D\u00fcnya Alt\u0131n Kurulu (WGC) K\u00fcresel Ara\u015ft\u0131rma Ba\u015fkan\u0131 Juan Carlos Artigas, CNBC-e ‘de a\u00e7\u0131klamalarda bulundu. Venezuela\u2019da ya\u015fanan son geli\u015fmelerle birlikte 2026\u2019ya jeopolitik risklerle ba\u015fland\u0131\u011f\u0131n\u0131 hat\u0131rlatan Artigas, Jeopolitik Risk Endeksi (GPR) \u00fczerinden yap\u0131lan tahlillere nazaran, endeksteki 100 puanl\u0131k art\u0131\u015f\u0131n alt\u0131n fiyatlar\u0131nda k\u0131sa vadede yakla\u015f\u0131k y\u00fczde 2,5 oran\u0131nda y\u00fckseli\u015fe yol a\u00e7t\u0131\u011f\u0131n\u0131 belirtti. Artigas’tan dikkat al\u0131ml\u0131 bir T\u00fcrkiye de\u011ferlendirmesi geldi.<\/p>\n
T\u00dcRK\u0130YE 5. SIRADA<\/b><\/p>\n
Artigas T\u00fcrkiye\u2019nin alt\u0131n piyasas\u0131nda \u00f6zel bir yere sahip oldu\u011funu vurgulayarak \u015funlar\u0131 s\u00f6yledi:<\/p>\n
\u201cT\u00fcrkiye, \u00c7in, Hindistan ve ABD \u00fczere \u00fclkelere k\u0131yasla \u00f6l\u00e7ek olarak \u00e7ok daha k\u00fc\u00e7\u00fck olmas\u0131na kar\u015f\u0131n, d\u00fcnyada alt\u0131n talebinin en g\u00fc\u00e7l\u00fc oldu\u011fu \u00fclkelerden biri. Bunun gerisinde g\u00fc\u00e7l\u00fc bir k\u00fclt\u00fcrel ba\u011f ve alt\u0131n\u0131n kur, enflasyon ve belirsizliklere kar\u015f\u0131 birikim arac\u0131 olarak g\u00f6r\u00fclmesi var.\u201d<\/p>\n
Artigas, alt\u0131n rezervinde T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131\u2019n\u0131n (TCMB) d\u00fcnyada birinci 10\u201311 ortas\u0131nda yer ald\u0131\u011f\u0131n\u0131, 2025\u2019te ise en b\u00fcy\u00fck be\u015f al\u0131c\u0131dan biri oldu\u011funu belirtti.<\/p>\n
Bankac\u0131l\u0131k sisteminde sermaye alt\u0131n\u0131n kullan\u0131labilmesinin T\u00fcrkiye\u2019yi \u00f6teki \u00fclkelerden ay\u0131ran bir fakt\u00f6r oldu\u011funu s\u00f6z eden Artigas, \u201cMerkez Bankas\u0131 yaln\u0131zca rezervlerini tutmakla kalm\u0131yor, t\u0131pk\u0131 vakitte T\u00fcrkiye’deki bankac\u0131l\u0131k sistemiyle \u00e7ok yak\u0131n \u00e7al\u0131\u015farak alt\u0131n\u0131 T\u00fcrk finans sisteminin bu kadar k\u0131ymetli bir bile\u015feni haline getiriyor\u201d formunda konu\u015ftu.<\/p>\n
T\u00dcRK\u0130YE’DEK\u0130 YASTIK ALTIN M\u0130KTARI<\/b><\/p>\n
T\u00fcrkiye\u2019deki yast\u0131k alt\u0131 alt\u0131n \u00f6l\u00e7\u00fcs\u00fc ile ilgili say\u0131 vermeyen Artigas, d\u00fcnya genelinde yer \u00fcst\u00fcndeki alt\u0131n stoklar\u0131n\u0131n yakla\u015f\u0131k be\u015fte birinin bireylerin direkt m\u00fclkiyetinde bulundu\u011funu s\u00f6yleyerek, \u015funlar\u0131 tabir etti:<\/p>\n
\u201cBu alt\u0131n\u0131n tamam\u0131 yast\u0131k alt\u0131nda de\u011fil; bir k\u0131sm\u0131 \u00f6zel kasalarda ya da bankalarda da tutuluyor. Lakin global alt\u0131n stoklar\u0131n\u0131n yakla\u015f\u0131k y\u00fczde 17\u201320\u2019si direkt bireylerin m\u00fclkiyetinde ve ferdi sahiplik, alt\u0131n\u0131n global talep yap\u0131s\u0131n\u0131n hala \u00e7ok de\u011ferli bir kesimi.\u201d<\/p>\n
