{"id":17537,"date":"2012-07-11T15:30:02","date_gmt":"2012-07-11T13:30:02","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=17537"},"modified":"2012-07-11T15:30:02","modified_gmt":"2012-07-11T13:30:02","slug":"rapor-altina-inandik","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/rapor-altina-inandik\/","title":{"rendered":"Rapor: Alt\u0131na \u0130nand\u0131k"},"content":{"rendered":"<p>&#8221;Alt\u0131na \u0130nand\u0131k&#8221; raporuna g\u00f6re 1980 y\u0131l\u0131nda Avrupa ve ABD&#8217;nin alt\u0131n talebinin k\u00fcresel talebin y\u00fczde 70&#8217;ine tekab\u00fcl etti\u011fi belirtilirken, \u015fu anda bu oran\u0131n ancak y\u00fczde 20&#8217;yi buldu\u011fu kaydedildi.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1985441073\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Erste Grup&#8217;un &#8221;Alt\u0131na \u0130nand\u0131k&#8221; raporuna g\u00f6re negatif reel faizin, alt\u0131n fiyatlar\u0131ndaki y\u00fckseli\u015fi tetikleyece\u011fi bildirildi. Alt\u0131n rezervlerinin her y\u0131l y\u00fczde 1,15 oran\u0131nda artt\u0131\u011f\u0131na de\u011finilen raporda, geli\u015fmekte olan piyasalar\u0131n k\u00fcresel alt\u0131n talebinin y\u00fczde 70&#8217;ini olu\u015fturdu\u011fu kaydedildi.<\/p>\n<p>Raporda, s\u0131f\u0131r faiz politikas\u0131n\u0131 en az 2014 y\u0131l\u0131na kadar s\u00fcrd\u00fcrmesi beklenen Amerika Merkez Bankas\u0131&#8217;n\u0131n bu politikas\u0131 sonucu reel faiz oranlar\u0131n\u0131n negatif olmaya devam edece\u011fi ve bu durumun alt\u0131n fiyatlar\u0131n\u0131n daha da yukar\u0131 \u00e7\u0131kmas\u0131na zemin haz\u0131rlayaca\u011f\u0131 \u00f6ng\u00f6r\u00fcld\u00fc. &#8221;Alt\u0131na \u0130nand\u0131k&#8221; Raporu&#8217;nda \u015fu de\u011ferlendirmeler yap\u0131ld\u0131:<\/p>\n<p>&#8221;Enflasyon d\u00f6nemlerinde gayrimenkul tercih edilen varl\u0131k t\u00fcr\u00fcyken, deflasyon d\u00f6neminde nakit tercih ediliyor. Alt\u0131n likittir, b\u00f6l\u00fcnebilir, dayan\u0131kl\u0131d\u0131r ve ta\u015f\u0131nmas\u0131 kolayd\u0131r. Ayn\u0131 zamanda \u015fu anda kar\u015f\u0131 kar\u015f\u0131ya oldu\u011fumuz b\u00fcy\u00fck &#8216;tail risk&#8217;ten (bir portf\u00f6ydeki varl\u0131\u011f\u0131n \u015fu andaki fiyat\u0131ndan 3 standart sapmadan daha fazla sapmas\u0131) kendini koruyabilen basit, sat\u0131n al\u0131nabilir, zaman i\u00e7erisinde kendini kan\u0131tlam\u0131\u015f ve g\u00fcvenli bir \u00fcr\u00fcnd\u00fcr. Dahas\u0131, alt\u0131n i\u00e7in k\u00fcresel bir pazar var ve temerr\u00fctte d\u00fc\u015fme riski yok; bu nedenle de alt\u0131n, gittik\u00e7e daha fazla y\u00fcksek nitelikli nakit olarak ve daha az ticari mal olarak g\u00f6r\u00fcl\u00fcyor. Bu durum da, alt\u0131n fiyatlar\u0131n\u0131 d\u00fczenli olarak y\u00fckseltmektedir.<\/p>\n<p>Y\u00fckselen pazarlardaki alt\u0131n a\u00e7l\u0131\u011f\u0131n\u0131n, alt\u0131n\u0131n fiyat\u0131n\u0131n y\u00fckselmesinden de sorumlu. 1980 y\u0131l\u0131nda Avrupa ve ABD&#8217;nin alt\u0131n talebi, k\u00fcresel talebin y\u00fczde 70&#8217;ine tekab\u00fcl ederken, \u015fu anda bu oran ancak y\u00fczde 20&#8217;yi buluyor.