Aizvad\u012bt\u0101 gada p\u0113d\u0113j\u0101 m\u0113nes\u012b akciju tirgi sv\u0101rst\u012bj\u0101s, un m\u0113ne\u0161a rezult\u0101ts neatbilda ierasti optimistiskajam v\u0113sturiskajam sniegumam. Tom\u0113r m\u0113ne\u0161a beig\u0101s daudzu akciju cenas pieauga, pastiprinot optimistisk\u0101s gaidas attiec\u012bb\u0101 uz 2026. gadu. Ar\u012b debates \u201ckas ir lab\u0101ks \u2013 \u012bsts zelts vai kripto \u201czelts\u201d?\u201d ir atliktas uz 2026. gadu: decembr\u012b Bitcoin cena samazin\u0101j\u0101s, bet zelta un sudraba v\u0113rt\u012bba pieauga.<\/p>\n
Neitr\u0101lais decembris<\/p>\n
Decembr\u012b p\u0101rmai\u0146as finan\u0161u tirgos bija nelielas: eiro izteiksm\u0113 pasaules akciju indekss pazemin\u0101j\u0101s par 0,2%, savuk\u0101rt oblig\u0101ciju indekss \u2013 par 0,4%. Atsevi\u0161\u0137u akt\u012bvu vid\u016b izc\u0113l\u0101s sudrabs, kura v\u0113rt\u012bba pieauga par 25 %, savuk\u0101rt Bitcoin v\u0113rt\u012bba samazin\u0101j\u0101s par aptuveni 5 %. Centr\u0101lo banku \u012bstenotie pas\u0101kumi atkal at\u0161\u0137\u012br\u0101s: ASV Feder\u0101lo rezervju sist\u0113ma samazin\u0101ja procentu likmes, Eiropas Centr\u0101l\u0101 banka t\u0101s atst\u0101ja nemain\u012bgas, bet Jap\u0101na \u2013 palielin\u0101ja. Maz ticams, ka 2026. gad\u0101 monet\u0101r\u0101 politika b\u016btiski main\u012bsies: tirgi sagaida, ka FED v\u0113l p\u0101ris reizes samazin\u0101s likmes l\u012bdz aptuveni 3 %, ECB saglab\u0101s pa\u0161reiz\u0113jo l\u012bmeni tuvu 2 %, savuk\u0101rt Jap\u0101nas Banka v\u0113l vienu vai divas reizes palielin\u0101s likmes.<\/p>\n
Atskatoties atpaka\u013c<\/p>\n
2025. gads neb\u016bt nebija mier\u012bgs. Galven\u0101s t\u0113mas bija saist\u012btas ar ASV prezidenta Donalda Trampa jaun\u0101 pilnvaru termi\u0146a akt\u012bvo un bie\u017ei vien neprognoz\u0113jamo s\u0101kumu, ats\u0101ku\u0161os dro\u0161u akt\u012bvu mekl\u0113jumus (zeltam un, jo \u012bpa\u0161i, sudrabam p\u0101rsp\u0113jot kriptonaudas r\u0101d\u012bt\u0101jus) un straujo \u2014 iesp\u0113jams, burbulim l\u012bdz\u012bgo \u2014 m\u0101ksl\u012bg\u0101 intelekta tehnolo\u0123iju izaugsmi.<\/p>\n
Jau no pirmaj\u0101m prezident\u016bras dien\u0101m Tramps \u012bstenoja izmai\u0146as starptautiskaj\u0101 tirdzniec\u012bb\u0101, pazi\u0146ojot par papildu tarifiem daudz\u0101m valst\u012bm un import\u0113taj\u0101m prec\u0113m. Tom\u0113r p\u0113c agres\u012bva s\u0101kuma un strauja akciju v\u0113rt\u012bbas krituma vi\u0146a tonis un politika k\u013cuva maig\u0101ka: tarifi tika atlikti vai samazin\u0101ti, un l\u012bdz gada beig\u0101m uzsvars arvien vair\u0101k tika likts uz kompromisu mekl\u0113\u0161anu, nevis konfront\u0101ciju. T\u0101 rezult\u0101t\u0101 akciju tirgi, kas mart\u0101 un apr\u012bl\u012b bija piedz\u012bvoju\u0161i lejupsl\u012bdi par aptuveni 20 %, \u0101tri atguv\u0101s un gadu nosl\u0113dza ar 7,9 % pe\u013c\u0146u eiro izteiksm\u0113 (kas bija tuvu gada s\u0101kuma visp\u0101r\u0113j\u0101m prognoz\u0113m). Tom\u0113r Trampa neprognoz\u0113jam\u012bba, FED priek\u0161s\u0113d\u0113t\u0101ja D\u017eeroma Pauela virzien\u0101 paust\u0101 kritika un m\u0113\u0123in\u0101jumi ietekm\u0113t monet\u0101ro politiku ietekm\u0113ja ASV dol\u0101ra kursu, kas attiec\u012bb\u0101 pret eiro samazin\u0101j\u0101s par aptuveni 13 %. Dol\u0101ra v\u0113rt\u012bbas kritums da\u013c\u0113ji samazin\u0101ja eiro b\u0101z\u0113tu ieguld\u012bt\u0101ju pe\u013c\u0146u no ASV akcij\u0101m, kas ASV dol\u0101ru izteiksm\u0113 sasniedza iespaid\u012bgu 17,9 % ienes\u012bgumu.<\/p>\n
