Altın (XAUUSD) Fundamentals: What Actually Moves the Fiyat

The 4 things that actually move Altın

1. Real yields

Altın pays no interest. Ne zaman real yields (10Y Treasury minus inflation expectations) rise, Altın gets relatively daha expensive to hold — Altın falls. Ne zaman real yields fall negative, Altın rallies.

2. USD strength

Altın is priced in USD globally. A weaker dollar makes Altın cheaper for non-USD buyers, increasing demand. Watch DXY (dollar index) inversely against Altın.

3. Geopolitical risk

Wars, sanctions, election risk — when uncertainty rises, Altın catches a bid as a hedge. Sharp spike events (Russia 2022, Israel 2023, Iran 2024) all produced multi-week rallies.

4. Central bank flows

Since 2022, central banks (China, Russia, India, Turkey) have been net buyers of Altın to diversify reserves away Kaynak USD. Quarterly WGC reports show the pace.

İşlem Altın smartly

Altın spreads vary wildly by broker — some quote 30c, some 80c. ShaFX has a dedicated XAUUSD calculator (/tools/xauusd-calculator) and broker comparison filtered for Altın-friendly accounts.