K\u00fcresel \u00e7apta jeopolitik risklerin s\u00fcrmesi, ABD y\u00f6netiminin Gr\u00f6nland konusundaki \u0131srar\u0131 ve Avrupa \u00fclkeleriyle bu mesele \u00fczerinden ya\u015fanan gerilim, ABD Merkez Bankas\u0131na (Fed) y\u00f6nelik gev\u015feme beklentilerinde kayda de\u011fer bir de\u011fi\u015fim olmamas\u0131 ve buna ba\u011fl\u0131 olarak dolar\u0131n de\u011fer kaybetme e\u011filimini s\u00fcrd\u00fcrebilece\u011fine dair beklentiler, de\u011ferli metalleri destekliyor.<\/p>\n
Buna ek olarak ABD’de federal h\u00fck\u00fcmetin k\u0131smen de olsa yeniden kapanmas\u0131 endi\u015feleri ve \u00c7in’de artan talep fiyat hareketlerinde etkili oldu. Alt\u0131nda ge\u00e7en y\u0131lki rekor serisi ocak ay\u0131nda da devam etti. Y\u0131la 4 bin 313 dolardan ba\u015flayan alt\u0131n\u0131n onsu s\u00f6z konusu geli\u015fmelerin etkisiyle 5 bin 598 dolara kadar y\u00fckseldi. Ay\u0131n son i\u015flem g\u00fcn\u00fcnde etkili olan kar sat\u0131\u015flar\u0131 ve ABD Ba\u015fkan\u0131 Donald Trump’\u0131n ABD Merkez Bankas\u0131 (Fed) Ba\u015fkanl\u0131\u011f\u0131na Kevin Warsh’\u0131 aday g\u00f6stermesinin etkisiyle alt\u0131n\u0131n onsu y\u00fczde 10,13 de\u011fer kaybetti.<\/p>\n
G\u00f6r\u00fclen bu sert sat\u0131\u015fa ra\u011fmen alt\u0131n\u0131n onsu ocakta yat\u0131r\u0131mc\u0131s\u0131na \u00e7ift haneli bir getiri sa\u011flad\u0131. Alt\u0131n\u0131n onsu ocak ay\u0131nda y\u00fczde 12,42 artarak son 16 y\u0131l\u0131n en iyi ayl\u0131k performans\u0131n\u0131 g\u00f6sterdi.<\/p>\n
Alt\u0131ndaki y\u00fckseli\u015f bir\u00e7ok fakt\u00f6r\u00fcn birle\u015fmesinden kaynaklan\u0131yor<\/strong><\/p>\n Alt\u0131ndaki y\u00fckseli\u015f, yat\u0131r\u0131mc\u0131lar\u0131n devlet tahvillerinden ve para birimlerinden \u00e7\u0131k\u0131\u015f\u0131yla tetiklendi. K\u00fcresel ticarete ili\u015fkin endi\u015feler, a\u011f\u0131r mali harcamalar ve ABD’nin yen’i desteklemek i\u00e7in m\u00fcdahale edebilece\u011fi y\u00f6n\u00fcndeki spek\u00fclasyonlar dolar \u00fczerinde bask\u0131 yarat\u0131yor ve de\u011ferli metalleri \u00e7o\u011fu al\u0131c\u0131 i\u00e7in daha ucuz hale getiriyor.<\/p>\n Jeopolitik gerilimlerin artmas\u0131 ve Fed’in ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131na ili\u015fkin endi\u015feler nedeniyle k\u0131ymetli metallerin fiyatlar\u0131 bu y\u0131l \u00f6nemli \u00f6l\u00e7\u00fcde y\u00fckseldi. Alt\u0131n\u0131n son d\u00f6nemdeki y\u00fckseli\u015fi, tek bir tetikleyici fakt\u00f6rden ziyade bir\u00e7ok fakt\u00f6r\u00fcn birle\u015fmesinden kaynaklan\u0131yor. Jeopolitik riskler, alt\u0131n al\u0131mlar\u0131n\u0131n devam etmesi, Fed’in faiz indirimlerine devam edece\u011fine dair \u00f6ng\u00f6r\u00fcler ile ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131na ili\u015fkin endi\u015feler, ABD’nin ticaret politikalar\u0131ndan dolay\u0131 dolar\u0131n de\u011fer kaybetmesi ba\u015fl\u0131ca fakt\u00f6rler aras\u0131nda yer al\u0131yor.<\/p>\n “Devlet tahvilleri ve para birimlerinden uzakla\u015fma fiyatlarda etkili oldu”<\/strong><\/p>\n Saxo Capital Emtia Strateji Ba\u015fkan\u0131 Ole Hansen, AA muhabirine yapt\u0131\u011f\u0131 de\u011ferlendirmede, “Yat\u0131r\u0131mc\u0131lar para birimlerindeki de\u011fer kayb\u0131 riskine kar\u015f\u0131 kendilerini korumak amac\u0131yla ‘debasement trade’ ad\u0131 verilen bir e\u011filimle, devlet tahvillerinden ve para birimlerinden uzakla\u015fmaya ba\u015flad\u0131 ve bu e\u011filimi dolar\u0131n zay\u0131flamas\u0131 daha da tetikledi.” dedi.<\/p>\n Politik riskler, ABD’de federal h\u00fck\u00fcmetin kapanmas\u0131 ve Fed’e ili\u015fkin spek\u00fclasyonlar\u0131n dolar \u00fczerindeki bask\u0131y\u0131 s\u00fcrd\u00fcrd\u00fc\u011f\u00fcn\u00fc belirten Hansen, end\u00fcstriyel g\u00fcm\u00fc\u015f talebinin d\u00fc\u015fmeye ba\u015flamas\u0131yla yat\u0131r\u0131mc\u0131lar\u0131n maddi varl\u0131k talebinin odak noktas\u0131nda alt\u0131n\u0131n olabilece\u011fini ifade etti.