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Bitcoin continues to hover around the $112,500 level, with volatility persisting across the market following last week’s historic crash. According to on-chain data, short-term holders (STHs) remain under heavy pressure, showing clear signs of panic. The STH realized price, a metric that tracks the average cost basis of recent buyers, indicates that many traders are still reacting emotionally to price fluctuations. The latest liquidation event seems to have deeply impacted market sentiment — even a small pullback yesterday was enough to trigger another wave of panic selling. Yet, while some investors capitulate, others are seizing the opportunity. The famous Bitcoin OG whale, who gained widespread attention for shorting BTC and ETH right before the crash, has reportedly closed his position, locking in more than $197 million in profits. This move marks the end of one of the most successful short trades of the year. As Bitcoin stabilizes within a tight range, the market remains divided between fear-driven sellers and opportunistic players positioning for the next major move. The coming days could determine whether BTC finds stability or faces renewed selling pressure from nervous short-term holders. Bitcoin Whale Moves Cause Speculation Lookonchain has tracked a series of high-stakes moves from the trader known as BitcoinOG (1011short) — one of the most closely watched whales in the market right now. The trader reportedly closed all BTC short positions on Hyperliquid, securing more than $197 million in profit across two wallets after last week’s crash. Just hours later, the same wallet transferred $89 million USDC to Binance, immediately sparking speculation that the trader could be preparing to reopen short positions. Coincidentally, Bitcoin open interest on Binance surged by $510 million shortly after the deposit, adding fuel to theories that the whale may be behind the move. While no direct link has been confirmed, analysts are split on whether this signals another round of aggressive shorting or simply capital repositioning. Some suggest the whale may be betting on further downside after Bitcoin’s failure to hold above $115K, while others believe the funds could be used for market-neutral strategies like hedging or arbitrage. Still, the timing has left traders uneasy. The market remains fragile, and the whale’s actions — whether strategic or coincidental — could influence short-term sentiment as Bitcoin fights to defend support around the $110K region. BTC Consolidates Below Pivotal Level Bitcoin continues to face selling pressure as it trades around $112,500, hovering just above its short-term support zone. The daily chart shows that BTC remains trapped between the 50-day moving average (near $115,000) and the 200-day moving average (around $108,000), signaling an indecisive market. The repeated rejections near $117,500 — a level that acted as both support and resistance throughout the year — confirm it as a key supply zone. The recent bounce attempts have been weak, with volume thinning and momentum indicators suggesting consolidation rather than a strong reversal. Bulls are struggling to reclaim control after the sharp sell-off that briefly sent BTC to $103K, and failure to hold above $110K could expose the next lower liquidity pockets around $107K and $105K. On the other hand, holding above this range would stabilize market sentiment, allowing BTC to rebuild a base for a potential retest of the $115K–$118K area. For now, price action remains cautious — range-bound and reactive to broader risk sentiment. Traders are watching for a breakout above $115K or a decisive drop below $110K to confirm the next major directional move in the aftermath of last week’s volatility. Featured image from ChatGPT, chart from TradingView.com

Log in to today's North American session Market wrap for October 15 An uneasy sentiment still dominates markets, even as equities somehow manage to close higher. The opening session continued the positive flows coming from Europe but at some point buyers vanished into the fog the moment selling pressure hit. Thin trading conditions are amplifying the swings, with many participants on edge for the latest headline. US-China trade angst remains front and center, with top officials on both sides offering a mix of fiery remarks and conciliatory tones. It is part of the Trump's way of doing to publish harsh comments, never failing to scare markets and TACO it out – Bulls are hoping for another TACO for now at least. Meanwhile, metals continue to thrive on the backdrop of uncertainty. Gold surged to a new record at $4,218, while Silver consolidates at its highs — clear signs that flows into metals remain robust even as equity traders struggle to find their footing. Read More:North American mid-week Market update – US-China trade tensions are backSilver (XAG/USD) squeeze shakes market participantsWhat if there was no trend in the US Dollar ? DXY OutlookCross-Assets Daily Performance zoom_out_map Cross-Asset Daily Performance, October 15, 2025 – Source: TradingView Many assets remain mixed, but overall, the current US-China trade seems to be located in selling Cryptos, and buying gold. For the rest, equities and currencies are very mixed (except for the USD which is also getting rejected from its highs. A picture of today's performance for major currencies zoom_out_map Currency Performance, October 15 – Source: OANDA Labs Counterintuitively, the GBP is finishing on top of majors today, propulsed by some technical "bad lows" after the UK's disappointing jobs report. Nonetheless, the pound seems to disregard the bearish outlook – Confusing flows, but might provide some opportunities? It was getting sold off heavily heading into the number so it could be some buy-the-bad-news flows. North American currencies have struggled on the other side of the daily spectrum, hurt by the still absent US-Canada deal news, and the US-China scare. A look at Economic data releasing through tonight and tomorrow's session zoom_out_map For all market-moving economic releases and events, see the MarketPulse Economic Calendar. The session is not over yet for AUD traders who will have to monitor the highly anticipated Australian Employment Data, releasing this evening at 20:30 EDT. With the AUD having performed well, expectations are high. The early birds will assist to the UK GDP and Production data (2:00 A.M. ET), which will provide insight into British economic momentum. In the absence of BLS data, markets should only see the Philly Fed Manufacturing Survey which should help at least a bit from the huge absence of US Data. To compliment the data, Markets are awaiting a wave of Central Bank comments: US Fed: A host of officials speak throughout the day, including Barr, Waller, Bowman, and Kashkari, starting at 9:00 A.M. ET.Canada BoC: Keep a close eye on Governor Macklem's economic outlook speech at 1:30 P.M. ET.Europe: We also hear from ECB's Lagarde and BoE's Mann. Safe Trades! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Today, gold has updated its all-time high, driven by a series of fundamental factors. This week has been marked by new threats from U.S. President Donald Trump, who announced the possible suspension of trade operations with China — including shipments of vegetable oil and other goods — in response to Beijing's refusal to purchase American soybeans. In turn, China announced additional special port fees for American vessels entering its ports, as well as stricter export restrictions on rare earth metals. These measures indicate a significant escalation of the trade conflict between the world's two largest economies. At the same time, geopolitical risks and concerns that the U.S. administration could influence economic indicators are driving increased investment in gold as a safe-haven asset. On Wednesday, a new record high was recorded for the precious metal. The International Monetary Fund (IMF) has raised its forecast for global economic growth in 2025 for the second time since April — to 3.2% from the previous 3.0% — but warned that renewed trade conflicts between the U.S. and China could significantly slow down production. At the same time, the report notes that the Trump administration's tariff measures have proven to be less damaging than expected. According to media reports, Trump has considered supplying Ukraine with long-range American Tomahawk cruise missiles to put pressure on Russian President Vladimir Putin and push him toward negotiations. These actions sustain geopolitical tensions and contribute to the rise in gold prices. Meanwhile, the vote on a temporary funding bill supported by Republicans — aimed at ending the partial shutdown of the federal government — failed to gain the required number of votes in the Senate on Tuesday. This means the shutdown, which began on October 1, will enter its third week, with no resolution in sight. Yesterday, on Tuesday, Federal Reserve Chair Jerome Powell did not provide specific guidance regarding interest rates, but his comments about labor market weakness suggest that further monetary easing remains possible. According to the CME Group's FedWatch Tool, markets have already priced in a 25-basis-point rate cut in October, and there is a 90% probability that the Fed will lower borrowing costs again in December. This has been weighing on the U.S. dollar for the second consecutive day, supporting the rise in gold prices. Given that important U.S. macroeconomic data releases have been delayed due to the government shutdown, attention should be paid to speeches by influential FOMC members — they will play a key role in driving dollar demand and providing additional momentum. From a technical standpoint, gold has shown strong resilience below the round level of $4,100. Moreover, the rally seen over the past three weeks has been moving along an upward trendline, indicating that the path of least resistance for gold remains upward. However, the extremely overbought RSI (Relative Strength Index) on the daily chart calls for caution when opening new long positions. A corrective pullback toward the $4,100 round level can be viewed as a buying opportunity, likely limited to the $4,060–4,055 area. A convincing break below this zone could trigger technical selling, pushing the price toward the psychological level of $4,000. A strong breakout below that level could be seen as the first sign of exhaustion in the bullish trend, signaling the potential for deeper losses. The material has been provided by InstaForex Company - www.instaforex.com