Artigas, \u201cfiziksel alt\u0131ndan dijital alt\u0131na ge\u00e7i\u015fin\u201d h\u0131zlanmas\u0131na y\u00f6nelik de \u015fu s\u00f6zleri kulland\u0131:<\/strong><\/p>\n \u201cDijital alt\u0131ndan ne kastedildi\u011fine ba\u011fl\u0131. Token bazl\u0131 eserler hala \u00e7ok erken evrede. Lakin yat\u0131r\u0131mc\u0131lar, alt\u0131na eri\u015fmek i\u00e7in uzun m\u00fcddettir fiziki alt\u0131nla desteklenen finansal eserleri kullan\u0131yor. Bug\u00fcn d\u00fcnyada 120\u2019den fazla alt\u0131n dayanakl\u0131 ETF var; bunlar\u0131n bir k\u0131sm\u0131 T\u00fcrkiye\u2019de de s\u00fcre\u00e7 g\u00f6r\u00fcyor ve bu fonlar toplamda yakla\u015f\u0131k 4 bin ton fiziki alt\u0131n tutuyor.\u201d<\/p>\n “JEOPOL\u0130T\u0130K R\u0130SK ALTINA DAYANAK VER\u0130YOR”<\/b><\/p>\n Artigas, jeopolitik geli\u015fmelerin alt\u0131n \u00fczerindeki tesiri sadece anl\u0131k fiyat reaksiyonlar\u0131yla hudutlu olmad\u0131\u011f\u0131n\u0131 belirtirken, \u201cE\u011fer ya\u015fanan \u015foklar global iktisat, ticaret ak\u0131\u015flar\u0131 ya da finansal piyasalar \u00fczerinde kal\u0131c\u0131 tesirler yarat\u0131yorsa, alt\u0131n \u00fczerindeki dayanak de daha uzun soluklu oluyor\u201d dedi.<\/p>\n Son birka\u00e7 y\u0131lda alt\u0131n\u0131n g\u00fc\u00e7l\u00fc performans\u0131nda jeopoliti\u011fin belirleyici rol oynad\u0131\u011f\u0131n\u0131 tabir eden Artigas, alt\u0131n\u0131n g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc belirleyen d\u00f6rt ana fakt\u00f6re dikkat \u00e7ekti:<\/p>\n WGC K\u00fcresel Ara\u015ft\u0131rma Ba\u015fkan\u0131 Artigas, jeopoliti\u011fin yan\u0131 s\u0131ra, 2025\u2019te oldu\u011fu \u00fczere daha d\u00fc\u015f\u00fck faiz ortam\u0131n\u0131n da bilhassa yat\u0131r\u0131m maksatl\u0131 alt\u0131n talebini destekledi\u011fini s\u00f6yledi.<\/p>\n “1971’DEN BER\u0130 EN G\u00dc\u00c7L\u00dc Y\u00dcKSEL\u0130\u015e”<\/b><\/p>\n 2025\u2019te alt\u0131n fiyatlar\u0131n\u0131n y\u00fczde 67 artarak 1971\u2019den bu yana en g\u00fc\u00e7l\u00fc y\u0131llardan birini geride b\u0131rakt\u0131\u011f\u0131n\u0131 hat\u0131rlatan Artigas, buna kar\u015f\u0131n alt\u0131n\u0131n portf\u00f6ylerdeki rol\u00fcn\u00fc yitirmedi\u011fini \u015fu s\u00f6zlerle vurgulad\u0131:<\/p>\n \u201cTahvil ve pay senetleri ortas\u0131ndaki korelasyon y\u00fckseldi. Bu da yat\u0131r\u0131mc\u0131lar\u0131 tekrar alt\u0131n \u00fczere dengeleyici varl\u0131klara y\u00f6neltiyor. \u00dcstelik alt\u0131n yat\u0131r\u0131m piyasas\u0131 hala doygun de\u011fil; Covid periyodu ya da global finans krizi d\u00fczeylerine ula\u015fm\u0131\u015f de\u011filiz.