{"id":3743,"date":"2021-05-24T10:43:56","date_gmt":"2021-05-24T10:43:56","guid":{"rendered":"https:\/\/www.investaz.com.tr\/blog\/?p=3743"},"modified":"2023-01-26T08:59:01","modified_gmt":"2023-01-26T08:59:01","slug":"dolar-yukselirse-altin-duser-mi-dolar-duserse-altin-yukselir-mi","status":"publish","type":"post","link":"https:\/\/www.investaz.com.tr\/blog\/dolar-yukselirse-altin-duser-mi-dolar-duserse-altin-yukselir-mi\/","title":{"rendered":"Dolar Y\u00fckselirse Alt\u0131n D\u00fc\u015fer mi?"},"content":{"rendered":"\n<p><strong>Dolar Y\u00fckselirse Alt\u0131n D\u00fc\u015fer mi? Dolar D\u00fc\u015ferse Alt\u0131n Y\u00fckselir mi?<\/strong><\/p>\n\n\n\n<p>2020 y\u0131l\u0131 itibari ile birlikte \u00c7in\u2019de ba\u015flayan ve daha sonras\u0131nda global bir soruna d\u00f6n\u00fc\u015fen COVID-19 salg\u0131n\u0131 ile birlikte bir \u00e7ok alanda bozulmalar\u0131n ya\u015fand\u0131\u011f\u0131 izlendi\/izlenmeye devam ediyor. Finansal piyasalar a\u00e7\u0131s\u0131ndan ise bakt\u0131\u011f\u0131m\u0131zda eskiye nazaran bilinen \u00fcr\u00fcnler aras\u0131nda fiyatlama davran\u0131\u015flar\u0131nda ayr\u0131\u015fmalar\u0131n oldu\u011funu g\u00f6rmekteyiz. COVID-19 d\u00f6nemi ile birlikte bilindi\u011fi d\u00fc\u015f\u00fcn\u00fclen bir\u00e7ok denklemin rafa kalkt\u0131\u011f\u0131 ve finansal piyasalarda yeni tarz fiyatlama davran\u0131\u015flar\u0131n\u0131n ya\u015fand\u0131\u011f\u0131 izleniyor. Y\u0131l\u0131n geri kalan\u0131 i\u00e7in tahmin yapman\u0131n zorla\u015ft\u0131\u011f\u0131 bir d\u00f6nemde, emtia i\u00e7erisinde yer alan ons alt\u0131n analizini yapmaya \u00e7al\u0131\u015faca\u011f\u0131z. Piyasa oyuncular\u0131 taraf\u0131nda Dolar Y\u00fckselirse Alt\u0131n D\u00fc\u015fer mi? Dolar D\u00fc\u015ferse Alt\u0131n Y\u00fckselir mi? sorusuna cevap aramaya \u00e7al\u0131\u015faca\u011f\u0131z.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.investaz.com.tr\/blog\/2021-yatirim-tavsiyeleri\/\"><strong>2021 Yat\u0131r\u0131m Tavsiyeleri \u0130nceleyin<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.investaz.com.tr\/blog\/dolar-ne-olur-2\/\"><strong>2021 Dolar Tahminlerini \u0130nceleyin<\/strong><\/a><\/p>\n\n\n\n<p>Yak\u0131n tarihli olmas\u0131 sebebiyle ilk etapta D\u00fcnya Alt\u0131n Konseyi\u2019nin (WGC) a\u00e7\u0131klad\u0131\u011f\u0131 verilere g\u00f6re; 2021 y\u0131l\u0131 ilk \u00e7eyre\u011finde global alt\u0131n talebi 815,7 ton oldu. Bir \u00f6nceki y\u0131l\u0131n ayn\u0131 \u00e7eyre\u011fine g\u00f6re % 23 azal\u0131\u015f kaydedildi. Fakat 2020 y\u0131l\u0131 son \u00e7eyre\u011fine g\u00f6re k\u0131smi bir iyile\u015fme s\u00f6z konusu oldu\u011fu g\u00f6r\u00fclmekte. 2020 y\u0131l\u0131nda toplam alt\u0131n talebinin 2019 y\u0131l\u0131na g\u00f6re % 13 azal\u0131\u015f ile 3.803 ton olarak 2010 y\u0131l\u0131ndan sonra ilk kez 4.000 tonun alt\u0131na geriledi\u011fi g\u00f6r\u00fcld\u00fc. Raporda, alt\u0131n talebinde s\u0131n\u0131rl\u0131 iyile\u015fme i\u00e7in global b\u00fcy\u00fcme ve ekonomik iyile\u015fmeye y\u00f6nelik artan iyimser beklentilerin t\u00fcketici talebini art\u0131rm\u0131\u015f olabilece\u011fi belirtilmektedir.