Clark Street Associates (CSA), a US advisory firm specializing in government funding for hard tech companies in sectors such as critical minerals, semiconductors, climate technology, and defense, announced Wednesday its expansion into Canada. The move opens up opportunities for Clark Street’s existing and prospective clients to take advantage of a market where government investment is rapidly increasing—and often with less competition for available funding, it said. The firm, which has offices in Washington DC and Los Altos, California said Canada’s federal government is aggressively deploying capital to build domestic technology capabilities, creating unprecedented opportunities for companies that understand how to navigate the landscape. Billions of dollars are being allotted across key strategic areas, including Defense. Beginning in 2025, CSA said Canada will exceed NATO’s requirement that 20% of military budgets go to major equipment and technology, representing a C$13.2 billion growth opportunity in advanced defense manufacturing, cybersecurity, and R&D. The Canadian federal government has also pledged to reach 5% of GDP in defense-related investments, an estimated C$150 billion annually, while also increasing annual expenditures from C$39.0 billion in 2024–25 to more than C$52.2 billion by 2029–30. Critical minerals The country’s Critical Minerals Infrastructure Fund is offering up C$1.5 billion through 2030 to support clean energy and transportation infrastructure for mineral production. Likewise, the updated Critical Minerals Strategy includes over C$550 million in commitments, including new tax credits, funding for innovation, and expanded infrastructure, aimed at making Canada a global supplier of choice. Aiming to compete in the global AI race, Canada has already awarded over C$74 million in quantum technology grants in the past year alone, the firm said, adding that it believes this trend is only going to continue as the government is investing heavily in next-generation compute platforms, including a C$2 billion Sovereign AI Compute Strategy to expand access to high-performance infrastructure. Clean energy Canada continues to focus on clean energy, opening up new avenues for U.S. companies to establish a footprint there, CSA pointed out. The country aims to offer C$93B in Clean Economy Investment Tax Credits by 2034 – 2035, which will cover clean technology, manufacturing, carbon capture, and hydrogen projects. “Canada is investing boldly to turn today’s challenges into tomorrow’s opportunities—building in sectors from energy to critical minerals and beyond,” Senior Trade Commissioner at the Canadian Consulate in San Francisco Simon Pomel said in a news release. “We invite global innovators and industry leaders to see Canada as their next platform for growth—where world-class infrastructure, skilled talent, and a stable, values-driven economy position you to lead on solutions critical to our shared security and prosperity.” “Expanding into Canada isn’t just about geography, it’s about timing,” CSA CEO Stephen Empedocles said. “With billions in new funding coming online, Canada is opening the door for companies to launch new projects, scale faster, and build lasting partnerships,” Empedocles said. “Our job is to make sure innovators take full advantage of these opportunities, establish projects in the region, and build meaningful partnerships with our neighbors to the north.” For a more detailed summary of funding opportunities in Canada, Clark Street’s recent whitepaper is here.

Log in to our mid-week North American Markets overview, where we examine the current themes in North America and provide an overview of indices and currency performances. A strong US dollar and resilient North American equity markets — both on impressive runs since early October — finally met their first major challenge towards the end of last week: the return of US-China trade tensions. The spark came from a Trump Truth Social post last Friday that reignited fears of a new trade war, triggering a sharp risk-off move across markets. China has tightened restrictions on rare earth exports, a move that rattled Washington and recreated what seemed to be a new challenge to the American dominance on global trade. On that aspect, President Trump actually made a few repetitions of BRICS being an attack on the dollar. Read More:US-China trade war scare: What happened Friday and where things stand nowSilver (XAG/USD) squeeze shakes market participants Over the weekend and into Monday, sentiment stabilized thanks to a series of calming remarks from the President in another post and the US Trade Representative Jamieson Greer, whose conciliatory tone was welcomed by investors and helped equities rebound despite volatile opens on Monday and Tuesday. Still, market participants remain on edge. The EU has called on the US to coordinate a joint response to Beijing’s latest trade maneuvers — a sign that the geopolitical and economic crosscurrents fueling volatility may only just be warming up. Markets are also still awaiting for concrete news regarding the US-Canada deal, mentioned to have been in the middle of discussions. Both Trump and Canadian PM Mark Carney have been preoccupied by the Peace summit for the Middle East throughout the end of last week. FYI, the Fed Beige Book just got published – It's not a big market mover with nothing alarming noted. It is still a very nice read, you can access it right here. Let's dive right into a few charts to get an overview on North American Markets, from US and Canadian equity Markets performance, USD and CAD performance to USDCAD and DXY charts. North-American Indices Performance zoom_out_map North American Top Indices performance since last Monday – October 15, 2025 – Source: TradingView Not a single Stock index has managed to withhold the trade tensions scare. Not only restraining economic activity, such tensions come to challenge the globalized world as we know it which never helps sentiment. This also comes as many analysts start to show concerns on elevated equity valuations (which haven't seen much retracement since June), further amplifying the tense feeling in Equities. Dollar Index 8H Chart zoom_out_map Dollar Index 8H Chart, October 15, 2025 – Source: TradingView The US Dollar has been forming what resembles a higher timeframe range, reacting well to the RSI extremes. A further, detailed analysis of the Dollar has been published on our site this morning, which I gladly invite you to discover. Read More: What if there was no trend in the US Dollar ? DXY OutlookUS Dollar Mid-Week Performance vs Majors zoom_out_map USD vs other Majors since last Monday, October 15, 2025 - Source: TradingView. The US Dollar had taken quite the lead on its major counterparts, but the latest currency risk-off put the CHF and the JPY on the front lines (only since Friday). Keep track of how the current narrative shapes FX flows looking forward. Things have been and are expected to stay volatile. Canadian Dollar Mid-Week Performance vs Majors zoom_out_map CAD vs other Majors, October 15, 2025 - Source: TradingView. The Loonie has been looking for redemption, appreciating from the rise of its neighbor brother, but consequently also getting dragged down throughout the end of last week. Keep an eye on any news regarding the US-Canada trade deal, which largely is the biggest X factor for the struggling currency. This would also be of great help to the Canadian Economy which has been struggling for a while and definitely not helped by the tariffs. Intraday Technical Levels for the USD/CAD zoom_out_map USDCAD 4H Chart, October 15, 2025 – Source: TradingView A lack of convicting fundamentals from Canada keep attracting buyers which are largely enjoying the upward trendline. This one will also be the one to watch for any correction, as the price action now holds largely above 1.40. Levels to place on your USDCAD charts: Resistance Levels 1.40 to 1.4050 Psychological resistance (currently testing)Tuesday 14 Oct highs 1.40784Daily Resistance 1.41 - 1.4150April Pivot 1.4250Support Levels Upward trendline line & MA 50 1.3910 to 1.39201.3925 Aug 22 highs current pivotMajor Daily Pivot 1.391.38 Handle +/- 150 pips1.3550 Main 2025 Support You can also check out our very recent in-detail analysis of the North American pair right here: USD/CAD Price Outlook: Consolidation Above Key 1.4000 Handle. What Next for the Loonie? US and Canada Economic Calendar for the Rest of the Week zoom_out_map US and Canadian Data for the rest of the week, MarketPulse Economic Calendar Now midway through the third week of the US government shutdown, Markets have been getting pretty hungry for US data. The Monthly US CPI will be getting released on October 24th in what was an emergency gathering of a few BLS workers to work on the essential release. There is still no news on the Jobs data, hence Markets will be waiting for other reports such as the Philly Fed Manufacturing Survey, which gathers much more importance now. For the rest, focus on key speeches from Fed members (the upcoming cut is well-priced in after Powell's speech from yesterday). For CAD traders, don't forget to check the Macklem remarks at 13:30 tomorrow, and the Housing Starts on Friday morning 8:30. How investors and traders can gauge the US labor market amid the BLS shutdown Safe Trades! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

The recent market-wide crash that sent the XRP price tumbling to $1.2 before an immediate rebound has left traders wondering whether the worst is over. Crypto analyst Steph, in a detailed technical analysis shared on X, noted that the latest move could be an important turning point for XRP. Although his outlook acknowledges the possibility of recovery, his deeper analysis of XRP’s chart history and key indicators paints a mixed picture of what lies ahead for the cryptocurrency. Bearish RSI Divergence Echoes 2021 Price Collapse According to Steph, XRP’s current structure on the weekly timeframe closely mirrors the 2020 to 2021 cycle that led to a 74% correction. The analyst highlighted a bearish RSI divergence where the price forms higher highs while the RSI forms lower highs, indicating that buying momentum is fading even as prices attempt to climb. In his view, this pattern has always indicated exhaustion in bullish strength and the beginning of corrections. Steph drew comparisons to late 2024, up until July 2025, when XRP’s weekly RSI was declining despite rising prices. This setup has now triggered the most recent 65% correction that reached a bottom over the weekend. He noted that the correction, which started around July 14, has lasted more than 80 days, similar to the duration of the 2021 correction. Based on this, XRP could be nearing the end of its corrective phase before a rebound if history repeats itself. Steph acknowledged that the crypto market’s recent crash was heavily influenced by macroeconomic factors, including the US president’s announcement of a 130% tariff on Chinese imports, effective November 1. This shock, combined with leveraged positions across the market, led to the deepest liquidation wicks ever recorded for XRP. Nonetheless, the analyst believes that XRP has flushed out excessive leverage and cleared liquidity zones around $2.25, and this has set the stage for a possible rebound to higher liquidity targets and new all-time highs above $4. However, sustained bullish momentum from here depends on reclaiming other important price levels. XRP Price Levels To Watch Before Calling A Bottom Despite the bullish prediction, it is important to note that XRP is still at a technical crossroads that can either be bullish or bearish. The price has fallen below its range between $2.65 and $2.84, which had served as support for months. Therefore, reclaiming at least $2.65 on the weekly close is essential to confirm that the bottom is in and that the recovery phase has begun. In his video, crypto analyst Steph also talked about the importance of the 50-week simple moving average (SMA), which is currently around $2.45. Closing below this line has marked the start of bear markets for XRP. If we see one or two weekly closes below $2.40, then that’s a signal to exit crypto. The bullish prediction, one that could even lead XRP to new all-time highs, depends on if it manages a weekly close above $2.4, breaks above $2.65 and its 50-week SMA, and sustains buying strength. At the time of writing, XRP is trading at $2.52, up by 2.6% in the past 24 hours.