Tikm\u0113r v\u0101j\u0101ks dol\u0101rs, pieaugo\u0161ais valsts par\u0101ds un \u0123eopolitisk\u0101 spriedze mudin\u0101ja ieguld\u012bt\u0101jus piev\u0113rsties tradicion\u0101lajiem dro\u0161ajiem akt\u012bviem. L\u012bdz gada vidum Bitcoin, zelts un sudrabs piedz\u012bvoja l\u012bdz\u012bgu k\u0101pumu (aptuveni 25 %), bet gada beig\u0101s uztic\u012bba kriptotehnolo\u0123ij\u0101m mazin\u0101j\u0101s, kam\u0113r piepras\u012bjums p\u0113c d\u0101rgmet\u0101liem pieauga. T\u0101 rezult\u0101t\u0101 2025. gads k\u013cuva par tradicion\u0101lo met\u0101lu preferences atjauno\u0161an\u0101s gadu: sudraba v\u0113rt\u012bba pieauga par 119 %, zelta \u2013 par 45 %, bet Bitcoin piedz\u012bvoja v\u0113rt\u012bbas kritumu par 18 % (eiro izteiksm\u0113).<\/p>\n
Tehnolo\u0123ijas un m\u0101ksl\u012bgais intelekts turpin\u0101ja veicin\u0101t pasaules ekonomikas un tirgus izaugsmi. Tom\u0113r konkurenti \u0136\u012bn\u0101 un \u0100zij\u0101 kopum\u0101 piedz\u012bvoja sp\u0113c\u012bgu izaugsmi. \u0136\u012bnas uz\u0146\u0113muma Cambricon akciju v\u0113rt\u012bba pieauga par vair\u0101k nek\u0101 100 %, bet Nvidia akciju v\u0113rt\u012bbas pieaugums bija \u201ctikai\u201d 39 %, savuk\u0101rt elektrisko transportl\u012bdzek\u013cu ra\u017eot\u0101ju BYD un Geely p\u0101rdo\u0161anas r\u0101d\u012bt\u0101ji turpin\u0101ja p\u0101rsp\u0113t Tesla r\u0101d\u012bt\u0101jus. Tom\u0113r pat vado\u0161ie m\u0101ksl\u012bg\u0101 intelekta uz\u0146\u0113mumi saskaras ar neskaidr\u012bb\u0101m. Lai gan daudzi uz\u0146\u0113mumi run\u0101 par m\u0101ksl\u012bg\u0101 intelekta ievie\u0161anu, sal\u012bdzino\u0161i maz uz\u0146\u0113mumu maks\u0101 par \u0161\u0101diem pakalpojumiem. Turkl\u0101t liela da\u013ca ieguld\u012bjumu nozar\u0113 tiek finans\u0113ti ar kred\u012btiem, un vado\u0161ie uz\u0146\u0113mumi ir liel\u0101 m\u0113r\u0101 atkar\u012bgi viens no otra un no n\u0101kotnes piepras\u012bjuma. Gada beig\u0101s Oracle akciju v\u0113rt\u012bba samazin\u0101j\u0101s un procentu izmaksas pieauga, \u0146emot v\u0113r\u0101 zi\u0146ojumus, ka Oracle datu centru strauj\u0101 papla\u0161in\u0101\u0161ana OpenAI vajadz\u012bb\u0101m liel\u0101 m\u0113r\u0101 balst\u0101s uz prognoz\u0113tajiem ie\u0146\u0113mumiem, kas var ar\u012b nepiepild\u012bties. Visticam\u0101k, m\u0101ksl\u012bg\u0101 intelekta t\u0113ma b\u016bs \u013coti aktu\u0101la ar\u012b 2026. gad\u0101, kas var palielin\u0101t tirgus sv\u0101rst\u012bgumu.<\/p>\n
