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Join OANDA Market Analyst Kenny Fisher, Nick Syiek (TraderNick) and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. 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.

Binance is once again in the spotlight as its native token, BNB, tests a crucial level after recently reaching fresh all-time highs. The momentum has been strong, with bulls showing resilience and holding price action above former resistance, now turned into support. This behavior signals the continuation of a broader bullish trend, one that has defined Binance’s performance through much of 2025. However, what makes this moment even more significant is not only the price but also the underlying fundamentals of the BNB ecosystem. Top analyst Darkfost highlighted a major milestone that underscores BNB’s growing adoption. The BNB Chain has officially crossed 650 million unique addresses—wallets that have carried out transactions on the network. This achievement is a true testament to the scale of Binance’s reach in the blockchain space and highlights the network’s growing importance in global crypto adoption. Such growth in user activity mirrors the strong price action seen this year, reinforcing the narrative that BNB remains one of the most widely used and trusted blockchains in the industry. With bulls defending critical levels and network adoption soaring, Binance now faces a pivotal stage that could determine the sustainability of its current bullish trend. Binance Adoption And Market Outlook According to Darkfost, Binance’s latest milestone of surpassing 650 million unique addresses is more than just a number—it is a testament to adoption, user activity, and the strong interest surrounding the Binance ecosystem. This achievement underscores how deeply embedded BNB has become within the broader blockchain space, solidifying its reputation as one of the most widely used networks globally. From a market perspective, Binance continues to stand out as one of the few altcoins that has already exceeded its previous 2021 all-time highs, doing so back in June 2024. This makes BNB unique compared to most other large-cap cryptocurrencies, which are still battling to reclaim their former peaks. Holding above these levels reinforces investor confidence and highlights the strength of its underlying fundamentals, especially given the network’s rapid adoption and consistent activity growth. Analysts broadly agree that the uptrend for BNB is intact and likely to continue if adoption metrics remain strong. However, there is a recognition that broader market conditions could still introduce risk. A potential correction across crypto markets could bring BNB back to retest lower support levels, even if its fundamentals remain solid. For now, the balance between bullish momentum and market-wide caution will define Binance’s short-term trajectory. BNB Price Testing Momentum After ATH The chart shows Binance Coin (BNB) trading around $853 after pulling back slightly from recent highs near $880. Despite the correction, BNB remains firmly above its key moving averages, with the 50-day SMA trending strongly upward and providing dynamic support around the $780–$800 region. This setup reflects a healthy bullish structure, with the coin consolidating after an extended rally. The breakout above $800 earlier in August marked a critical moment, pushing BNB into new all-time high territory not seen since June 2024. While short-term momentum has cooled, the higher lows established since mid-July suggest that bulls are maintaining control. For now, immediate resistance lies at $880, the recent peak, while support rests at $820 and further down at $780. If BNB holds above the $820–$800 zone, the bullish case remains intact, with a possible retest of the $900 level in the coming weeks. However, a break below $780 could invite a deeper correction toward $700, especially if broader market conditions turn risk-off. BNB remains one of the strongest large-cap performers, but volatility will likely persist as it tests this new range. Featured image from Dall-E, chart from TradingView