Sony is making strides to enter the crypto banking sector through its financial arm, Sony Bank, as the Japanese group has recently submitted an application to US regulators for a national banking charter via its subsidiary, Connectia Trust. This move signifies Sony’s intent to engage in various cryptocurrency-related activities, which include the issuance of US dollar-backed stablecoins, maintaining reserves, and providing custody and fiduciary management services for digital assets to select clients. Sony Seeks OCC Approval For Crypto Banking License In its national banking charter filing with the Office of the Comptroller of the Currency (OCC), Sony emphasized that its proposed activities align with those already approved for other nationally chartered banks. Should the application be granted, Sony would join a select group of firms, including Stripe, crypto exchange Coinbase (COIN), Paxos, and stablecoin issuer Circle (CRCL), all of which are also pursuing federal crypto banking licenses. Currently, Anchorage Digital Bank is the only entity to have received full approval. If Connectia Trust secures approval from the OCC, it could emerge as one of the first major tech-bank hybrids authorized to issue regulated stablecoins in the United States. Strengthening Digital Asset Presence This venture into the digital asset space is not Sony’s first. Earlier in 2025, the company collaborated with Startale Labs to introduce Soneiun, an Ethereum Layer-2 )L2) network tailored to enhance decentralized applications. Now, with Connectia Trust, Sony is poised to synergize its financial expertise with blockchain technology, thereby expanding its footprint in the global digital asset ecosystem. Featured image from DALL-E, chart from TradingView.com

At the end of the third quarter the MINING.COM TOP 50* ranking of the world’s most valuable miners had a combined market capitalization of just under $1.97 trillion, up nearly $700 billion so far in 2025 with most of the gains accumulated in the third quarter. The total stock market valuation of the world’s biggest mining companies has finally surpassed the previous record high reached more than three years ago and in the process transformed the ranking of the upper echelons. Trends in the global mining industry that have been documented in these pages for more than a decade have finally broken through to the mainstream with critical minerals suddenly on everybody’s lips – from the US president down to the proverbial taxi driver sharing stock picks. The weakness in the greenback played a part in the blowout quarter – the ranking is based on a company’s market capitalization in local currency on its primary exchange and then converted to USD where applicable. Rampant precious metals prices including the thoroughly revived platinum group metals can take much of the credit, although amid the general buoyancy the 60-plus percentage gains in PGM prices were not enough to see producers re-enter the ranking. The best performing list shines with gold and silver counters including an eye-popping six-fold increase for erstwhile minnows like Coeur Mining (which timed its acquisition of Mexican silver mines to perfection) and a 305% jump for Fresnillo, the London-listed silver miner controlled by Mexico’s Peñoles. Apart from gold and silver, rare earths have been the standout sector. Squeaking in at no 49 after soaring by 280%, Perth’s Lynas Rare Earth joins Las Vegas-based MP Materials which rocketed up the charts in Q2 after a groundbreaking deal with the Pentagon. MP Materials is now up nearly 500% and China Northern Rare Earth, the only rare earth stock to ever feature in the top 50, in sympathy is up 160% since the start of the year. Changes in the top tier dominated by diversified giants and gold and copper specialists have also seen a thorough reshuffle. The global mining industry is trying to consolidate to attract more large-scale investors to the sector but so far the results have been mixed at best. Since inception, the MINING.COM TOP 50 was headed by two firms – BHP and Rio Tinto – the only miners with consistent market capitalizations above $100 billion (with a wobble here and there). Now there are five firms with the distinction and likely more to come. Attempted combinations by the two Melbourne-based companies (including of the two of them in 2008) have gone nowhere. BHP’s failure to buy Anglo American last year saw the company pivot to organic copper growth with up to $10bn being spent on Escondida alone, the world’s largest copper mine (for now). The chances of Rio Tinto’s off-again on-again love affair with Glencore being consummated, looks slim and new CEO Simon Trott’s restructuring looks more like preparation for spin-offs than company level M&A, particularly after the head-scratching Arcadium Lithium buy. The now 20-year old Alcan deal probably also still haunts boardrooms in Melbourne. While BHP still has a clear lead of nearly $30 billion to the nearest competitor, Rio Tinto was for a few trading sessions this week pushed from its usual slot by Chinese champion Zijin Mining. The diversified giant gained 61% in value over the course of the third quarter alone and is now worth $114.8 billion compared to Rio’s $115.6 billion. In a less frenzied environment Rio Tinto’s more than respectable 14% advance over three months would’ve drawn praise. Now it’s a laggard. Xiamen-based Zijin with a string of investments in gold, copper and more recently lithium made over the last few years became only the fourth company to top $100 billion in market value (Vale climbed above that level – briefly – in 2022). Southern Copper, the NYSE-listed mining arm of Grupo Mexico, also joined the rarified atmosphere of triple digits during the quarter thanks to a 38% jump in Q3. Like other copper majors Southern Copper is looking to add to its operating assets with an aggressive investment strategy north of $10 billion in Mexico alone, but the company’s valuation is probably now too rich for any would-be acquirer. Newmont also joined the triple digit club this week. Unlike its acquisitive peers, shortly after swallowing Australia’s Newcrest Mining at the end of 2023 for $17 billion, Newmont embarked on a multi-billion dollar divestiture program. Agnico Eagle and Kirkland Lake Gold combined in 2022 and the Toronto-based group continues to bolt on assets, making it a candidate for the $100 billion mark should gold continue its death defying rally. Agnico has doubled in value this year and is worth $89.0 billion. Of the recent mega-deal announcements, the one between Anglo and Teck Resources looks most feasible, but this agreement has also run into trouble, even before regulators get a hold of it. Teck Resources sharply lowered its 2025 copper guidance due to operational hiccups at its Quebrada Blanca and Highland Valley mines, testing Anglo’s commitment. Particularly after Anglo’s careful concession on headquarters for the merged entity under pressure from Ottawa. Teck is one of the worst performers for the quarter and as of now, an Anglo-Teck, would hardly crack the top 10 with a combined value of a shade under $63 billion, placing it just ahead Freeport-McMoran at number eight. Freeport, often mentioned as a takeover target, has run into its own copper production problems. Last month a catastrophic mud rush at its Grasberg mine in Indonesia released approximately 800,000 tonnes of material into underground workings, forcing the Phoenix-based company to slash production forecasts. Freeport is now relatively cheap for a 1.3 million attributable tonnes of copper per year operation (before Grasberg suspension) after being one of only a handful of stocks showing declines over the three months. But companies that have kicked tires, may wait until operations in Indonesia get back on track. Glencore, which tried and failed to acquire Teck a couple of years ago and only ended up with its coal assets, has also been another perennial underperformer and ended up on the worst performer table again this quarter. The Swiss miner and commodities trader and no 4 copper producer behind Freeport, just holds onto the top 10 but is still trading well below its 2011 IPO price in London. Since the transformative 2013 Glencore–Xstrata merger of equals that was anything but – still the biggest mining deal in history – Baar has always been the bridesmaid but never the bride. No mining M&A conversation is complete without Glencore. The Ivan Glasenberg and Mick Davis boardroom brawl born out of the mean streets of Johannesburg, was also one of the most entertaining in and outside mining. Will Glencore and Rio Tinto finally tie the knot? You’d love to see it. NOTES: Source: MINING.COM, stock exchange data, company reports. Share data from primary-listed exchange on October 14/15, 2025 close of trading converted to US$ where applicable. Percentage change based on US$ market cap difference, not share price change in local currency. As with any ranking, criteria for inclusion are contentious. We decided to exclude unlisted and state-owned enterprises at the outset due to a lack of information. That, of course, excludes giants like Chile’s Codelco, Uzbekistan’s Navoi Mining (the gold and uranium giant may list later this year), Eurochem, a major potash firm, and a number of entities in China and developing countries around the world. Another central criterion was the depth of involvement in the industry, and how far upstream is the bulk of its revenue, before an enterprise can rightfully be called a mining company. For instance, should smelter companies or commodity traders that own minority stakes in mining assets be included, especially if these investments have no operational component or even warrant a seat on the board? This is a common structure in Asia and excluding these types of companies removed well-known names like Japan’s Marubeni and Mitsui, Korea Zinc and Chile’s Copec. Levels of operational or strategic involvement and size of shareholding were other central considerations. Do streaming and royalty companies that receive metals from mining operations without shareholding qualify or are they just specialised financing vehicles? We included Franco Nevada, Royal Gold and Wheaton Precious Metals on the basis of their deep involvement in the industry. Vertically integrated concerns like Alcoa and energy companies such as Shenhua Energy or Bayan Resources where power, ports and railways make up a large portion of revenues pose a problem. The revenue mix also tends to change alongside volatile coal prices. Same goes for battery makers like China’s CATL which is increasingly moving upstream, but where mining will continue to represent a small portion of its valuation. Another consideration is diversified companies such as Anglo American with separately listed majority-owned subsidiaries. We’ve included Angloplat in the ranking but excluded Kumba Iron Ore in which Anglo has a 70% stake to avoid double counting. Similarly we excluded Hindustan Zinc which is listed separately but majority owned by Vedanta. With other groups like Mexico’s Penoles where refining and chemicals make up a substantial part of the business where possible the Top 50 would include separately listed operating subsidiaries that are dedicated to mining. This is also why Southern Copper represents Grupo Mexico in the ranking. Many steelmakers own and often operate iron ore and other metal mines, but in the interest of balance and diversity we excluded the steel industry, and with that many companies that have substantial mining assets including giants like ArcelorMittal, Magnitogorsk, Ternium, Baosteel and many others. Head office refers to operational headquarters wherever applicable, for example BHP and Rio Tinto are shown as Melbourne, Australia, but Antofagasta is the exception that proves the rule. We consider the company’s HQ to be in London, where it has been listed since the late 1800s. Please let us know of any errors, omissions, deletions or additions to the ranking or suggest a different methodology: email Frik Els at fels@mining.com with Top 50 in the subject line.