\u201d<\/p>\n ALTIN F\u0130YATLARINA Y\u00d6NEL\u0130K 3 SENARYO<\/b><\/p>\n D\u00fcnya Alt\u0131n Konseyi\u2019nin direkt fiyat kestirimi yapmad\u0131\u011f\u0131n\u0131 belirten Artigas, farkl\u0131 makro senaryolara nazaran alt\u0131n\u0131n performans\u0131 beklentilerini \u015fu formda aktard\u0131:<\/p>\n \u201cABD iktisad\u0131nda yava\u015flama ve finansal risklerin artmas\u0131 halinde fiyatlar y\u00fczde 10\u201315 daha artabilir. Global \u00e7apta resesyon ya da yayg\u0131n jeopolitik gerilim senaryosunda ise y\u00fczde 30\u2019a varan getiriler m\u00fcmk\u00fcn. Buna kar\u015f\u0131l\u0131k risklerin s\u00fcratle azalmas\u0131 yahut faizlerin y\u00fckselmesi durumunda alt\u0131nda y\u00fczde 20\u2019ye varan a\u015fa\u011f\u0131 istikametli bask\u0131 da olu\u015fabilir. Bu nitekim makroekonomik \u015fartlar\u0131n nas\u0131l geli\u015fece\u011fine ba\u011fl\u0131. Lakin alt\u0131n fiyatlar\u0131n\u0131n bu ortamda \u00e7ift haneli getiri sa\u011flayabilece\u011fi durumlar ve olaylar var.\u201d<\/p>\n Alt\u0131n\u0131n inan\u00e7l\u0131 liman rol\u00fcn\u00fcn kripto varl\u0131klar taraf\u0131ndan tehdit edildi\u011fi g\u00f6r\u00fc\u015f\u00fcne kat\u0131lmad\u0131\u011f\u0131n\u0131 s\u00f6yleyen Artigas , \u201cAlt\u0131n\u0131n talep yap\u0131s\u0131 \u00e7ok daha istikrarl\u0131. Yat\u0131r\u0131m\u0131n yan\u0131 s\u0131ra m\u00fccevher ve elektronik \u00fczere ger\u00e7ek kullan\u0131m alanlar\u0131 var. Bu yap\u0131, alt\u0131n\u0131 \u00f6teki varl\u0131klardan temelden ay\u0131r\u0131yor\u201d de\u011ferlendirmesinde bulundu.<\/p>\n *BU HABERDE YER ALAN S\u00d6ZLER YATIRIM TAVS\u0130YES\u0130 DE\u011e\u0130LD\u0130R.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Alt\u0131n fiyatlar\u0131, artan jeopolitik riskler ve d\u00fc\u015f\u00fck faiz beklentileriyle y\u00fckseli\u015fini s\u00fcrd\u00fcr\u00fcrken, D\u00fcnya Alt\u0131n Kurulu T\u00fcrkiye\u2019nin global alt\u0131n talebinde birinci 5 \u00fclke ortas\u0131nda yer ald\u0131\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131. Artigas, belirsizlik ortam\u0131n\u0131n alt\u0131n\u0131 yine g\u00fc\u00e7l\u00fc bir inan\u00e7l\u0131 liman haline getirdi\u011fine dikkat \u00e7ekti.<\/p>\n","protected":false},"author":1,"featured_media":86946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[782,394,1497,113,360],"class_list":["post-86945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-altin","tag-fiyat","tag-kuresel","tag-turkiye","tag-yatirim"],"_links":{"self":[{"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/posts\/86945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/comments?post=86945"}],"version-history":[{"count":1,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/posts\/86945\/revisions"}],"predecessor-version":[{"id":86947,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/posts\/86945\/revisions\/86947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/media\/86946"}],"wp:attachment":[{"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/media?parent=86945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/categories?post=86945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ikimisli.tr\/index.php\/wp-json\/wp\/v2\/tags?post=86945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}