{"id":208719,"date":"2026-05-18T15:30:40","date_gmt":"2026-05-18T12:30:40","guid":{"rendered":"https:\/\/coinmuhendisi.com\/blog\/?p=208719"},"modified":"2026-05-18T09:53:51","modified_gmt":"2026-05-18T06:53:51","slug":"dev-bankadan-altin-icin-kritik-uyari-tahminler-asagi-cekildi","status":"publish","type":"post","link":"https:\/\/coinmuhendisi.com\/blog\/dev-bankadan-altin-icin-kritik-uyari-tahminler-asagi-cekildi\/","title":{"rendered":"Dev Bankadan Alt\u0131n \u0130\u00e7in Kritik Uyar\u0131: Tahminler A\u015fa\u011f\u0131 \u00c7ekildi!"},"content":{"rendered":"

K\u00fcresel piyasalarda alt\u0131n<\/strong> fiyatlar\u0131na y\u00f6nelik beklentiler yeniden \u015fekilleniyor. ABD\u2019li yat\u0131r\u0131m bankas\u0131 JPMorgan Chase<\/strong>, yat\u0131r\u0131mc\u0131 talebindeki zay\u0131flama nedeniyle 2026 y\u0131l\u0131 ortalama alt\u0131n fiyat\u0131 tahminini a\u015fa\u011f\u0131 y\u00f6nl\u00fc revize etti. Banka, ons alt\u0131n i\u00e7in daha \u00f6nce a\u00e7\u0131klad\u0131\u011f\u0131 5 bin 708 dolarl\u0131k beklentisini 5 bin 243 dolara d\u00fc\u015f\u00fcrd\u00fc. Analistler, alt\u0131n piyasas\u0131nda i\u015flem hacimlerinin zay\u0131flad\u0131\u011f\u0131n\u0131 ve yat\u0131r\u0131mc\u0131 ilgisinin ciddi \u015fekilde azald\u0131\u011f\u0131n\u0131 belirtirken, k\u0131sa vadeli bask\u0131ya ra\u011fmen uzun vadede y\u00fckseli\u015f beklentisinin s\u00fcrd\u00fc\u011f\u00fcn\u00fc ifade ediyor.<\/p>\n

JPMorgan\u2019dan Alt\u0131n \u0130\u00e7in Yeni Tahmin<\/h2>\n

JPMorgan taraf\u0131ndan yay\u0131mlanan analiz notunda, alt\u0131n piyasas\u0131nda yat\u0131r\u0131mc\u0131 talebinin son d\u00f6nemde belirgin \u015fekilde zay\u0131flad\u0131\u011f\u0131 vurguland\u0131. Banka analistleri, piyasadaki yat\u0131r\u0131mc\u0131 ilgisinin \u201cneredeyse kurudu\u011funu\u201d ifade ederek \u00f6zellikle vadeli i\u015flem piyasalar\u0131nda hacimlerin d\u00fc\u015f\u00fck kald\u0131\u011f\u0131na dikkat \u00e7ekti. Raporda, COMEX alt\u0131n vadeli i\u015flemlerindeki a\u00e7\u0131k pozisyonlar\u0131n zay\u0131f seyretti\u011fi, fon y\u00f6neticilerinin pozisyonlar\u0131n\u0131 art\u0131rmad\u0131\u011f\u0131 ve ETF taraf\u0131ndaki giri\u015flerin s\u0131n\u0131rl\u0131 kald\u0131\u011f\u0131 belirtildi. Bu geli\u015fmeler do\u011frultusunda JPMorgan, 2026 y\u0131l\u0131 ortalama ons alt\u0131n tahminini 5 bin 243 dolara \u00e7ekti.<\/p>\n

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\u0130lginizi \u00c7ekebilir: Bitcoin 77 Bin Dolar\u0131n Alt\u0131na D\u00fc\u015ft\u00fc: Piyasada Sat\u0131\u015f Dalgas\u0131!<\/a><\/em><\/p>\n