Bitcoin is facing a pivotal moment after last Friday’s flash crash briefly sent prices tumbling to the $103,000 level, shaking market confidence before a swift recovery. The leading cryptocurrency has since stabilized, consolidating below the $115,000 mark as traders and institutions reassess short-term momentum. While volatility has returned, on-chain and institutional data continue to show underlying strength in Bitcoin’s fundamentals. According to a new report from Bitwise, institutional demand remains robust — with 72 publicly known companies collectively holding more than 1 million BTC, valued at roughly $117 billion. This includes major corporate holders, ETFs, and investment funds that continue to view Bitcoin as a long-term strategic asset despite the market turbulence. This growing accumulation reinforces the idea that Bitcoin’s macro trend remains intact, driven by institutional adoption and long-term conviction. As the market digests recent volatility, the strength of these treasury positions could play a key role in stabilizing prices and setting the stage for Bitcoin’s next major move. Corporate Bitcoin Adoption Reaches Record Levels in Q3 The latest Bitwise report highlights a striking development in Bitcoin’s institutional landscape: 176,762 BTC were purchased during Q3 by publicly listed companies and funds. This steady growth in corporate treasuries underscores how Bitcoin continues to evolve from a speculative asset into a recognized component of the global financial ecosystem. At the forefront of this movement remains Strategy, which retains its position as the largest corporate holder with 640,031 BTC, equivalent to tens of billions in market value. The firm also added an impressive 40,000 BTC during the third quarter, demonstrating persistent conviction despite recent volatility. Other institutions and ETFs have followed suit, expanding their Bitcoin exposure as part of broader digital asset strategies aimed at hedging inflation, diversifying reserves, and participating in a new phase of global liquidity cycles. This expanding corporate adoption suggests that Bitcoin has entered a more mature and globally integrated phase. No longer seen solely as a speculative trade, it is increasingly recognized as a strategic asset within the balance sheets of financial institutions and multinational corporations. In essence, this trend reflects the institutionalization of Bitcoin—a movement that stabilizes demand, reinforces market confidence, and reduces the dominance of short-term retail speculation. As regulatory frameworks evolve and traditional finance converges with blockchain technology, Bitcoin’s presence in corporate treasuries could become as routine as holding cash or government bonds. Bitcoin Consolidates Below Key Resistance Amid Market Uncertainty Bitcoin continues to face pressure as it trades around $112,870, struggling to reclaim the critical $117,500 resistance zone highlighted in the chart. This level has acted as a key supply area over recent months, and each failed breakout attempt has reinforced it as a strong ceiling for the price. After the flash crash to $103,000 last week, BTC staged a moderate recovery but remains trapped between the 50-day moving average (blue) and the 200-day moving average (red)—a zone that often defines medium-term trend direction. Bulls have managed to protect the $110,000–$111,000 support area, but repeated tests of this range show weakening momentum and growing uncertainty. The moving averages are currently flattening, suggesting market indecision. If Bitcoin fails to retake the $115,000–$117,500 range, further downside toward $108,000 or even $105,000 remains possible in the short term. Conversely, a successful daily close above $117,500 could confirm renewed bullish momentum and open the door for a move toward $122,000–$125,000. BTC appears to be in a consolidation phase, digesting recent volatility while traders wait for clearer direction. Institutional flows and on-chain signals will likely determine whether this zone becomes a base for recovery or the beginning of another leg lower. Featured image from ChatGPT, chart from TradingView.com

Aya Gold & Silver (TSX: AYA) saw double-digit gains on Wednesday for a near all-time high after reporting strong results for the third quarter of 2025, marked by record silver production. During the three months ending Sept. 30, the company produced 1.3 million oz. of the white-colored metal, representing a 29% increase over the previous quarter. The improvement, says Aya, was driven by higher throughput and improved grades at its flagship Zgounder mine in Morocco. For the June-Sept quarter, the Zgounder mill processed on average 3,326 tonnes of material per day, an 11% improvement over Q2 2025, and ran 23% above nameplate capacity. The average head grade also rose 4% to 146 grams of silver per tonne, while silver recovery reached 92.5%, versus 86.5% in the quarter prior. Looking ahead, Aya said it expects continued operational improvement through the fourth quarter, noting that the mill is currently running above 3,700 tonnes per day while maintaining recovery above 90%. “Zgounder delivered another exceptional quarter, achieving record Q3 production, recoveries, and throughput — all while improving grade,” Benoit La Salle, president and CEO of Aya, commented. “Our quarter-over-quarter gains highlight the strength of our team and the benefits of disciplined execution.” Investors responded positively to the quarterly results, as Aya’s stock rose nearly 12% to as high as C$18.41 apiece in Toronto, about C$1 short of its peak. The Quebec-based precious metals miner has a market capitalization of C$2.6 billion ($1.8 billion). Read More: Aya Gold shoots down short-seller claims

The wave pattern on the 4-hour EUR/USD chart has transformed. It is still too early to conclude that the upward trend segment has been canceled, but the recent decline of the European currency has made it necessary to clarify the wave count. Thus, we now see a series of three-wave structures labeled a-b-c. It can be assumed that they are part of the global wave 4 of the upward trend. In this case, wave 4 has taken on an unnaturally extended form, but overall the wave structure remains coherent. The formation of the upward trend segment continues, while the news background remains generally unfavorable for the dollar. The trade war started by Donald Trump continues. The confrontation with the Federal Reserve continues. The market's "dovish" expectations regarding the Fed's rate are growing. The "shutdown" in the U.S. continues. The market rates the results of Donald Trump's first 7–8 months in office quite low, even though economic growth in the second quarter was nearly 4%. In my view, the formation of the upward trend segment is not yet complete. Its targets extend up to the 1.25 level. Based on this, the European currency may still decline for some time, even without any fundamental reason for it (as has been the case over the past two weeks). However, the wave structure will still retain its integrity. The EUR/USD exchange rate practically did not change during Wednesday. The news background today was almost nonexistent. In the morning, the Eurozone published a report on industrial production volumes, which, of course, was disappointing. However, the euro even received a small boost from this report. How can that be? Industrial production volumes fell by 1.2% month-on-month in August. However, markets had expected a drop of 1.6–2.2%. As a result, the negative outcome for August turned out to be less pessimistic than the market had anticipated. Still, this report is not significant enough for the euro to feel better compared to recent weeks. Even Jerome Powell's speech yesterday did not particularly help the buyers. The reason is that in Powell's recent statements it has become extremely difficult to extract anything concrete. In essence, everything boils down to the Fed's intention to make rate decisions solely based on economic data. Consequently, the FOMC is shifting the responsibility for its decisions onto economic reports — that is, onto Donald Trump, who currently steers the U.S. economy. In simpler terms, Powell is saying: if the labor market continues to "cool," we may lower the interest rate; if inflation rises, we may refrain from cutting it. Such "specifics" are unlikely to satisfy market participants. General ConclusionsBased on the conducted EUR/USD analysis, I conclude that the pair continues to form an upward trend segment. The wave structure still entirely depends on the news background connected with Trump's decisions and the internal and external policies of the new White House administration. The targets of the current trend segment may extend up to the 1.25 level. At the moment, we are observing the formation of corrective wave 4, which is nearing completion but is taking on a very complex and extended form. Therefore, in the near future, I continue to consider only buying positions. By the end of the year, I expect the euro to rise to 1.2245, which corresponds to 200.0% on the Fibonacci scale. On a smaller scale, the entire upward segment of the trend is visible. The wave structure is not the most standard one, since the corrective waves differ in size. For example, the larger wave 2 is smaller in size than the internal wave 2 within wave 3. However, this can happen. I remind you that it is best to identify clear structures on the chart rather than trying to account for every single wave. The current upward structure raises almost no questions. Basic Principles of My Analysis Wave structures should be simple and clear. Complex structures are difficult to trade and often change.If you are uncertain about what is happening in the market, it's better not to enter it.There can never be 100% certainty about market direction. Always use protective Stop Loss orders.Wave analysis can be combined with other types of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

