{"id":136438,"date":"2026-08-21T16:45:21","date_gmt":"2026-08-21T13:45:21","guid":{"rendered":"https:\/\/ekonomigundemi.com.tr\/index.php\/2026\/08\/21\/altin-fiyatlarinda-tahvil-stresi-ve-guclu-talep-etkisi"},"modified":"2026-08-21T16:45:21","modified_gmt":"2026-08-21T13:45:21","slug":"altin-fiyatlarinda-tahvil-stresi-ve-guclu-talep-etkisi","status":"publish","type":"post","link":"https:\/\/ekonomigundemi.com.tr\/index.php\/2026\/08\/21\/altin-fiyatlarinda-tahvil-stresi-ve-guclu-talep-etkisi\/","title":{"rendered":"Alt\u0131n fiyatlar\u0131nda tahvil stresi ve g\u00fc\u00e7l\u00fc talep etkisi"},"content":{"rendered":"<p class=\"MsoNormal\">Haftaya zay\u0131flayan dolar ve ABD\u2019de beklentilerin alt\u0131nda kalan ekonomik verilerin etkisiyle pozitif ba\u015flayan ons alt\u0131n, petrol kaynakl\u0131 enflasyon endi\u015feleri nedeniyle hafta i\u00e7inde dalgal\u0131 bir seyir izledi.<\/p>\n<p class=\"MsoNormal\">Analizde, ABD Hazinesi\u2019nin \u00e7ar\u015famba g\u00fcn\u00fc uzun vadeli tahvillerde i\u015flem ba\u015f\u0131na geri al\u0131m b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc 2 milyar dolardan en az 4 milyar dolara \u00e7\u0131karaca\u011f\u0131n\u0131 a\u00e7\u0131klamas\u0131n\u0131n ard\u0131ndan ons alt\u0131nda g\u00fc\u00e7l\u00fc y\u00fckseli\u015f g\u00f6r\u00fcld\u00fc\u011f\u00fc belirtildi. Tahvil piyasalar\u0131ndaki iyimserli\u011fin kal\u0131c\u0131 olmamas\u0131na kar\u015f\u0131n alt\u0131n\u0131n kazand\u0131\u011f\u0131 momentumla 4.500 dolar seviyesinin \u00fczerine \u00e7\u0131kt\u0131\u011f\u0131 ifade edildi.<\/p>\n<p class=\"MsoNormal\">ABD Hazinesi\u2019nin tahvil piyasas\u0131na y\u00f6nelik m\u00fcdahalesinin yan\u0131 s\u0131ra 40 trilyon dolar\u0131 a\u015fan kamu borcu ve y\u00fcksek b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131n\u0131n uzun vadeli faizler \u00fczerindeki etkisine ili\u015fkin endi\u015felerin de yat\u0131r\u0131mc\u0131lar\u0131n alt\u0131na olan ilgisini art\u0131rd\u0131\u011f\u0131 kaydedildi.<\/p>\n<p class=\"MsoNormal\">Jeopolitik geli\u015fmelerin ise alt\u0131n fiyatlar\u0131 \u00fczerinde bask\u0131 olu\u015fturdu\u011fu belirtildi. ABD\u2019nin \u0130ran\u2019a destek veren \u00fclkelere y\u00f6nelik a\u011f\u0131r yapt\u0131r\u0131mlar uygulayaca\u011f\u0131na ili\u015fkin a\u00e7\u0131klamalar\u0131n\u0131n ard\u0131ndan Brent petrol\u00fcn 94 dolar seviyelerinde fiyatland\u0131\u011f\u0131 ifade edilirken, ABD-\u0130ran hatt\u0131ndaki gerilimin y\u00fckselmesi ve taraflardan gelen sert a\u00e7\u0131klamalar\u0131n ons alt\u0131nda y\u00fckseli\u015f momentumunu s\u0131n\u0131rlayan ba\u015fl\u0131ca unsurlar aras\u0131nda yer ald\u0131\u011f\u0131 aktar\u0131ld\u0131.<\/p>\n<p class=\"MsoNormal\">Analizde, fiziksel destekli alt\u0131n borsa yat\u0131r\u0131m fonlar\u0131nda (ETF) g\u00fc\u00e7l\u00fc talep g\u00f6r\u00fcn\u00fcm\u00fcn\u00fcn s\u00fcrd\u00fc\u011f\u00fcne dikkat \u00e7ekildi. 14 A\u011fustos haftas\u0131nda k\u00fcresel fiziksel destekli alt\u0131n ETF\u2019lerine toplam 3,5 milyar dolar net giri\u015f ger\u00e7ekle\u015firken, fonlar\u0131n alt\u0131n varl\u0131klar\u0131n\u0131n 23,6 ton artt\u0131\u011f\u0131 belirtildi. B\u00f6lgesel bazda Avrupa, 2,3 milyar dolar ve 15,1 tonluk art\u0131\u015fla giri\u015flere \u00f6nc\u00fcl\u00fck etti. \u00dc\u00e7 ana b\u00f6lgede de giri\u015flerin devam etmesinin alt\u0131n ETF\u2019lerine y\u00f6nelik talebin geni\u015f tabanl\u0131 \u015fekilde g\u00fc\u00e7lendi\u011fine i\u015faret etti\u011fi de\u011ferlendirildi.