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/Picture1.png\" alt=\"\" class=\"wp-image-3746\" width=\"585\" height=\"205\"\/><\/figure>\n\n\n\n<p>\u00dclke baz\u0131nda bak\u0131ld\u0131\u011f\u0131nda, m\u00fccevherat taraf\u0131nda 2021 y\u0131l\u0131 ilk \u00e7eyre\u011finde bir \u00f6nceki \u00e7eyre\u011fe k\u0131yasla \u00c7in ve Hindistan\u2019da talep noktas\u0131nda iyile\u015fme dikkat \u00e7ekmektedir. K\u00fcresel merkez bankalar\u0131 taraf\u0131na bak\u0131ld\u0131\u011f\u0131nda ise y\u0131l\u0131n ilk \u00e7eyre\u011finde alt\u0131n talebi 95,5 ton olarak ger\u00e7ekle\u015fti. Raporda, T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131 ilk \u00e7eyrekte en fazla alt\u0131n sat\u0131\u015f\u0131 yapan merkez bankas\u0131 oldu\u011fu belirtilmektedir. Ayn\u0131 zamanda, T\u00fcrkiye\u2019nin k\u00fcl\u00e7e ve sikke olarak alt\u0131n talebinde ise 2021 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde 2020 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %90 art\u0131\u015f kaydedildi\u011fi g\u00f6r\u00fclmekte. T\u00fcrk yat\u0131r\u0131mc\u0131lar ilk \u00e7eyrekte 44,3 ton k\u00fcl\u00e7e alt\u0131n ald\u0131lar. Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6neminde bu rakam 23,3 ton seviyesindeydi. T\u00fcrkiye\u2019nin m\u00fccevher olarak alt\u0131n talebi de 2021 ilk \u00e7eyrekte ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re % 5 artarak 9 tona y\u00fckseldi. Ancak, m\u00fccevher ama\u00e7l\u0131 alt\u0131n talebi 2019 ilk \u00e7eyre\u011fin % 6 alt\u0131nda kald\u0131\u011f\u0131 g\u00f6r\u00fclmektedir.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" width=\"518\" height=\"293\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/2.png\" alt=\"\" class=\"wp-image-3747\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" width=\"472\" height=\"618\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/3-1.png\" alt=\"\" class=\"wp-image-3750\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/4-1.png\" alt=\"\" class=\"wp-image-3751\" width=\"469\" height=\"641\"\/><\/figure>\n\n\n\n<p>\u0130lk \u00e7eyrekte T\u00fcrkiye\u2019de k\u00fcl\u00e7e ve sikke alt\u0131na yat\u0131r\u0131m 18,8 milyar TL\u2019ye ula\u015ft\u0131. Bu, bir \u00e7eyrek d\u00f6nemde g\u00f6r\u00fclen en y\u00fcksek ikinci yat\u0131r\u0131m olarak kay\u0131tlara ge\u00e7ti. 2020 y\u0131l\u0131n\u0131n ilk yar\u0131s\u0131nda alt\u0131nda 14,8 milyar TL yat\u0131r\u0131m yap\u0131lm\u0131\u015ft\u0131.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"622\" height=\"497\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/5.png\" alt=\"\" class=\"wp-image-3752\"\/><\/figure>\n\n\n\n<p>D\u00fcnya Alt\u0131n Konseyi taraf\u0131ndan a\u00e7\u0131klanan rapora g\u00f6re, T\u00fcrkiye, 2021 y\u0131l\u0131n\u0131n ilk \u00e7eyrek d\u00f6neminde 12\u2019nci s\u0131rada yer al\u0131rken, T\u00fcrkiye\u2019nin alt\u0131n rezervleri 512,6 ton olarak a\u00e7\u0131kland\u0131. ABD 8.133,5 ton rezervle ilk s\u0131radaki yer al\u0131rken, Almanya 3.362,4 ton ile ikinci s\u0131rada, IMF 2.814,0 ton ile \u00fc\u00e7\u00fcnc\u00fc s\u0131rada bulunuyor. \u0130lk \u00fc\u00e7 s\u0131rada bir \u00f6nceki d\u00f6neme g\u00f6re de\u011fi\u015fiklik olmad\u0131\u011f\u0131 g\u00f6r\u00fcld\u00fc.