<\/p>\n
\n\tNisan ay\u0131ndan bu yana y\u00fczde 25\u2019in \u00fczerinde de\u011fer kazanan alt\u0131n, ABD Ba\u015fkan\u0131 Donald Trump\u2019\u0131n ticaret dengesini sarsan yeni g\u00fcmr\u00fck tarifelerini a\u00e7\u0131klamas\u0131n\u0131n ard\u0131ndan 1970\u2019lerden bu yana en h\u0131zl\u0131 y\u00fckseli\u015fini kaydetti.<\/p>\n
\n\tUzmanlara g\u00f6re, ABD\u2019de kamu harcamalar\u0131 konusunda ya\u015fanan t\u0131kan\u0131kl\u0131k nedeniyle h\u00fck\u00fcmetin ikinci haftas\u0131na giren kapanma s\u00fcreci ve bunun ekonomik veri ak\u0131\u015f\u0131n\u0131 aksatmas\u0131 da yat\u0131r\u0131mc\u0131lar\u0131 tedirgin ediyor.<\/p>\n
\n\tAlt\u0131n, piyasalarda \u201cg\u00fcvenli liman\u201d olarak g\u00f6r\u00fcl\u00fcyor. De\u011ferli metalin spot fiyat\u0131 \u2014 yani elden sat\u0131\u015fta ge\u00e7erli olan anl\u0131k fiyat \u2014 Asya piyasalar\u0131nda \u00e7ar\u015famba sabah\u0131 4 bin 11 dolar\u0131n \u00fczerine \u00e7\u0131kt\u0131.<\/p>\n
\n\tVadeli alt\u0131n kontratlar\u0131 da ayn\u0131 seviyeye ula\u015ft\u0131. Piyasa duyarl\u0131l\u0131\u011f\u0131n\u0131 g\u00f6steren bu kontratlar, gelecekte belirlenen tarihte al\u0131m-sat\u0131m yap\u0131lmas\u0131n\u0131 \u00f6ng\u00f6r\u00fcyor.<\/p>\n
\n\tOCBC Bankas\u0131\u2019n\u0131n Singapur merkezli stratejisti Christopher Wong, h\u00fck\u00fcmetin kapanmas\u0131n\u0131n \u201calt\u0131n fiyatlar\u0131 i\u00e7in destekleyici bir etken\u201d oldu\u011funu belirtti. Wong, \u00f6nceki h\u00fck\u00fcmet kapanmalar\u0131nda da yat\u0131r\u0131mc\u0131lar\u0131n alt\u0131na y\u00f6neldi\u011fini hat\u0131rlatt\u0131.<\/p>\n
\n\tTrump\u2019\u0131n ilk d\u00f6neminde ya\u015fanan bir ayl\u0131k kapanma s\u00fcrecinde alt\u0131n yakla\u015f\u0131k y\u00fczde 4 de\u011fer kazanm\u0131\u015ft\u0131. Ancak Wong\u2019a g\u00f6re kapanman\u0131n beklenenden erken sona ermesi fiyatlarda gerilemeye yol a\u00e7abilir.<\/p>\n
\n\tUOB Bankas\u0131 Piyasalar Strateji Ba\u015fkan\u0131 Heng Koon How, son bir aydaki \u201cemsali g\u00f6r\u00fclmemi\u015f y\u00fckseli\u015fin\u201d analist tahminlerini geride b\u0131rakt\u0131\u011f\u0131n\u0131 s\u00f6yledi. Heng\u2019e g\u00f6re bu art\u0131\u015f, zay\u0131flayan ABD dolar\u0131yla ve bireysel yat\u0131r\u0131mc\u0131lar\u0131n artan ilgisiyle yak\u0131ndan ba\u011flant\u0131l\u0131.<\/p>\n
\n\tDe\u011ferli metaller al\u0131m-sat\u0131m ve saklama hizmeti veren Silver Bullion\u2019un kurucusu Gregor Gregersen, m\u00fc\u015fteri say\u0131lar\u0131n\u0131n son bir y\u0131lda iki kattan fazla artt\u0131\u011f\u0131n\u0131 belirtti. Gregersen, \u201cM\u00fc\u015fterilerimizin \u00e7o\u011fu uzun vadeli yat\u0131r\u0131mc\u0131. Alt\u0131nlar\u0131n\u0131 genellikle d\u00f6rt y\u0131ldan uzun s\u00fcre sakl\u0131yorlar,\u201d dedi.<\/p>\n
\n\tGregersen, fiyatlar\u0131n zaman zaman d\u00fc\u015febilece\u011fini ancak mevcut ekonomik ortamda \u201c\u00f6n\u00fcm\u00fczdeki en az be\u015f y\u0131l boyunca y\u00fckseli\u015f trendinin s\u00fcrece\u011fini\u201d ifade etti.<\/p>\n
\n\tOCBC\u2019den Wong, faiz oranlar\u0131nda art\u0131\u015f ya da jeopolitik gerilimlerin azalmas\u0131 h\u00e2linde alt\u0131n\u0131n de\u011fer kaybedebilece\u011fini hat\u0131rlatt\u0131. Nisan ay\u0131nda Trump\u2019\u0131n ABD Merkez Bankas\u0131 (Fed) Ba\u015fkan\u0131 Jerome Powell\u2019\u0131 g\u00f6revden alma fikrinden vazge\u00e7mesi sonras\u0131 alt\u0131n fiyatlar\u0131 yakla\u015f\u0131k y\u00fczde 6 d\u00fc\u015fm\u00fc\u015ft\u00fc.<\/p>\n
\n\tUOB\u2019den Heng ise alt\u0131n rallisinin \u00f6n\u00fcndeki en b\u00fcy\u00fck riskin \u201cenflasyonun yeniden h\u0131z kazanmas\u0131\u201d oldu\u011funu belirtti. B\u00f6yle bir durumda Fed\u2019in faiz art\u0131rmak zorunda kalabilece\u011fini, bunun da alt\u0131na olan ilgiyi azaltaca\u011f\u0131n\u0131 s\u00f6yledi.<\/p>\n
\n\tYat\u0131r\u0131mc\u0131lar, Fed\u2019in faiz indirimine gidece\u011fi beklentisiyle alt\u0131na y\u00f6neliyor. Bu da faiz getirisi olmayan alt\u0131n\u0131 daha cazip h\u00e2le getiriyor.<\/p>\n
\n\tBu s\u00fcre\u00e7te Trump\u2019\u0131n Fed \u00fczerindeki bask\u0131s\u0131n\u0131 art\u0131rmas\u0131 da dikkat \u00e7ekiyor. Ba\u015fkan, Powell\u2019\u0131 faizleri yeterince h\u0131zl\u0131 indirmemekle su\u00e7lad\u0131 ve Fed Y\u00f6netim Kurulu \u00dcyesi Lisa Cook\u2019u g\u00f6revden alma giri\u015fiminde bulundu.<\/p>\n
\n\tWong, Trump\u2019\u0131n bu tutumunun \u201cFed\u2019in enflasyon hedefli ba\u011f\u0131ms\u0131z bir kurum olarak g\u00fcvenilirli\u011fini zedeleyebilece\u011fini\u201d s\u00f6yledi.<\/p>\n
\n\tB\u00f6yle bir ortamda, alt\u0131n\u0131n belirsizliklere kar\u015f\u0131 koruma sa\u011flayan bir yat\u0131r\u0131m arac\u0131 olarak \u201cyeniden \u00f6nem kazand\u0131\u011f\u0131n\u0131\u201d vurgulad\u0131.<\/p>\n