Renewing all-time highs earlier today, around ~$4,218, gold (XAU/USD) has extended gains further so far in this week’s trading. With 2025 representing the best yearly performance in the yellow metals’ history by some margin, traders are left with one burning question: When will the current rally end? Let’s break down some of the major macroeconomic themes at play within precious metal markets, alongside some technical analysis and price targets. Gold (XAU/USD): Key takeaways 15/10/2025 Breaking above $4,200 earlier today, gold now trades over 56% higher since the beginning of 2025, with an increase from $3,500 to $4,000 only taking thirty-six daysActing as the primary catalyst for recent upside, markets are increasingly sure of back-to-back Federal Reserve rate cuts in the upcoming decision, with some sources estimating a ~97% probabilityOtherwise, renewed US-China tariffs announced on Friday by President Trump are adding a safe-haven demand premium to metal pricing Read previous coverage: Gold (XAU/USD) set to challenge $4,000 as prices renew all-time highs in today’s session - Potential targets and price forecast zoom_out_map Gold (XAU/USD) yearly performance 1941-2025, OANDA, TradingView, 15/10/2025 Gold breaks above $4,200 with no signs of slowing down While some thought the current rally must retrace, it would seem that markets need little excuse to push metal pricing higher Benefiting from a perfect storm of macroeconomic themes, it would seem that there is no shortage of tailwind for the current gold rally. With markets remaining as bullish as ever, let’s discuss some of the recent macroeconomic developments that are affecting metal pricing: Renewed ‘tit-for-tat’ US-China tariffs: While there is a long history of trade relations between the United States and China, recent developments leave American levies on Chinese imports at 130%, effective November 1st. zoom_out_map @realDonaldTrump, Truth Social, 10/10/2025 Using China’s proposed export controls as justification, especially regarding rare earth minerals, Trump has somewhat predictably responded in kind with an unprecedented 100% tariff, bringing the total levy on Chinese imports to 130%. With Trump’s infamous ‘liberation day’ relatively fresh in collective memory, we can expect further global trade disruption to boost precious metal pricing, as seen since Friday’s announcement. Markets certain of consecutive Fed rate cuts: Having expanded on this in full as part of previous coverage, I’ll be brief: markets are increasingly expecting a 25 basis point cut in the Federal Reserve’s October decision. As a non-yielding asset, this directly benefits gold pricing, especially when considering falling yields on U.S. Treasury bonds. zoom_out_map CME FedWatch, 15/10/2025 While a ~97% probability of a 25 basis point is a rare level of conviction by the market, some rationale behind this confidence can be offered when considering Jerome Powell’s comments on the US labour market yesterday: Rising downside risks to employment have shifted our assessment of the balance of risks Jerome Powell, speaking at a conference in Philadelphia, 14/10/2025 Not only do these comments shift the focus away from inflation, but considering the context of a poor ADP payrolls and missing NFP data, a dovish picture continues to develop. At the time of writing, the Federal Reserve is expected to meet in fourteen days' time, on October 29th. Ongoing US government shutdown: To finish, an honourable mention must be made to the current US government shutdown, while admittedly old news, it continues to boost gold pricing by way of increased safe-haven flows. Now ongoing for fifteen days, and especially considering the complications to important government data releases, the longer the shutdown continues, the greater the damage to the US economy will increase exponentially. Gold (XAU/USD): Technical Analysis 15/10/2025 Having touched base on the fundamentals, let’s shift our focus to the technicals, starting with the weekly and finishing with the daily. Gold (XAU/USD): Weekly (W) chart analysis: zoom_out_map Gold (XAU/USD) W, OANDA, TradingView, 15/10/2025 With recent price action virtually parabolic, pricing continues in one direction, to the behest of gold bulls. Currently, volatility remains high, with readings from the ATR approaching five-month highs. From a classical technical standpoint, the market is confirming a sustained long-term bullish move, with the 20, 50, 100, and 200-period SMAs all offering support below current price action. It should be noted, however, that prices are likely to retrace somewhat in the near future, although no one can be certain exactly when. As such, the RSI currently trades at its highest level since August 2019, firmly in ‘overbought’ territory. Many will be looking for prices to retreat to get long. Price targets and support/resistance levels: Price target 1: 61.8% Fib: $4,317Price target 2: 50.0% Fib: $4,410Support 1: Trendline: $4,040Support 2: Psychological level: $4,000 Read more precious metal coverage from MarketPulse: Silver (XAG/USD) squeeze shakes market participants Gold (XAU/USD): Daily (D1) chart analysis: zoom_out_map Gold (XAU/USD) D1, OANDA, TradingView, 06/10/2025 With the recent explosive move in metal pricing, it’s no surprise that daily price action continues to trade at the top boundary of the 20-period Bollinger bands. Price targets and support/resistance levels: Price target 1: 78.6% Fib: $4,240Support 1: Trendline: $4,079Support 2: Psychological key level: $4,000Support 3: 20-period SMA: $3,889 Following simple technical analysis theory, this suggests that a retracement towards the midline is inevitable, only being a matter of when. This goes double when considering that the daily price action has been deemed overbought by the 14-period RSI since early September. For now, we can consider a retracement towards $4,000 as a potential entry point, with ample support available below. As traders, we know we shouldn’t try to catch a falling knife, and the same would apply for one shot out of a cannon - some food for thought. Read more coverage from today’s session: EUR/JPY Forecast: Support at 175.00 Holds the Key to Immediate Bullish Continuation Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

According to statements made on CNBC, BlackRock’s spot Bitcoin ETF, IBIT, has topped $100 billion in assets under management less than two years after it launched. That figure marks one of the fastest rises for any ETF in recent memory. It also puts the world’s largest asset manager squarely at the center of institutional Bitcoin holdings. BlackRock Now Holds A Large Share Of Bitcoin Supply Based on reports, BlackRock holds 804,944 BTC. At current, lower market levels, that stash is worth close to $90 billion. When Bitcoin hit an all-time high last week, the same holding was worth more than $100 billion. BlackRock’s position represents 3.83% of Bitcoin’s total supply. For comparison, Strategy (formerly MicroStrategy) owns 640,250 BTC, or 3.048% of supply, according to available figures. Those numbers show how ownership of Bitcoin is shifting toward big financial firms as ETFs and other products bring new capital into crypto markets. Tokenization Push Adds New Dimension Larry Fink told viewers the firm is moving faster into digital assets and that tokenization will be used for a wide range of investments, from property to bonds. BlackRock also manages an Ethereum portfolio valued at more than $17 billion. The company has launched tokenized money market vehicles, and one product called BUIDL has become the largest tokenized cash money market fund, according to the firm. With about $4 trillion reportedly sitting in digital wallets worldwide, BlackRock sees an opportunity to reach investors who prefer digital channels. Institutional Shift In Ownership Is Clear Reports show IBIT’s rapid growth has changed the balance of large holders. Where corporate treasuries and early adopters once dominated ownership, institutional funds now control a rising share. That matters for liquidity and for how large inflows or outflows might affect the market when they happen. It also shifts some power over market behavior to managers who must answer to clients and regulators. Bitcoin Price And Market Conditions Based on market updates, Bitcoin fell below $112,500 on Wednesday. Price action cooled after recent gains, with renewed headwinds including US-China trade tensions and a temporary US government shutdown contributing to weaker sentiment. Analysts say the next few weeks could offer buying chances as funding and perpetual markets calm. Institutional flows into ETFs like IBIT will be watched closely because they can tilt short-term demand. What This Means Going Forward BlackRock’s move signals a larger reality: digital assets are now part of mainstream finance. Fink’s change in tone — from caution to active investment — reflects that shift. The presence of a major manager with hundreds of thousands of BTC and a growing set of tokenized offerings will influence how investors view crypto exposure. Featured image from Michael Nagle/Bloomberg/Getty Images, chart from TradingView

Today, the EUR/CAD pair continues its advance following Friday's rebound from the 1.6170 level, gaining momentum for the second consecutive day. This marks the third day of positive performance in the past four sessions, pushing spot prices above the key 1.6300 level. From a technical standpoint, the breakout above the confluence of the 9-day EMA and 14-day EMA around 1.6280 can be seen as a key bullish signal. Moreover, the oscillators on the daily chart are gathering positive momentum, confirming a constructive outlook for further growth in the EUR/CAD pair. Some follow-through buying beyond the 1.6350 resistance level would reinforce the bullish scenario, opening the way toward the next psychological level at 1.6400. On the other hand, a decline below the confluence of the 9-day and 14-day EMAs, located around 1.6280, would likely find solid support in the 1.6250–1.6245 level. Below that lies the 1.6220 level and the weekly low near the 1.6200 round level — a decisive break below which would negate the bullish bias and shift the momentum in favor of the bears. The material has been provided by InstaForex Company - www.instaforex.com