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/6.png\" alt=\"\" class=\"wp-image-3753\" width=\"526\" height=\"421\"\/><\/figure>\n\n\n\n<p>Di\u011fer taraftan, ETF\u2019ler taraf\u0131na bak\u0131ld\u0131\u011f\u0131nda, 2020 y\u0131l\u0131 son \u00e7eyre\u011finde devam eden \u00e7\u0131k\u0131\u015f\u0131n 2021 y\u0131l\u0131 ilk \u00e7eyre\u011finde artarak devam etti\u011fi g\u00f6r\u00fclmektedir. B\u00fcy\u00fckl\u00fckleri bak\u0131m\u0131ndan baz\u0131 ETF\u2019ler a\u015fa\u011f\u0131da yer almaktad\u0131r. \u00d6zellikle, ABD\u2019de tahvil getirilerinde ya\u015fanan yukar\u0131 y\u00f6nl\u00fc e\u011filimin k\u0131ymetli metal fiyatlamalar\u0131 \u00fczerinde bask\u0131y\u0131 art\u0131rd\u0131\u011f\u0131 izlenirken, t\u00fcketici talebinde kuvvetlenme bu bask\u0131y\u0131 bir miktar hafifletti\u011fi belirtiliyor.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/7.png\" alt=\"\" class=\"wp-image-3754\" width=\"-120\" height=\"-67\"\/><\/figure>\n\n\n\n<p>Alt\u0131n \u00e7\u0131karma tahmini maliyetlerine bak\u0131ld\u0131\u011f\u0131nda ise bloomberg terminalinden derledi\u011fimiz verilere g\u00f6re; b\u00fcy\u00fck \u00f6l\u00e7ekli \u015firketler i\u00e7in t\u00fcm maliyetler dahil 992,2 dolar\/oz ve orta \u00f6l\u00e7ekli \u015firketler i\u00e7in 1.053,9 dolar\/oz oldu\u011fu g\u00f6r\u00fclmektedir. Fakat sadece \u00e7\u0131karma maliyetlerine bak\u0131larak ilerleyen d\u00f6nem a\u00e7\u0131s\u0131ndan tahmin olu\u015fturman\u0131n do\u011fru olmayaca\u011f\u0131n\u0131 \u00f6ng\u00f6r\u00fcyoruz. \u00c7\u00fcnk\u00fc, bilgi payla\u015f\u0131m\u0131nda olan firma say\u0131s\u0131n\u0131n s\u0131n\u0131rl\u0131 olmas\u0131 kullan\u0131lan, co\u011frafi konumun \u015fekli, uygulanan tekniklere y\u00f6nelik ayr\u0131nt\u0131lar\u0131n olmamas\u0131, girdi maliyetlerinin bilinmemesinden dolay\u0131 sadece ek bir bilgi olmas\u0131 a\u00e7\u0131s\u0131ndan payla\u015f\u0131lmaktad\u0131r. \u0130lerleyen d\u00f6neme dair bir tahmin yap\u0131lmas\u0131 a\u00e7\u0131s\u0131ndan g\u00f6sterge niteli\u011fi te\u015fkil etmemektedir.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"981\" height=\"356\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/8.png\" alt=\"\" class=\"wp-image-3755\"\/><\/figure>\n\n\n\n<p><strong>Alt\u0131n ile ilgili baz\u0131 rasyolar\u0131: <\/strong>K\u0131ymetli metalin di\u011fer finansal \u00fcr\u00fcnler ile ilgili yapt\u0131\u011f\u0131m\u0131z s\u0131n\u0131rl\u0131 rasyo analizine g\u00f6re, Salg\u0131na dair ya\u015fanan a\u015f\u0131lama s\u00fcrecinin geli\u015fmi\u015f \u00fclkelerde h\u0131z kazanmas\u0131na kar\u015f\u0131n hala d\u00fcnya genelinde istenen d\u00fczeye yay\u0131lmamas\u0131 ba\u015fl\u0131ca bir risk fakt\u00f6r\u00fc olmaya devam etti\u011fi g\u00f6r\u00fcl\u00fcyor. Emtia taraf\u0131nda y\u0131lba\u015f\u0131ndan bu yana arz-talep dengesizli\u011fi ve tedarik zincirinde bozulmalar nedeniyle fiyatlama davran\u0131\u015flar\u0131nda oynakl\u0131\u011f\u0131n artt\u0131\u011f\u0131 dikkat \u00e7ekmekte. Ayn\u0131 zamanda, ekonomik b\u00fcy\u00fcmeye dair iyimser beklentilerin art\u0131\u015f g\u00f6stermesi ve sanayi sekt\u00f6r\u00fcnde toparlanma e\u011filiminin h\u0131z kazanabilece\u011fine y\u00f6nelik emareler, emtia fiyatlamalar\u0131 \u00fczerinde \u00f6nemli etkileri g\u00f6r\u00fclmeye devam ediyor. Emtia grubu i\u00e7erisinde yer alan \u00fcr\u00fcnlerin kendine has fiyatlama davran\u0131\u015flar\u0131n\u0131 ve i\u00e7 dinamiklerini etkileyen fakt\u00f6rlerin farkl\u0131 oldu\u011funun unutulmamas\u0131 gerekmektedir.