<\/p>\n<p class=\"MsoNormal\">Emtia Vadeli \u0130\u015flemler Komisyonu\u2019nun (CFTC) yay\u0131mlad\u0131\u011f\u0131 son Taahh\u00fctler Raporu\u2019na (COT) g\u00f6re, COMEX alt\u0131n kontratlar\u0131nda ticari olmayan taraftaki uzun pozisyonlar\u0131n 250 bin 936 kontrata y\u00fckseldi\u011fi, k\u0131sa pozisyonlar\u0131n ise 32 bin 996 seviyesinde ger\u00e7ekle\u015fti\u011fi bildirildi. Uzun pozisyonlar\u0131n toplam a\u00e7\u0131k pozisyon i\u00e7erisindeki pay\u0131n\u0131n yakla\u015f\u0131k 62,7 seviyesine y\u00fckselmesinin spek\u00fclatif tarafta y\u00fckseli\u015f y\u00f6nl\u00fc pozisyonlanman\u0131n belirgin \u015fekilde g\u00fc\u00e7lendi\u011fini g\u00f6sterdi\u011fi ifade edildi.<\/p>\n<p class=\"MsoNormal\">Teknik g\u00f6r\u00fcn\u00fcm\u00fcn pozitif tarafta kalmaya devam etti\u011fi belirtilen analizde, ons alt\u0131nda 4.580 seviyesinin \u00fczerinde kal\u0131c\u0131l\u0131\u011f\u0131n k\u0131sa vadeli momentumun korunmas\u0131 a\u00e7\u0131s\u0131ndan \u00f6nemli oldu\u011fu vurguland\u0131. Yukar\u0131 y\u00f6nl\u00fc hareketin devam\u0131nda 4.650 b\u00f6lgesi ilk \u00f6nemli e\u015fik olarak \u00f6ne \u00e7\u0131karken, bu seviyenin a\u015f\u0131lmas\u0131 halinde 4.765 ve 4.850 b\u00f6lgelerinin diren\u00e7 olarak takip edilebilece\u011fi kaydedildi.<\/p>\n<p class=\"MsoNormal\">A\u015fa\u011f\u0131 y\u00f6nl\u00fc hareketlerde ise 4.580 seviyesinin ilk destek konumunda bulundu\u011fu, bu seviyenin alt\u0131nda 4.500 dolar psikolojik destek b\u00f6lgesinin \u00f6nem kazanaca\u011f\u0131 belirtildi. Sat\u0131\u015f bask\u0131s\u0131n\u0131n derinle\u015fmesi halinde 4.430 seviyesinin bir sonraki destek olarak \u00f6ne \u00e7\u0131kabilece\u011fi ifade edilirken, 4.500 seviyesinin alt\u0131nda kal\u0131c\u0131 fiyatlaman\u0131n son d\u00f6nemde g\u00fc\u00e7lenen teknik g\u00f6r\u00fcn\u00fcm\u00fc zay\u0131flatabilece\u011fi de\u011ferlendirildi.<\/p>\n<p class=\"MsoNormal\">Hareketli ortalamalar taraf\u0131nda fiyat\u0131n 100 ve 200 g\u00fcnl\u00fck \u00fcssel hareketli ortalamalar\u0131n \u00fczerinde seyretmesinin orta vadeli teknik g\u00f6r\u00fcn\u00fcmde olumlu yap\u0131n\u0131n korundu\u011funa i\u015faret etti\u011fi belirtilirken, ana ortalamalar\u0131n \u00fczerinde kal\u0131nd\u0131\u011f\u0131 s\u00fcrece olas\u0131 geri \u00e7ekilmelerin mevcut y\u00fckseli\u015f e\u011filimi i\u00e7erisinde d\u00fczeltme hareketi olarak de\u011ferlendirilebilece\u011fi kaydedildi.<\/p>\n<p> <strong><\/strong><br \/>\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0130stanbul, 21 A\u011fustos (Hibya)- Ahlatc\u0131 Yat\u0131r\u0131m\u2019\u0131n haftal\u0131k alt\u0131n analizine g\u00f6re, 17-21 A\u011fustos haftas\u0131nda ons alt\u0131n fiyatlamalar\u0131nda ABD tahvil piyasas\u0131nda artan stres ve ABD Hazinesi\u2019nin uzun vadeli tahvil faizlerini rahatlatmaya y\u00f6nelik ad\u0131mlar\u0131 belirleyici oldu.<\/p>\n","protected":false},"author":1,"featured_media":136439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[4,1,9],"tags":[],"class_list":["post-136438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dunya","category-ekonomi","category-manset"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/136438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=136438"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/136438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/136439"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=136438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=136438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=136438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}