Yesterday's statements by Federal Reserve Chair Jerome Powell reminded everyone who still had doubts that the regulator has no intention of sitting idly by and waiting for labor market and inflation data before taking action. But apart from the Fed's dovish tone, attention should also be paid to the comments of European Central Bank (ECB) officials — without whom nothing ever happens. ECB Governing Council member Gabriel Makhlouf yesterday dismissed concerns about inflation falling below the 2% target, saying that in fact he is more worried that it might once again rise above that threshold. This provided additional support for the euro, as it reaffirmed the ECB's commitment to a restrictive policy stance. "Overall, I'm more focused on the factors that could push inflation up than on those that could slow it down," said the head of Ireland's central bank. "In these debates about missing the target level, I'm more concerned that we'll end up above, rather than below, 2%." Makhlouf's statement came amid a growing debate about the future of ECB monetary policy. While some analysts predict slowing inflation and are calling for policy easing, others — including Makhlouf — remain cautious about the potential resurgence of inflationary pressures. Arguments in favor of a tighter policy are supported by several factors. First, despite recent declines, inflation in the eurozone remains above target, indicating persistent risks. Second, continued wage growth and steady demand in the economy could create conditions for further price increases. Finally, geopolitical uncertainty and potential supply disruptions stemming from U.S.–China trade tensions also pose a threat to price stability. In response to concerns about falling inflation, Makhlouf emphasized that the ECB's main task is to ensure price stability. He noted that to achieve this goal, it is necessary to maintain a restrictive monetary policy until inflation sustainably returns to the target level. The euro's rise following Makhlouf's remarks indicates that markets view his comments as confirmation of the ECB's commitment to fighting inflation. This could lead to further strengthening of the European currency, which, in turn, might slightly ease inflationary pressure. However, the ultimate impact of these factors on the economy and monetary policy will depend on future developments and the ECB's decisions. Makhlouf's comments also underscore that policymakers remain alert to the uncertainty facing the eurozone economy, even though inflation is hovering near the target level. Several ECB officials have recently said that they see risks to the inflation outlook as balanced. Makhlouf took a different view, saying he believes they are "slightly tilted to the upside." He also stated that the latest economic data gave him more confidence in the ECB's September forecasts, which project GDP growth of 1.2% in 2025 and 1% in 2026. "The situation can change very quickly — remember China's decision to restrict rare earth metal exports and the threat of a 100% tariff from the U.S.," he said. "But putting that aside, the European economy has shown resilience." Technical Outlook for EUR/USDAs for the current technical picture of EUR/USD, buyers now need to think about taking control of the 1.1650 level. Only then will it be possible to aim for a test of 1.1680. From there, the pair could climb to 1.1715, but doing so without support from major players will be quite difficult. The furthest target is the 1.1745 high. In case the instrument declines, I expect significant buying activity only around 1.1615. If no large buyers appear there, it would be better to wait for a renewal of the 1.1580 low or to open long positions from 1.1545. Technical Outlook for GBP/USDAs for GBP/USD, pound buyers need to capture the nearest resistance at 1.3360. Only then will it be possible to aim for 1.3390, above which it will be rather difficult to break through. The furthest target is the 1.3425 level. If the pair falls, the bears will try to take control at 1.3330. If they succeed, a break below this range would deal a serious blow to the bulls' positions and push GBP/USD toward the 1.3290 low, with the prospect of moving down to 1.3250. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Recommendations for Trading the Japanese Yen The price test of 151.30 in the first half of the day occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential. For this reason, I did not buy the dollar. The second test of 151.30 coincided with the MACD being in the overbought zone, triggering Scenario #2 for a sell trade, but the pair never actually declined, resulting in a loss. Today's focus is on the Empire Manufacturing report. Given the lack of any other significant statistics, this release alone may provide insight into the state of the manufacturing sector in the region. Traders are unlikely to react strongly to signs of either slowdown or acceleration in economic activity. The Empire Manufacturing Index is expected to rise slightly compared to the previous period. Afterward, market participants will shift their attention to speeches by FOMC members Christopher Waller and Jeffrey Schmid. Their remarks on the current macroeconomic situation and future prospects for monetary policy will be closely analyzed for hints of potential further interest rate cuts. However, even if their position differs from Federal Reserve Chair Jerome Powell's comments yesterday, the U.S. dollar is still likely to lose ground against the yen. As for the intraday strategy, I will mainly rely on Scenarios #1 and #2. Buy Signal Scenario #1: Today, I plan to buy USD/JPY when the price reaches around 151.52 (green line on the chart), targeting growth to 151.92 (thicker green line on the chart). Around 151.92, I plan to exit buy positions and open sell positions in the opposite direction, aiming for a 30–35 point movement in the reverse direction. A rise in the pair can be expected as part of the ongoing upward trend.Important: Before buying, make sure the MACD indicator is above the zero line and just beginning to rise from it. Scenario #2: I also plan to buy USD/JPY today if there are two consecutive tests of the 151.30 level, at the moment when the MACD is in the oversold area. This will limit the pair's downward potential and lead to a reversal upward. Growth can be expected toward the opposite levels of 151.52 and 151.92. Sell Signal Scenario #1: Today, I plan to sell USD/JPY after it breaks below 151.30 (red line on the chart), which will lead to a quick decline in the pair. The key target for sellers will be 150.85, where I plan to exit short positions and immediately open buy positions in the opposite direction (expecting a 20–25 point upward movement from that level). Downward pressure on the pair may return if Fed officials adopt a dovish stance.Important: Before selling, make sure the MACD indicator is below the zero line and just starting to fall from it. Scenario #2: I also plan to sell USD/JPY today if there are two consecutive tests of the 151.52 price level, at the moment when the MACD is in the overbought area. This will limit the pair's upward potential and lead to a downward reversal. A decline can be expected to the opposite levels of 151.30 and 150.85. What's on the Chart: Thin green line – entry price where you can buy the trading instrument;Thick green line – projected price where you can set a Take Profit or manually lock in profits, as further growth above this level is unlikely;Thin red line – entry price where you can sell the trading instrument;Thick red line – projected price where you can set a Take Profit or manually lock in profits, as further decline below this level is unlikely;MACD indicator – when entering the market, it is important to consider overbought and oversold zones.Important Note Beginner traders in the Forex market should make entry decisions with great caution. Before the release of major fundamental reports, it's best to stay out of the market to avoid sudden price volatility. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-losses, you can lose your entire deposit very quickly — especially if you don't apply money management and trade with large volumes. And remember: for successful trading, you must have a clear trading plan, like the one presented above. Making spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Recommendations for Trading the British Pound The price test of 1.3367 occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential. For this reason, I did not buy the pound. Comments from Bank of England officials did not help the pound rise. Investors, who are seeking clearer signals on the future course of monetary policy, heard nothing new — only restrained statements. Today, attention will focus on the Empire Manufacturing Index, which may shed light on the state of industry in the region and, indirectly, across the country. Investors are extremely sensitive to any signs of a slowdown or acceleration in economic activity, as this directly affects the outlook for corporate earnings and, consequently, the movement of stock indexes. The Empire Manufacturing Index is expected to show a slight improvement compared to the previous month. However, only a significant deviation from forecasts could trigger a sharp market reaction. After that, investors' attention will shift to speeches by Federal Open Market Committee (FOMC) members Christopher Waller and Jeffrey Schmid. Their comments on the current macroeconomic situation and the outlook for monetary policy will be closely analyzed for hints of further interest rate cuts — a topic mentioned yesterday by Fed Chair Jerome Powell. As for the intraday strategy, I will mainly rely on scenarios #1 and #2. Buy Signal Scenario #1: Today, I plan to buy the pound when the price reaches around 1.3362 (green line on the chart), targeting growth to 1.3398 (thicker green line on the chart). Around 1.3398, I plan to close buy positions and open sell positions in the opposite direction, aiming for a 30–35 point movement in the opposite direction. A strong rise in the pound can be expected today if the upward trend continues.Important: Before buying, make sure the MACD indicator is above the zero line and just starting to rise from it. Scenario #2: I also plan to buy the pound today if there are two consecutive tests of the 1.3342 price level, at the moment when the MACD is in the oversold area. This will limit the pair's downward potential and lead to a reversal upward. Growth can be expected to the opposite levels of 1.3362 and 1.3398. Sell Signal Scenario #1: Today, I plan to sell the pound after it breaks below 1.3342 (red line on the chart), which will lead to a rapid decline in the pair. The main target for sellers will be 1.3304, where I plan to exit sell positions and immediately open buy positions in the opposite direction (expecting a 20–25 point movement upward from that level). The pound could weaken in the second half of the day.Important: Before selling, make sure the MACD indicator is below the zero line and just starting to fall from it. Scenario #2: I also plan to sell the pound today in the case of two consecutive tests of the 1.3362 price level, at the moment when the MACD is in the overbought area. This will limit the pair's upward potential and lead to a downward reversal. A decline can be expected to the opposite levels of 1.3342 and 1.3304. What's on the Chart: Thin green line – entry price where you can buy the trading instrument;Thick green line – projected price where you can set a Take Profit or manually secure profits, as further growth above this level is unlikely;Thin red line – entry price where you can sell the trading instrument;Thick red line – projected price where you can set a Take Profit or manually secure profits, as further decline below this level is unlikely;MACD indicator – when entering the market, it's important to consider overbought and oversold zones.Important Note Beginner traders in the Forex market should make entry decisions with great caution. Before the release of important fundamental reports, it's best to stay out of the market to avoid sudden price swings. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-losses, you can lose your entire deposit very quickly — especially if you don't use money management and trade large volumes. And remember: for successful trading, you must have a clear trading plan, like the one presented above. Making spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