<\/p>\n\n\n\n<p><strong><u>a-Alt\u0131n\/Bak\u0131r rasyosu<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"587\" height=\"218\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/9.png\" alt=\"\" class=\"wp-image-3756\"\/><\/figure>\n\n\n\n<p><strong><u>b-Alt\u0131n\/Brent Petrol Rasyosu<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"593\" height=\"222\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/10.png\" alt=\"\" class=\"wp-image-3757\"\/><\/figure>\n\n\n\n<p><strong><u>c-Alt\u0131n\/G\u00fcm\u00fc\u015f Rasyosu<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"564\" height=\"208\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/11.png\" alt=\"\" class=\"wp-image-3758\"\/><\/figure>\n\n\n\n<p><strong><u>Alt\u0131n\/Dolar Endeksi Rasyosu<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"575\" height=\"214\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/13.png\" alt=\"\" class=\"wp-image-3759\"\/><\/figure>\n\n\n\n<p>Dolar endeksi 6 para biriminden olu\u015fmaktad\u0131r. Dolar endeksinde yer alan para birimlerinin a\u011f\u0131rl\u0131klar\u0131 farkl\u0131d\u0131r. En y\u00fcksek pay % 57,6 ile Euro\u2019dur. Bu ba\u011flamda, son d\u00f6nemde ABD\u2019de enflasyon taraf\u0131nda ya\u015fanan sert yukar\u0131 y\u00f6nl\u00fc e\u011filimin ve makro ekonomik verilerde kar\u0131\u015f\u0131k seyir global piyasalarda dolar \u00fczerinde bask\u0131y\u0131 bir miktar art\u0131rd\u0131\u011f\u0131 izleniyor. Di\u011fer taraftan, enflasyonda ya\u015fanan ana e\u011filime kar\u015f\u0131n FED \u00fcyelerinin bekle-g\u00f6r politikas\u0131na devam edeceklerini ifade etmeleri ve FED\u2019in politika faiz aral\u0131\u011f\u0131n\u0131 uzun bir m\u00fcddet d\u00fc\u015f\u00fck tutaca\u011f\u0131n\u0131 a\u00e7\u0131klamas\u0131 dolar \u00fczerinde di\u011fer bir bask\u0131 fakt\u00f6r\u00fc olarak kar\u015f\u0131m\u0131za \u00e7\u0131k\u0131yor. Ayr\u0131ca, salg\u0131n d\u00f6neminde geli\u015fmi\u015f \u00fclke merkez bankalar\u0131n\u0131n varl\u0131k al\u0131m programlar\u0131 ba\u015flamalar\u0131 nedeniyle bilan\u00e7olar\u0131n\u0131 b\u00fcy\u00fctmelerine kar\u015f\u0131n son d\u00f6nemde baz\u0131 Avrupa Merkez Bankas\u0131 \u00fcyelerinden varl\u0131k al\u0131m program\u0131nda azalt\u0131m s\u00fcrecinin ba\u015flayabilece\u011fine dair s\u00f6ylemlerin k\u0131sa vadede Euro \u00fczerinde toparlanma iste\u011fini g\u00fcndeme getirebilece\u011fini bunun da dolar endeksinde zay\u0131flamalara neden olabilece\u011fini \u00f6ng\u00f6r\u00fcyoruz. Dolar endeksi \u00fczerinde bir\u00e7ok fakt\u00f6r etkili olmaya devam ederken, bu tarz geli\u015fmelerin ons alt\u0131n fiyatlamalar\u0131nda k\u0131sa vadede toparlanma e\u011filimini g\u00fcndeme getirebilece\u011fi ihtimali ile alt\u0131n\/dolar endeksi rasyosunda yukar\u0131 y\u00f6nl\u00fc hareketlerin ya\u015fanmas\u0131na neden olabilece\u011fini d\u00fc\u015f\u00fcn\u00fcyoruz.