T\u0101pat k\u0101 2024. gad\u0101, ar\u012b 2025. gad\u0101 ieguld\u012bjumi, kas v\u0113rsti uz ESG, atkal piedz\u012bvoja gr\u016bt\u012bbas. Liel\u0101 ASV tirgus koncentr\u0101cija, kur akciju v\u0113rt\u012bbas pieaugumu piedz\u012bvoja tikai da\u017ei uz\u0146\u0113mumi, apvienojum\u0101 ar \u0136\u012bnas rad\u012bto konkurenci un ASV politikas novirz\u012b\u0161anos no \u201cza\u013caj\u0101m\u201d priorit\u0101t\u0113m Trampa prezident\u016bras laik\u0101 samazin\u0101ja piepras\u012bjumu p\u0113c ar ilgtsp\u0113ju saist\u012btiem akt\u012bviem. L\u012bdz ar to da\u017ei ESG akciju indeksi nodro\u0161in\u0101ja aptuveni par 7 procentpunktiem zem\u0101ku ienes\u012bgumu nek\u0101 tradicion\u0101l\u0101s akcijas.<\/p>\n
Ko sagaid\u012bsim t\u0101l\u0101k<\/p>\n
\u013boti iesp\u0113jams, ka decembr\u012b bija nov\u0113rojamas vair\u0101kas tendences, kas noteiks tirgu virz\u012bbu 2026. gad\u0101. Galvenais jaut\u0101jums – vai tehnolo\u0123iju un m\u0101ksl\u012bg\u0101 intelekta nozares, kas p\u0113d\u0113jos gados ir strauji att\u012bst\u012bju\u0161\u0101s, sp\u0113j \u0123ener\u0113t pietiekamus ie\u0146\u0113mumus, lai segtu darb\u012bbas izmaksas un saglab\u0101tu izaugsmes tempu. ASV FED procentu likmju samazin\u0101jumam vajadz\u0113tu viegli stimul\u0113t ekonomiku, ta\u010du tas noz\u012bm\u0113 ar\u012b turpm\u0101ku (lai gan maz\u0101ku) spiedienu uz ASV dol\u0101ra kursu. Anal\u012bti\u0137i prognoz\u0113, ka eiro kurss 2026. gada beig\u0101s b\u016bs 1,20\u20131,25 ASV dol\u0101ru robe\u017e\u0101s.<\/p>\n
Liel\u0101k\u0101 da\u013ca anal\u012bti\u0137u joproj\u0101m ir optimistiski noska\u0146oti attiec\u012bb\u0101 uz akcij\u0101m. Paredzams, ka ASV S&P 500 indekss pieaugs par aptuveni 9 %, un tikai viens no tr\u012bsdesmit Bloomberg aptauj\u0101tajiem anal\u012bti\u0137iem prognoz\u0113 aptuveni 20 % kritumu. Tiek prognoz\u0113ts, ka pasaules akciju ienes\u012bgums b\u016bs 6-7 %, savuk\u0101rt oblig\u0101ciju ienes\u012bgums var\u0113tu b\u016bt 3-5 % robe\u017e\u0101s.<\/p>\n","protected":false},"excerpt":{"rendered":"Aizvad\u012bt\u0101 gada p\u0113d\u0113j\u0101 m\u0113nes\u012b akciju tirgi sv\u0101rst\u012bj\u0101s, un m\u0113ne\u0161a rezult\u0101ts neatbilda ierasti optimistiskajam v\u0113sturiskajam sniegumam. Tom\u0113r m\u0113ne\u0161a beig\u0101s…\n","protected":false},"author":2,"featured_media":101983,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[869,77,870,76,867,35,39,38,36,37,34,871,868,40,21],"class_list":{"0":"post-101982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bizness","8":"tag-biznesa-zinas","9":"tag-bizness","10":"tag-bizness-latvija","11":"tag-business","12":"tag-dienas-zinas","13":"tag-latvia","14":"tag-latvian","15":"tag-latviesu","16":"tag-latviesu-valoda","17":"tag-latviesuvaloda","18":"tag-latvija","19":"tag-latvijas-biznesa-zinas","20":"tag-latvijas-zinas","21":"tag-lv","22":"tag-zinas"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@lv\/115881793584254238","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/101982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/comments?post=101982"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/101982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media\/101983"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media?parent=101982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/categories?post=101982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/tags?post=101982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}