<\/p>\n Kontrols\u00fcz mali bor\u00e7 yarat\u0131m\u0131, itibari para birimlerine olan g\u00fcveni a\u015f\u0131nd\u0131rmaya devam ederken, ABD’nin ayr\u0131cal\u0131kl\u0131 konumunun zay\u0131flamas\u0131 ve sermayenin ba\u015fka yerlere kaymaya ba\u015flamas\u0131yla dolar\u0131n da de\u011fer kaybetti\u011fini dile getiren Hansen, \u015funlar\u0131 kaydetti:<\/p>\n “Jeopolitik belirsizlik y\u00fcksek seviyede kalmaya devam ediyor, bu durum giderek daha \u00f6ng\u00f6r\u00fclemez hale gelen ABD siyasi ortam\u0131yla daha da art\u0131yor ve enflasyon endi\u015feleri bir\u00e7ok politika yap\u0131c\u0131n\u0131n umdu\u011fundan daha kal\u0131c\u0131 oldu. Bu de\u011fi\u015fim, emtia piyasalar\u0131n\u0131n \u00f6tesinde de g\u00f6r\u00fclmeye ba\u015flanm\u0131\u015ft\u0131r. K\u00fcresel hisse senedi performans\u0131, ABD varl\u0131klar\u0131ndan kademeli bir yeniden da\u011f\u0131t\u0131m oldu\u011funu yans\u0131tmaktad\u0131r ve bu y\u0131l\u0131n ba\u015f\u0131ndan bu yana geli\u015fmekte olan piyasalar, geli\u015fmi\u015f piyasalara g\u00f6re daha iyi performans g\u00f6stermektedir. Buna paralel olarak, getiriden \u00e7ok korunma arayan yat\u0131r\u0131mc\u0131lar\u0131n ilgisini \u00e7eken alt\u0131n\u0131n portf\u00f6y dengeleyici ve sistemik riske kar\u015f\u0131 koruma sa\u011flayan rol\u00fc yeniden teyit edildi.”<\/p>\n “ABD’deki politika belirsizli\u011fi talebin artmas\u0131na katk\u0131da bulundu”<\/strong><\/p>\n Capital Economics \u0130klim ve Emtia Ekonomisti Hamad Hussain, “Alt\u0131n fiyatlar\u0131n\u0131 rekor seviyelere ta\u015f\u0131yan fakt\u00f6rlerin bir araya gelmesiyle adeta m\u00fckemmel bir f\u0131rt\u0131na olu\u015fmu\u015f gibi g\u00f6r\u00fcn\u00fcyor.” dedi.<\/p>\n Dolar\u0131n son d\u00f6rt y\u0131l\u0131n en d\u00fc\u015f\u00fck seviyesine geriledi\u011fini belirten Hussain, bu arada, ABD’nin Gr\u00f6nland ve \u0130ran’a y\u00f6nelik tehditleriyle ilgili artan jeopolitik risklerin alt\u0131na olan g\u00fcvenli liman talebini art\u0131rd\u0131\u011f\u0131n\u0131 ifade etti.<\/p>\n ABD’deki politika belirsizli\u011finin de talebin artmas\u0131na katk\u0131da bulundu\u011funu aktaran Hussain, “Sonu\u00e7 olarak, alt\u0131n fiyatlar\u0131n\u0131 destekleyen \u00f6nemli bir yukar\u0131 y\u00f6nl\u00fc ivme var ve bu durum yak\u0131n vadede de devam edebilir.” ifadesini kulland\u0131.<\/p>\n\n <\/p>\n Kaynak :\u00a0http:\/\/www.milliyet.com.tr\/ekonomi\/altinin-onsu-17-yil-sonra-en-iyi-aylik-performansini-gosterdi-7531872<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Alt\u0131n\u0131n ons fiyat\u0131 ocak ay\u0131nda y\u00fczde 12,42 artarak Kas\u0131m 2009’dan bu yana en iyi ayl\u0131k performans\u0131n\u0131 g\u00f6sterdi.<\/p>\n","protected":false},"author":1,"featured_media":175304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[431,381,11397,548,11398],"class_list":["post-175303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-abd","tag-altin","tag-altinin","tag-para","tag-politik"],"_links":{"self":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/175303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/comments?post=175303"}],"version-history":[{"count":1,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/175303\/revisions"}],"predecessor-version":[{"id":175305,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/175303\/revisions\/175305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media\/175304"}],"wp:attachment":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media?parent=175303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/categories?post=175303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/tags?post=175303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}