Alt\u0131n fiyatlar\u0131 son d\u00f6nemde petrol fiyatlar\u0131ndaki y\u00fckseli\u015f ve faiz bask\u0131s\u0131 nedeniyle zorlu bir s\u00fcre\u00e7ten ge\u00e7iyor. \u00d6zellikle ABD-\u0130ran geriliminin ard\u0131ndan artan enerji maliyetleri, k\u00fcresel enflasyon endi\u015felerini yeniden art\u0131rd\u0131. Uzmanlara g\u00f6re y\u00fcksek enflasyon beklentisi, ABD Merkez Bankas\u0131\u2019n\u0131n faizleri uzun s\u00fcre y\u00fcksek tutabilece\u011fi g\u00f6r\u00fc\u015f\u00fcn\u00fc g\u00fc\u00e7lendiriyor. Bu durum ise faiz getirisi olmayan alt\u0131n\u0131n yat\u0131r\u0131m cazibesini azalt\u0131yor. Tahvil piyasalar\u0131nda ya\u015fanan sert sat\u0131\u015f dalgas\u0131 da alt\u0131n fiyatlar\u0131 \u00fczerinde ek bask\u0131 olu\u015fturdu. Spot alt\u0131n g\u00fcn i\u00e7erisinde 30 Mart\u2019tan bu yana en d\u00fc\u015f\u00fck seviyesine kadar geriledi.<\/p>\n

JPMorgan Uzun Vadede Hala \u0130yimser<\/h2>\n

Tahminini a\u015fa\u011f\u0131 \u00e7ekmesine ra\u011fmen JPMorgan, alt\u0131n konusunda uzun vadeli y\u00fckseli\u015f beklentisini koruyor. Banka analistleri, enerji piyasalar\u0131ndaki belirsizliklerin azalmas\u0131 ve enflasyon bask\u0131s\u0131n\u0131n kontrol alt\u0131na al\u0131nmas\u0131n\u0131n ard\u0131ndan yat\u0131r\u0131mc\u0131 talebinin yeniden g\u00fc\u00e7lenebilece\u011fini d\u00fc\u015f\u00fcn\u00fcyor. Analizde, merkez bankalar\u0131n\u0131n alt\u0131n al\u0131mlar\u0131n\u0131n devam edebilece\u011fi ve g\u00fcvenli liman talebinin yeniden artabilece\u011fi ifade edildi. Uzmanlara g\u00f6re \u00f6zellikle k\u00fcresel ekonomide ya\u015fanabilecek yava\u015flama, jeopolitik risklerin s\u00fcrmesi ve merkez bankalar\u0131n\u0131n rezerv \u00e7e\u015fitlendirme politikalar\u0131 alt\u0131n fiyatlar\u0131n\u0131 destekleyebilir.<\/p>\n

JPMorgan analistleri, k\u0131sa vadede faiz bask\u0131s\u0131n\u0131n etkili oldu\u011funu ancak orta ve uzun vadede alt\u0131n\u0131n g\u00fc\u00e7l\u00fc g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc korudu\u011funu belirtiyor. Bu nedenle JPMorgan, ons alt\u0131n\u0131n 2026 y\u0131l\u0131n\u0131n ikinci yar\u0131s\u0131nda yeniden y\u00fckseli\u015fe ge\u00e7erek y\u0131l sonuna do\u011fru 6 bin dolar seviyesine yakla\u015fabilece\u011fini \u00f6ng\u00f6r\u00fcyor. Banka, yat\u0131r\u0131mc\u0131 ilgisinin yeniden artmas\u0131 halinde alt\u0131n piyasas\u0131nda yeni rekor seviyelerin g\u00f6r\u00fclebilece\u011fini d\u00fc\u015f\u00fcn\u00fcyor.<\/p>\n

Di\u011fer Dev Bankalar\u0131n Alt\u0131n Tahminleri<\/h2>\n

K\u00fcresel finans kurulu\u015flar\u0131n\u0131n alt\u0131n beklentileri aras\u0131nda dikkat \u00e7eken farkl\u0131l\u0131klar bulunuyor. Baz\u0131 b\u00fcy\u00fck bankalar alt\u0131n fiyatlar\u0131nda g\u00fc\u00e7l\u00fc y\u00fckseli\u015f beklerken, baz\u0131 kurumlar ise daha temkinli tahminler payla\u015f\u0131yor. \u00d6zellikle k\u00fcresel enflasyon, Fed politikalar\u0131 ve jeopolitik riskler, bankalar\u0131n alt\u0131n tahminlerinde belirleyici rol oynuyor. 2026 y\u0131l\u0131 i\u00e7in \u00f6ne \u00e7\u0131kan alt\u0131n tahminleri ise \u015fu \u015fekilde s\u0131ralan\u0131yor:<\/p>\n