<\/p>\n\n\n\n<p>Di\u011fer taraftan, Dolar endeksi ve ons alt\u0131n\u0131n 120 g\u00fcnl\u00fck korelasyonu bak\u0131ld\u0131\u011f\u0131nda, iki enstr\u00fcman aras\u0131nda ili\u015fkinin zay\u0131flad\u0131\u011f\u0131 izleniyor.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"262\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/14.png\" alt=\"\" class=\"wp-image-3760\"\/><\/figure>\n\n\n\n<p><strong><u>Fed politika faiz oran\u0131 \u00fcst band\u0131 ve ons alt\u0131n grafi\u011fi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"760\" height=\"454\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/15.png\" alt=\"\" class=\"wp-image-3761\"\/><\/figure>\n\n\n\n<p><strong><u>4 b\u00fcy\u00fck merkez bankas\u0131 (FED+ECB+BOJ+PBOC) ve ons alt\u0131n grafi\u011fi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"775\" height=\"277\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/16.png\" alt=\"\" class=\"wp-image-3762\"\/><\/figure>\n\n\n\n<p><strong><u>ABD Enflasyon Geli\u015fimi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"793\" height=\"314\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/17.png\" alt=\"\" class=\"wp-image-3763\"\/><\/figure>\n\n\n\n<p><strong><u>Ons alt\u0131n ile ABD 10 y\u0131ll\u0131k tahvil ve enflasyona endeksli 10 y\u0131ll\u0131k tahvil getirisi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"297\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/18.png\" alt=\"\" class=\"wp-image-3764\"\/><\/figure>\n\n\n\n<p><strong><u>Ons Alt\u0131n ve ABD on y\u0131ll\u0131k tahvil getirisi grafiksel g\u00f6sterimi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"804\" height=\"277\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/19.png\" alt=\"\" class=\"wp-image-3765\"\/><\/figure>\n\n\n\n<p><strong><u>Ons alt\u0131n teknik analizi<\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"981\" height=\"381\" src=\"https:\/\/www.investaz.com.tr\/blog\/wp-content\/uploads\/2021\/05\/20.png\" alt=\"\" class=\"wp-image-3766\"\/><\/figure>\n\n\n\n<p>Teknik olarak bak\u0131ld\u0131\u011f\u0131nda, ons alt\u0131n\u0131n Fibo % 50\u2019lik dilimine tekab\u00fcl eden 1873$ seviyesi psikolojik de\u011fer olarak takip edilebilir. Bu seviye \u00fczerine ge\u00e7i\u015flerde k\u0131sa ve orta vadede Fibo % 61,8\u2019lik dilimine tekab\u00fcl eden 1918 $ diren\u00e7 seviyesi olarak takip edilebilir. Bu seviyenin yukar\u0131 y\u00f6nl\u00fc ge\u00e7ilmesi durumunda ise 1975 $ di\u011fer diren\u00e7 seviyesi olarak g\u00fcndeme gelebilir. Olas\u0131 geri \u00e7ekilmelerde ise Fibo % 38,2\u2019lik dilime tekab\u00fcl eden 1828 $ destek seviyesi olarak k\u0131sa ve orta vadede izlenebilir. Bu seviyenin a\u015fa\u011f\u0131 y\u00f6nl\u00fc ge\u00e7ilmesi durumunda ise 1772 $ di\u011fer destek seviyesi olarak g\u00fcndeme gelebilir. Teknik g\u00f6stergelerden, MACD pozitif b\u00f6lgede hareketine devam ederken, RSI 70 de\u011feri \u00fczerinde oldu\u011fu g\u00f6r\u00fclmektedir. B\u00fcy\u00fck resimde ise global piyasalarda g\u00fcndemin yo\u011fun ve oynakl\u0131\u011f\u0131n y\u00fcksek olmas\u0131 nedeniyle k\u0131ymetli metal ile ilgili temel tarafla geli\u015fmelerin yak\u0131ndan takip edilmesi gerekmektedir.