s\u00fcrecek bir bo\u011fa ko\u015fusunu uzatmas\u0131na uygun bir zemin olu\u015ftu\u011funu belirtiyorlar.<\/p>\n\n

Merkez Bankalar\u0131 ve ETF\u2019ler Sa\u011flam Bir Taban Olu\u015fturuyor<\/h3>\n\n

Emtia i\u015flem dan\u0131\u015fmanlar\u0131n\u0131n (CTA) alt\u0131n\u0131 agresif bi\u00e7imde satt\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcyoruz; bu da daha g\u00fc\u00e7l\u00fc bir dolar ortam\u0131nda fiyatlar \u00fczerinde k\u0131sa vadeli bask\u0131 yarat\u0131yor. Ancak, bu geri \u00e7ekilmenin \u00f6n\u00fcm\u00fczdeki haftalarda t\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131 i\u00e7in olduk\u00e7a cazip bir giri\u015f noktas\u0131 sundu\u011funa inan\u0131yoruz. Merkez bankalar\u0131ndan gelen g\u00fc\u00e7l\u00fc yap\u0131sal talep ve ETF giri\u015fleri, piyasan\u0131n alt\u0131nda sa\u011flam bir taban olu\u015fturuyor.<\/p>\n\n

Son raporlar, k\u00fcresel merkez bankas\u0131 alt\u0131n talebinin g\u00fc\u00e7l\u00fc seyrini korudu\u011funu ve y\u0131ll\u0131k 1.000 tonun \u00fczerindeki tarih\u00ee seviyelere yak\u0131n kald\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Ayr\u0131ca alt\u0131n ETF\u2019leri, \u00f6nceki d\u00f6nemdeki \u00e7\u0131k\u0131\u015f (likidasyon) e\u011filimini tersine \u00e7evirerek son birka\u00e7 ayda istikrarl\u0131 net giri\u015fler kaydetti. Bu istikrarl\u0131 kurumsal birikimi, \u201cd\u00fc\u015f\u00fc\u015fte al\u0131m\u201d i\u00e7in g\u00fc\u00e7l\u00fc bir sinyal olarak yorumlamal\u0131y\u0131z.<\/p>\n\n

Pozisyonlanma Stratejileri ve Piyasa G\u00f6r\u00fcn\u00fcm\u00fc<\/h3>\n\n

\u00d6n\u00fcm\u00fczdeki haftalarda, beklenen toparlanmadan faydalanmak i\u00e7in opsiyonlar veya vadeli i\u015flem s\u00f6zle\u015fmeleri arac\u0131l\u0131\u011f\u0131yla uzun pozisyonlar\u0131 hedeflemeliyiz. 2027 vadeli daha uzun tarihli opsiyonlar\u0131n kullan\u0131lmas\u0131, geni\u015f \u00f6l\u00e7ekli bo\u011fa trendinde pozisyonumuzu korurken k\u0131sa vadeli oynakl\u0131\u011f\u0131 y\u00f6netmemize yard\u0131mc\u0131 olacakt\u0131r. Bu y\u00fckseli\u015f y\u00f6nl\u00fc pozisyonlar\u0131 olu\u015fturmak i\u00e7in kritik destek seviyelerine odaklan\u0131lmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n\n

Artan jeopolitik riskler ve kamu borcu seviyelerine ili\u015fkin s\u00fcregelen endi\u015feler, yat\u0131r\u0131mc\u0131lar\u0131 g\u00fcvenli liman varl\u0131klar\u0131na y\u00f6nlendirmeye devam ediyor. Tarihsel olarak alt\u0131n, y\u00fckselen reel faiz oranlar\u0131ndan ba\u015far\u0131yla ayr\u0131\u015ft\u0131\u011f\u0131nda, g\u00fc\u00e7l\u00fc ve \u00e7ok y\u0131ll\u0131 y\u00fckseli\u015f trendlerinin \u00f6n\u00fc a\u00e7\u0131l\u0131r. Bu \u00f6zg\u00fcn piyasa dinami\u011fi, alt\u0131n i\u00e7in \u201cen az diren\u00e7li yolun\u201d yukar\u0131 y\u00f6n olmaya devam etti\u011fine i\u015faret ediyor.<\/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":"

Sat\u0131\u015f bask\u0131s\u0131na ald\u0131rmay\u0131n: CTA\u2019lar alt\u0131n\u0131 satarken g\u00fc\u00e7l\u00fc dolar ve reel faizler bask\u0131l\u0131yor. Ancak ETF giri\u015fleri ve merkez bankalar\u0131n\u0131n (PBoC 23 ton) al\u0131mlar\u0131 taban kuruyor; 2027\u2019ye uzayan bo\u011fa senaryosu g\u00fc\u00e7leniyor.<\/p>\n","protected":false},"author":87,"featured_media":69388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-69389","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