<\/p>\n<p>Son 5 y\u0131l i\u00e7erisinde, geli\u015fmekte olan piyasalardaki toplam alt\u0131n talebi y\u00fczde 70&#8217;e y\u00fckseldi. Talebin yar\u0131s\u0131ndan fazlas\u0131 \u00c7in ve Hindistan&#8217;dan geldi. Geli\u015fmekte olan pazarlardaki artan talep ve artan birikim oranlar\u0131n\u0131n, alt\u0131n\u0131n (\u00f6zellikle Hindistan&#8217;da) geleneksel olarak g\u00fc\u00e7l\u00fc \u00e7ekicili\u011fi haricinde, artan refah seviyesi ile de a\u00e7\u0131klanabilir.&#8221;<\/p>\n<p>ABD dolar\u0131n\u0131n bir para birimi olarak hegemonyas\u0131na y\u00f6nelik ele\u015ftirilerin artt\u0131\u011f\u0131 hat\u0131rlat\u0131lan raporda, &#8221;Anla\u015f\u0131lan o ki, pek \u00e7ok ulus kendisini, ABD dolar\u0131na olan k\u00f6leli\u011fe benzer ba\u011f\u0131ndan kurtarmak istiyor. \u00c7in, Rusya ve Hindistan, ayn\u0131 zamanda da Japonya, ABD dolar\u0131ndann ka\u00e7\u0131nmak i\u00e7in kendi para birimleriyle ya da ticari mallar\u0131yla kar\u015f\u0131l\u0131kl\u0131 ticaret yapmak i\u00e7in artan bir istek g\u00f6steriyor. ABD dolar\u0131n\u0131n 2\/3&#8217;\u00fcn\u00fcn yurt d\u0131\u015f\u0131nda bulundu\u011fu d\u00fc\u015f\u00fcn\u00fcld\u00fc\u011f\u00fcnde, bu durum a\u00e7\u0131k bir paradigma de\u011fi\u015fimi olarak ortaya \u00e7\u0131kmaktad\u0131r&#8221; denildi.<\/p>\n<p>Merkez bankalar\u0131n\u0131n da k\u00fcresel alt\u0131n e\u011filimini takip etti\u011fine i\u015faret edilen raporda, Uluslararas\u0131 Para Fonu&#8217;na (IMF) g\u00f6re, y\u00fczde 61,7 gibi b\u00fcy\u00fck bir pay ile ABD dolar\u0131n\u0131n halen t\u00fcm k\u00fcresel para birimi rezervlerinin en b\u00fcy\u00fc\u011f\u00fc oldu\u011fu belirtiliyor. Buna kar\u015f\u0131l\u0131k avronun oran\u0131n\u0131n y\u00fczde 27,5, di\u011fer para birimleri ve alt\u0131n\u0131n oran\u0131n\u0131n ise y\u00fczde 12,6 oldu\u011funa i\u015faret ediliyor.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-4275107817\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Haberin devam\u0131 i\u00e7in <strong><a href=\"http:\/\/www.bloomberght.com\/haberler\/haber\/1179727-rapor-altina-inandik\" target=\"_blank\" data-wpel-link=\"external\" rel=\"nofollow external noopener\">BLOOMBERGHT<\/a>\u00a0<\/strong>yi ziyaret ediniz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221;Alt\u0131na \u0130nand\u0131k&#8221; raporuna g\u00f6re 1980 y\u0131l\u0131nda Avrupa ve ABD&#8217;nin alt\u0131n talebinin k\u00fcresel talebin y\u00fczde 70&#8217;ine tekab\u00fcl etti\u011fi belirtilirken, \u015fu anda bu oran\u0131n ancak y\u00fczde 20&#8217;yi&hellip;<\/p>\n","protected":false},"author":2,"featured_media":6291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/17537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=17537"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/17537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/6291"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=17537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=17537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=17537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}