<\/p>\n\n\n\n<p><strong><u>De\u011ferlendirme;<\/u><\/strong><\/p>\n\n\n\n<p>Yapm\u0131\u015f oldu\u011fumuz \u00e7al\u0131\u015fmam\u0131zda Dolar Y\u00fckselirse Alt\u0131n D\u00fc\u015fer mi? Dolar D\u00fc\u015ferse Alt\u0131n Y\u00fckselir mi? sorusuna cevap aramaya \u00e7al\u0131\u015ft\u0131k. \u0130ki enstr\u00fcman taraf\u0131nda fiyatlama davran\u0131\u015flar\u0131 bak\u0131m\u0131ndan farkl\u0131 i\u00e7 dinamiklere sahip oldu\u011fu ve ge\u00e7mi\u015fte var olan korelasyonun bozulmaya ba\u015flad\u0131\u011f\u0131 g\u00f6r\u00fcl\u00fcyor. Y\u0131l\u0131n geri kalan\u0131nda, h\u00fck\u00fcmetler\/merkez bankalar\u0131n\u0131n te\u015fvikler\/varl\u0131k al\u0131m programlar\u0131n\u0131n nas\u0131l evrilece\u011fi, global enflasyon taraf\u0131nda yukar\u0131 y\u00f6nl\u00fc risklerin g\u00fcndemde olmaya devam edece\u011fi, geli\u015fmi\u015f \u00fclke merkez bankalar\u0131n\u0131n enflasyon ve normalle\u015fme s\u00fcrecine y\u00f6nelik nas\u0131l ad\u0131mlar ataca\u011f\u0131, geli\u015fmi\u015f \u00fclkelerde ekonomilerin kademeli a\u00e7\u0131lmas\u0131na kar\u015f\u0131n di\u011fer \u00fclkelerde s\u00fcrecin nas\u0131l i\u015fleyece\u011fi, k\u00fcresel emtia piyasas\u0131nda fiyatlama davran\u0131\u015flar\u0131nda oynakl\u0131\u011f\u0131n nas\u0131l seyredece\u011fi, \u00fclkeler aras\u0131nda ikili ili\u015fkilerin nas\u0131l ilerleyece\u011fi, jeopolitik, siyasi ve diplomatik risklerin t\u00fcketici i\u015ftah\u0131 \u00fczerinde etkilerini, k\u0131ymetli metal fiyatlamalar\u0131 i\u00e7 dinamikleri taraf\u0131nda ba\u015fl\u0131ca ana fakt\u00f6rler olarak takip etmeye devam edece\u011fiz.<\/p>\n\n\n\n<p>Kaynak: INVESTAZ Ara\u015ft\u0131rma, Bloomberg, WGC ve Bloomberght<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dolar Y\u00fckselirse Alt\u0131n D\u00fc\u015fer mi? Dolar D\u00fc\u015ferse Alt\u0131n Y\u00fckselir mi? 2020 y\u0131l\u0131 itibari ile birlikte \u00c7in\u2019de ba\u015flayan ve daha sonras\u0131nda global bir soruna d\u00f6n\u00fc\u015fen COVID-19 salg\u0131n\u0131 ile birlikte bir \u00e7ok alanda bozulmalar\u0131n ya\u015fand\u0131\u011f\u0131 izlendi\/izlenmeye devam ediyor. Finansal piyasalar a\u00e7\u0131s\u0131ndan ise bakt\u0131\u011f\u0131m\u0131zda eskiye nazaran bilinen \u00fcr\u00fcnler aras\u0131nda fiyatlama davran\u0131\u015flar\u0131nda ayr\u0131\u015fmalar\u0131n oldu\u011funu g\u00f6rmekteyiz. COVID-19 d\u00f6nemi ile birlikte&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4504,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-3743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-makaleler"],"_links":{"self":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/3743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/comments?post=3743"}],"version-history":[{"count":4,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/3743\/revisions"}],"predecessor-version":[{"id":4011,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/3743\/revisions\/4011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media\/4504"}],"wp:attachment":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media?parent=3743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/categories?post=3743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/tags?post=3743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}