The run in Silver prices has been nothing short of extraordinary. Since the start of the year, the metal has surged more than 80%, with most of the move unfolding after Powell’s late-August speech at Jackson Hole (+37% in a 44-day span). Having broken its 2011 record highs of $49.81, Silver now trades comfortably above $50, and definitely cementing its seat as one of the most explosive rally in more than a decade. Beyond speculation, Silver’s industrial demand — particularly in photovoltaic panels, EVs and advanced electronics — is driving the squeeze. Supply issues are mounting, with growing fears that the metal’s rarity could lead to some disastrous developments for the precious metal. Traders are increasingly nervous. Some metal specialists like Brian Kuszmar admit they have never witnessed a market this volatile, not even during the infamous 1980s Silver boom. zoom_out_map Brian Kuszmar, metal specialist since 1977 – Source: X – October 15, 2025 The parabolic rise now raises one big question — will something blow from this rally? Read More:What if there was no trend in the US Dollar ? DXY OutlookThe Powell/TACO combo lifts Wall Street from early lossesEUR/JPY Forecast: Support at 175.00 Holds the Key to Immediate Bullish ContinuationSilver (XAG/USD) multi-timeframe analysisDaily Chart zoom_out_map Silver (XAG) 2-Day Chart, October 15, 2025 – Source: TradingView Looking out on higher timeframes really mark how strong the rally is. The move is becoming more parabolic as time goes but we haven't seen widespread market panic for now: What can happen in the strongest squeezes is a development of higher-gaps on very thin volumes. Volumes are indeed getting thinner as the rally continues but things are not too out of whack. Up 3% at one point in today's session, some stalling has happened at a test of the $53.71 high timeframe 1.618% Fibonacci-extension (session highs). Reactions don't imply sudden reversals, but it's essential to keep this level in view for reversal/breakout analysis. Let's take a closer look. 8H Chart and levels zoom_out_map Silver (XAG) 8H Chart, October 15, 2025 – Source: TradingView The price action is slowing around the current highs after yesterday's strong profit-taking bar. For now, a convergence of a lower high forming with the same pattern on the RSI prompts some slowdown in the silver-rush. Keep an eye on the upward trendline that could come into play on a retracement, particularly as it comes close to the $49.81 2011 record that hasn't been retested. Levels to watch for Silver (XAG) trading: Resistance Levels: Daily peak $53.71$52 to $54 current ATH resistancePotential resistance 1 $57.50 to $60 (1.382% from 2022 lows)Potential resistance 2 $62 to $65 (1.618 from Impulsive Move)Support Levels: $48 to $49 2011 High Pivot$43 to $44 higher timeframe support$39.50 to $40 higher tf momentum pivot zone2012 Highs Support around $37.501H Chart zoom_out_map Silver (XAG) 1H Chart, October 15, 2025 – Source: TradingView Despite the lower high formation, the price action is still consolidating close to the hourly resistance – This marks bull resilience. Keep an eye on the 50-H MA, currently at $52.12. An hourly close below would confirm a retracement to at least the previous ATH level at $49.80. However, a daily close above would maintain the upward trajectory. Safe Trades! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Sustainability organization Copper Mark is moving to develop a single mining standard across various metal supply chains and form a new board with wider representation. The UK-based organization released on Wednesday a call for applications for a new chair who will head a 17-member board – up from seven members – as Copper Mark in 2026 takes over the Consolidated Mining Standard, Assurance Process and Claims Policy. “The independent chair will play a critical role to uphold the integrity of the Copper Mark and ensure we continue to drive performance improvements across and along mineral and metal value chains,” Copper Mark executive director Michèle Brülhart said in a release. Founded in 2019, Copper Mark independently assesses and certifies red metal producers for environmental, social and governance (ESG) performance. Its remit has expanded to molybdenum, nickel and zinc producers. About 40% of copper mined globally comes from sites assured by Copper Mark. Standards initiative Governments, manufacturers and investors are increasingly demanding greater traceability and proof of responsible production in the energy-transition supply chain. The interest comes as numerous studies, forecasts and estimates see limited copper supply while demand and prices rise. Along with London-based partners the World Gold Council, and the International Council on Mining and Metals, as well as the Mining Association of Canada, Copper Mark is writing up the Consolidated Mining Standards Initiative (CMSI) to have it ready for next year. The CMSI seeks to develop a global standard that simplifies and clarifies responsible practices for mining companies across locations and commodities. The intended effect is to cut extra audits and replace them with one process. Holders of current Copper Mark accreditation include Freeport-McMoRan (NYSE: FCX) for its Grasberg operation in Indonesia. The Copper Mark has also recognized Anglo American (LSE: AAL; JSE: AGL) for its Los Bronces, El Soldado and Chagres operations in Chile, and Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) for its Highland Valley Copper mine in British Columbia. Capstone Copper (TSX: CS; ASX: CSC) has had its Mantoverde and Mantos Blancos mines in Chile certified with “Awarded” status under the Copper Mark. Aurubis has achieved certification for its Olen smelting and refining site in Belgium. Boliden holds “Awarded” status for its Rönnskär smelter and refinery in Sweden. CMSI changes Part of the CMSI evolution includes a changing governance structure, name and business scope, Copper Mark said. Members of the independent board are to represent commercial and non-commercial interests from mining and the downstream value chains to solidify distance from commodity associations. The CMSI’s development has been driven by public consultation, with a session last week receiving feedback on the Consolidated Standard, Assurance Process and Claims Policy. The last public consultation in the form of public webinars across different time zones is slated for Nov. 17.

Analysis of Trades and Tips for Trading the European Currency The price test of 1.1630 occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential. For this reason, I did not buy the euro. The decline in industrial output in the eurozone countries, though expected, turned out to be less significant than analysts had predicted, allowing the European currency to maintain a positive trend against the U.S. dollar. However, the pair also did not see any major growth. The euro's rate was influenced in two ways: on the one hand, industrial figures that were better than expected supported the currency; on the other hand, the ongoing contraction puts the ECB in a more difficult position. This afternoon, the release of the Empire Manufacturing Index will be a separate event, but the main focus of market participants will be on speeches by Federal Reserve representatives — Christopher Waller and Jeffrey Schmid. Considering the dovish tone of the Fed Chair's speech yesterday, it's unlikely that we'll hear anything new from Waller and Schmid today. The Empire Manufacturing Index will have even less impact on the market. Disappointing figures will only once again confirm the Fed's correct stance on further rate cuts, which will weaken the dollar. As for the intraday strategy, I will mainly rely on scenarios #1 and #2. Buy Signal Scenario #1: Today, you can buy the euro when the price reaches around 1.1641 (green line on the chart), targeting growth to the level of 1.1671. At 1.1671, I plan to exit the market and also sell the euro in the opposite direction, aiming for a movement of 30–35 points from the entry point. A euro rise today can be expected only after dovish statements from Fed representatives.Important: Before buying, make sure the MACD indicator is above the zero line and just starting to rise from it. Scenario #2: I also plan to buy the euro today if there are two consecutive tests of the 1.1615 price level, at the moment when the MACD is in the oversold area. This will limit the pair's downward potential and lead to a reversal of the market upward. Growth can be expected to the opposite levels of 1.1641 and 1.1671. Sell Signal Scenario #1: I plan to sell the euro after reaching the level of 1.1615 (red line on the chart). The target will be 1.1588, where I intend to exit the market and immediately buy in the opposite direction (expecting a movement of 20–25 points in the opposite direction from this level). Downward pressure on the pair is unlikely to return today.Important: Before selling, make sure the MACD indicator is below the zero line and just starting to fall from it. Scenario #2: I also plan to sell the euro today in the case of two consecutive tests of the 1.1641 price level, at the moment when the MACD is in the overbought area. This will limit the pair's upward potential and lead to a downward reversal of the market. A decline can be expected to the opposite levels of 1.1615 and 1.1588. What's on the Chart: Thin green line – entry price where you can buy the trading instrument;Thick green line – the projected price where you can set Take Profit or manually fix profit, since further growth above this level is unlikely;Thin red line – entry price where you can sell the trading instrument;Thick red line – the projected price where you can set Take Profit or manually fix profit, since further decline below this level is unlikely;MACD indicator – when entering the market, it is important to follow overbought and oversold zones.Important Note Beginner traders in the Forex market should make entry decisions with great caution. Before the release of important fundamental reports, it's best to stay out of the market to avoid getting caught in sharp price fluctuations. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-losses, you can lose your entire deposit very quickly — especially if you don't use money management and trade large volumes. And remember: for successful trading, you must have a clear trading plan, like the one presented above. Making spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

Allied Gold (TSX: AAUC, NYSE: AAUC) soared to an all-time high on Wednesday after the company reported its preliminary results for the third quarter of 2025, showing production in line with expectations but at lower costs. During the three months, Allied produced over 87,000 oz. of gold across its three African mines, a figure that is in line with expectations. This, says the Toronto-based miner, will “fully support strong production in the fourth quarter as previously guided.” Importantly, the company noted that its all-in sustaining costs have materially improved, which in turn is expected to drive an 80% increase in AISC margins. At approximately $2,100/oz., the AISC is estimated to be 10% lower compared to the AISC realized in the second quarter, despite higher royalties due to rising gold prices. Following the Q3 results release, Allied Gold jumped as much as 7% to C$28.64 apiece in Toronto, a new high. By 11:40 a.m. ET, the stock had pulled back to around C$28.14 with a market capitalization of C$3.24 billion ($2.3 billion). Guidance intact According to management, gold production for the fourth quarter is expected to be the highest of the year, driven mainly by higher grades across all operations and the Phase 1 expansion at its Sadiola mine in Mali, for which commissioning is expected in December. With these improvements, Allied expects its production to surpass 375,000 oz. this year, within its 2025 guidance and consistent with the broader outlook of 375,000 to 400,000 oz. per annum. While a formal guidance for 2026 has yet to be provided, the company said it is targeting annual production at the high end of the outlook range with more consistent quarter-over-quarter performance. In its press release, Allied also noted that the planned operational improvements and mine sequencing this year are expected to drive further meaningful cost improvements. As of Sept. 30, 2025, the company’s cash balances exceeded $260 million, it said.

Solana Price has been ranging for a year and a half, while .cwp-coin-chart svg path { stroke-width: 0.65 !important; } .cwp-coin-widget-container .cwp-graph-container.positive svg path:nth-of-type(2) { stroke: #008868 !important; } .cwp-coin-widget-container .cwp-coin-trend.positive { color: #008868 !important; background-color: transparent !important; } .cwp-coin-widget-container .cwp-coin-popup-holder .cwp-coin-trend.positive { border: 1px solid #008868; border-radius: 3px; } .cwp-coin-widget-container .cwp-coin-trend.positive::before { border-bottom: 4px solid #008868 !important; } .cwp-coin-widget-container .cwp-coin-price-holder .cwp-coin-trend-holder .cwp-trend { background-color: transparent !important; } .cwp-coin-widget-container .cwp-graph-container.negative svg path:nth-of-type(2) { stroke: #A90C0C !important; } .cwp-coin-widget-container .cwp-coin-popup-holder .cwp-coin-trend.negative { border: 1px solid #A90C0C; border-radius: 3px; } .cwp-coin-widget-container .cwp-coin-trend.negative { color: #A90C0C !important; background-color: transparent !important; } .cwp-coin-widget-container .cwp-coin-trend.negative::before { border-top: 4px solid #A90C0C !important; } Solana SOL $197.65 5.25% Solana SOL Price $197.65 5.25% /24h Volume in 24h $9.88B Price 7d .On this Daily timeframe we can see that price formed a bottom in the first half of 2025 and in the second half, so far, it has broken into bullish market structure with a Higher High achieved in September and a Higher Low that retested MA200. This is a great set-up for an upward continuation. Market Cap 24h 7d 30d 1y All Time Solana Price Is In Pre-ATH Accumulation? (Source – Tradingview, SOLUSD) On the Weekly timeframe, Solana has been in an easily identifiable range between $120-$260. That is range spanning $140! We can see an SFP of 2021 ATH, followed by a deviation that placed the low for 2025. Moving Averages are in an uptrend and during the volatile Friday last week, price retested MA100 and the candle closed above MA50 again. It looks like a consolidation before a break of this range. And the untested area might remain untested if the low ($120) of this range remains unbroken. RSI can move up freely. DISCOVER: Top 20 Crypto to Buy in 2025 (Source – Tradingview, SOLUSD) Next, we will analyse the 1D chart. Here we can identify a few more support and resistance zones at ~$180 and ~$210. The moving averages are now in uptrend formation and MA200 acted as support over the past few days. RSI has been completely reset and is making its way to the upper half of its range. DISCOVER: Next 1000X Crypto – Here’s 10+ Crypto Tokens That Can Hit 1000x This Year Will SOL Hit a New ATH Soon? (Source – Tradingview, SOLUSD) Last chart for today’s analysis will be on the 4H timeframe. We are able to see a bit more detail here on how last Friday painted the chart. Here we have a confirmed MSB. In last week’s article a sell-off scenario was discussed that would reject the deviation case. And that is what happened. The bearish orderblock happen to be a strong resistance and once price dropped below all Moving Averages – it went down with haste. For now, the $180 support level is holding. Though Solana Price has work to do – regain $220 and trade above all MAs, before a stronger upward impulse. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Join The 99Bitcoins News Discord Here For The Latest Market Update SOL USD Consolidating Before A Breakout: New ATH Soon? SOL USD price still ranging in the $200s. RSI on 1D and 1W has space to grow, as well as on 4H Bearish Orderblock between $235-$240 got tested and rejected which led to a massive sell-off Decision week for Solana ETFs – could impact price Reclaim of all MAs on 4H and $220 is key in order to see new ATH The post Solana Price Consolidating Before A Breakout: New ATH Soon? appeared first on 99Bitcoins.

Fortuna Mining (TSX: FVI; NYSE: FSM) says a preliminary economic assessment (PEA) for the Diamba Sud gold project in Senegal shows the Canadian miner could recoup its investment in less than a year. Using a gold price of $2,750 per oz. and a discount rate of 5%, the study shows an after‑tax net present value of $563 million, an internal rate of return of 72% and a payback of about 0.8 years, Fortuna said Wednesday in a statement. Initial capital costs to develop Diamba Sud are pegged at $283.2 million. The PEA represents “a positive rerating catalyst that unlocks the viability over Fortuna’s organic growth opportunities and target to reach about 500,000” gold-equivalent ounces, National Bank Financial mining analyst Mohamed Sidibé said Wednesday in a note. “The improved production profile from 2028 and beyond should be well received by the market.” Fortuna is counting on Diamba Sud to help it reverse an output drop triggered by the recent sale of operations in Mexico and Burkina Faso. Fortuna expects to produce up to 339,000 gold-equivalent oz. in 2025, down from a record 456,000 oz. last year. Shares of Fortuna rose 6.4% to C$13.70 Wednesday morning in Toronto, their highest intraday level since the stock began trading in 2010. They have more than doubled this year, boosting the company’s market value to about C$4.2 billion. Construction decision Vancouver-based Fortuna expects to make a construction decision for Diamba Sud right after publishing a feasibility study, which the company wants to complete by mid-2026. Assuming a positive decision, full construction would start in next year’s fourth quarter, after the rainy season. First gold pour would be targeted for the second quarter of 2028. Diamba Sud is expected to produce 840,000 oz. gold over the mine’s 8.1-year life, averaging 106,000 oz. a year at an all-in sustaining cost of $1,238 per ounce. Future exploration success could extend the mine’s life beyond a decade, the company said. The project holds 14.2 million indicated tonnes grading 1.59 grams gold per tonne for contained metal of 724,000 oz., according to a 2025 resource. Inferred resources are pegged at 6.2 million tonnes grading 1.44 grams gold for contained metal of 285,000 ounces. Open pit Fortuna plans to build an open-pit mining operation that would feed a conventional carbon-in-leach processing plant. It would develop multiple deposits at Diamba Sud, including Area A, Area D, Karakara, Western Splay, Kassassoko, Moungoundi and Southern Arc, with no more than three pits mined at any one time. Initial throughput is projected to hit 2.5 million tonnes a year during the first three years of operation, supported by the high oxide content at Area D. Annual throughput would then slow to 2 million tonnes from year 4 onward as the feed becomes predominantly fresh material. The initial capital cost projection includes $4 million in capitalized closure costs to be deposited into escrow and a $46.4 million contingency, Fortuna also said. Sustaining capital is estimated at $40 million, while closure costs are estimated at $8 million. Diamba Sud sits in the Kenieba-Koudougou inlier, an area straddling eastern Senegal and western Mali that hosts several large gold deposits. Fortuna inherited the project in 2023 when it acquired Africa-focused explorer Chesser Resources.

The Dogecoin price has received a major boost following House of Doge’s announcement of its plans to list on the Nasdaq. The firm revealed that the deal is backed by $50 million, suggesting it could inject fresh liquidity into the Dogecoin ecosystem. Dogecoin Sees Fresh $50M Liquidity As House of Doge Secures Nasdaq Listing In a press release, House of Doge announced that it has secured a Nasdaq listing through a merger with Brag House Holdings, a deal backed by over $50 million in investment capital, which is a positive for Dogecoin. Brag House will acquire House of Doge in a reverse takeover transaction, which is subject to approval from both companies’ boards of directors. House of Doge, the commercial arm of the Dogecoin Foundation, noted that this proposed merger will advance mainstream Dogecoin adoption and institutionalize the meme coin’s utility. The firm also highlighted how it boasts 837 million DOGE within its framework, representing the largest institutional Dogecoin holdings in the global crypto ecosystem. House of Doge has already built an institutional foundation for the Dogecoin ecosystem through its partnerships with 21Shares, Robinhood, and CleanCore Solutions. The firm played a key role in helping CleanCore set up its Dogecoin treasury. Now, the firm is looking to deepen the push for the institutional adoption of DOGE and has secured $50 million to boost the meme coin’s ecosystem. House of Doge revealed that it plans to use this capital to lay the foundation for a “scalable, transparent, and yield-producing Dogecoin economy” for both institutional investors and the DOGE community. The firm also confirmed that the newly combined entity will hold a “significant amount of Dogecoin within its framework,” indicating that some of the capital it secured will be used to purchase DOGE. Catalyst For A DOGE Rally The House of Doge’s proposed merger could serve as one of the catalysts for an explosive Dogecoin rally to new highs. The firm has outlined several ways it plans to boost DOGE’s institutional adoption, which could spark more institutional inflows into the meme coin’s ecosystem. Notably, this comes amid the imminent launch of the Dogecoin ETFs, which are expected to drive fresh liquidity into DOGE. Crypto analyst The Historical Performance That Says Dogecoin Price Will Hit $11.71 By End Of Year, that the meme coin could rally to as high as $0.6533 even as the institutional catalysts line up for Dogecoin. From a technical perspective, the analyst stated that DOGE’s uptrend remains intact and that, as prices hold above a major resistance trendline, the target remains $0.6533. He added that the uptrend can spark a run of over 200% to reach this target. At the time of writing, the Dogecoin price is trading at around $0.2, down in the last 24 hours, according to data from CoinMarketCap.

Gold scaled another all-time high on Wednesday, surpassing the $4,200-per-ounce mark for the first time, as US rate cut expectations and geopolitical jitters continue to drive up demand for the safe-haven metal. Spot gold advanced as much as 1.6% to $4,217.95 per ounce, surpassing its previous record high from earlier this week. US gold futures also shot up 1.6% to $4,235.80 an ounce in New York. Click on chart for live prices. Gold has been trending up in recent weeks amid expectations that the US Federal Reserve will deliver another interest rate cut this month. Since August, the month leading up to the Fed’s September cut, bullion has risen by more than a quarter. Over recent sessions, the yellow metal has gained further momentum as a souring relationship between the US and China once again alarmed investors, elevating the appeal of safe havens such as gold. “With US-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long equity bets by diversifying into gold,” Fawad Razaqzada, an analyst at City Index and FOREX.com, told Reuters. “With the $5,000 handle now just $800 away, I wouldn’t bet against gold getting there eventually,” Razaqzada said, adding that a short-term correction is likely to shake out weaker hands and attract fresh dip buyers. Meanwhile, the market continues to monitor the ongoing US government shutdown, which has halted official data and may cloud policymakers’ outlook abroad. On Tuesday, Fed Chair Jerome Powell struck a dovish tone, stating that the US labour market remained mired in “low-hiring, low-firing doldrums.” Traders are currently pricing in a 25-basis-point Fed rate cut in October with a 98% probability, followed by another cut in December, which is fully priced in at 100%, according to Reuters. With Wednesday’s gains, gold has now risen 58% this year, driven by a confluence of factors including geopolitical tensions, rate cut bets, central bank buying, de-dollarization and strong ETF inflows. (With files from Reuters) Sponsored: Secure your wealth today — buy gold bullion directly through our trusted partner, Sprott Money.