Gold prices have extended their weekly gains to 3.5% and also a seventh successive green trading day. With bond yields rising and interest rate cuts coming, market participants are facing a host of uncertainties. Add to the mix the renewed uncertainty around US tariffs with many of them ruled illegal by a Federal appeals court last Friday and market jitters are at a peak. Rate Cut Expectations Continue to Rise The current macro economic backdrop is a complicated one. Recent developments globally continue to point toward unfavorable scenarios from fiscal issues in Europe and Fed independence concerns in the US. Since Fed Chair Powell's Jackson Hole speech, rate cut expectations have continued to rise. Fed Chair Powell de facto admitted that employment risks have overtaken inflation concerns underlining the importance of Friday's jobs data. Most Read: GBP/USD Forecast: Cable Recovers but the Outlook Remains Murky. WIll NFP Data Serve as a Catalyst? It would take an extraordinary print to dampen market expectations significantly with the Fed expected to cut rates by 25 bps at the upcoming September 17 Fed meeting. LSEG data currently shows a 95% probability while the implied rate has also seen potential rate cuts climb from around 40 bps to around 57 bps through December 2025. Source: LSEG Any decision by the Fed may also come with a bit of controversy. Given that inflation remains well above the Fed target of 2% (despite comments by some Fed policymakers of a higher neutral rate moving forward), the discussion will be around whether the decision has been influenced by US President Donald Trump and the Feds independence. The constant attacks on the Fed by the Trump administration as well as the firing of Lisa Cook have raised many eyebrows. Gold ETF Inflows Soar, Geopolitical Risks Rise Market participants have been putting a lot of money into exchange-traded funds (ETFs) that are backed by gold. The SPDR Gold Trust GLD, which is the biggest gold ETF, reported that its gold holdings have gone up to 977.68 tons. This is a 12% increase for the year and the highest it's been since August 2022. While another factor aiding Gold's surge is increasing Geopolitical risk. The Russia/Ukraine situation continues to bubble as European leaders maintain a combative approach and President Putin continues to blame the West for the conflict. Comments this week from both Saudi sources and UAE sources around Israel and the occupation of Gaza City and potential annexation of the West Bank threaten further turmoil in the Middle East. “Annexation in the West Bank would constitute a red line for the UAE,” Lana Nusseibeh, Assistant Minister for Political Affairs at the UAE’s foreign ministry, said in a statement. “It would severely undermine the vision and spirit of (the Abraham) Accords, end the pursuit of regional integration, and would alter the widely-shared consensus on what the trajectory of this conflict should be – two states living side by side in peace, prosperity, and security.” These renewed risks are all adding to the current pot of risks which are brewing and keeping market participants on edge and safe haven flows strong. How far can this rally go? Well the NFP will give us an answer. A poor NFP print could increase expectations for a 50 bps cut which, no matter how unlikely, could inject further fuel to the Gold rally. A strong print will have an impact but unless it is something out of this world is unlikely to lead to a huge correction. The size and pace of the rally could see a surge in profit taking post NFP which should also be considered. Technical Analysis - Gold (XAU/USD) From a technical standpoint, it is very difficult to pick a top at the moment. Not to mention that the lack of historical price action makes it near impossible. In such cases and for Gold I tend to focus on the whole numbers (psychological) and the 25, 50, 75 areas as potential support resistance areas. What I mean is I look at 35753550 or 3525 etc. Looking ahead, the first point of interest will be the 3600 mark before the 3625 and 3650 areas catch my attention. Looking at the downside, it's a similar story. Gold (XAU/USD) Daily Chart, September 3, 2025 Source: TradingView (click to enlarge) Dropping down to a one hour chart for any help identifying short-term support areas. There was a spike and rejection twice around the 3546 area which rests just below an area I like which is 3550. Below that we have the 3527 spot and then the 50-day MA may come into focus which rests at 3515. Gold (XAU/USD) One-Hour Chart, September 3, 2025 Source: TradingView (click to enlarge) Client Sentiment Data - XAU/USD Looking at OANDA client sentiment data and market participants are Short on Gold with 69% of traders net-short. I prefer to take a contrarian view toward crowd sentiment and thus the fact that the majority of traders are net-short suggests that Gold prices could continue to rise in the near-term. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda 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 XRP price remains a major focus in the crypto market, with analysts and traders often debating its long-term trajectory. A fresh report from crypto exchange Changelly has provided a new perspective, offering detailed projections for XRP’s future performance. The report reveals when the cryptocurrency could finally surpass the $2,000 milestone, alongside expectations for short- and long-term price action. XRP Price Forecasted To Surpass $2,200 By 2040 According to Changelly’s latest price analysis released on September 2, XRP is projected to surpass $2,000 in November 2040. Analysts at the exchange forecast that XRP could hit a maximum price of $2,215 in December 2040, marking a period of sustained explosive growth. In the same year, the minimum price is estimated at $1,825, while the average trading level is anticipated to reach approximately $1,969. What makes this bullish forecast even more striking is that in the years leading up to 2040, XRP is expected to remain below $130. This suggests that the token could undergo an unprecedented growth spurt by the time it reaches $2,000, potentially surging between 1,430% and 73,979% from its projected 2026-2034 range. If a rally above $2,000 is realized, 2040 would be a transformative year for XRP, as it would mark the first time the token enters the quadruple-digit territory. Looking further ahead, Changelly projects that by 2050, XRP could climb even higher, reaching a maximum value of $2,840 by December. Analysts at the exchange expect the token’s average price in that year to stabilize around $2,604, while the minimum price could be approximately $2,485. While these projections suggest that volatility will remain a part of XRP’s performance, it’s overall growth prospects point toward a significantly higher valuation. Changelly’s XRP Price Forecast For 2025 While Changelly’s long-term price forecast highlights XRP’s explosive potential, its technical analysis for 2025 paints a more cautious picture. The exchange predicts that in 2025, XRP could decline to a minimum value of $2.49 and a maximum of $2.82, with an average trading price of $3.14. Currently, the cryptocurrency is trading at $2.83, meaning its growth for this year is expected to be limited. Changelly notes that XRP’s recent market performance has been relatively muted. It has declined by 3.65% over the past week after erasing about $0.05 from its value within the last month. This downturn has placed the cryptocurrency in a dip, with analysts interpreting it as a short-term buying opportunity. Technical indicators like the Moving Averages (MA) reinforce XRP’s bearish price action. Changelly notes that the 50-day MA is trending downward on the four-hour chart, pointing to weakening short-term momentum. The 200-day MA, which began declining in late August 2025, also signals ongoing pressure in XRP’s longer-term trend. The crypto exchange also highlights that XRP’s market sentiment is 60% bearish, with a Fear & Greed Index score of 49, signaling neutrality but edging toward fear.

The World Gold Council (WGC), in partnership with law firm Linklaters and Hilltop Walk Consulting, has released a white paper proposing a new framework for how gold is owned, traded, and used in financial markets. At the core of the proposal are Pooled Gold Interests (PGIs), which would allow investors to hold fractional, digital claims on physical gold stored in approved vaults. The system is designed to merge the security of allocated gold with the ease of trading associated with unallocated accounts, while reducing credit risk. PGIs would also be electronically transferable, opening the door for gold to be more widely used as collateral or margin. In today’s wholesale market, over-the-counter gold trades are settled in two main structures. The first is allocated gold, which gives investors direct ownership of specific physical bars but is operationally complex. The second is unallocated gold, which offers greater liquidity and lower costs but exposes investors to the credit risk of the institution holding the account. According to the World Gold Council, the proposed Wholesale Digital Gold ecosystem would bridge the gap between these two models. The plan builds on previous modernization efforts, including the Gold Bar Integrity programme, which applies blockchain technology to track the origin of gold bars and improve transparency. Gold price sets another record Gold extended gains to a new all-time high on Wednesday, powered by growing bets on a US interest rate cut, as the market weighs key economic indicators ahead of the Federal Reserve meeting in two weeks. Spot gold rose another $30 to $3,560.85 an ounce, setting records on back-to-back days. US gold futures also peaked at $3,627.70 per ounce in New York. Click on chart for live prices.

Bitcoin is once again at the center of market turbulence, trading just above the $110,000 level, which many analysts view as a critical zone of demand. While BTC is holding this support for now, volatility has surged as bears increase pressure and investor sentiment grows cautious. The market is closely watching whether Bitcoin can maintain its footing or if a deeper correction will unfold. One of the biggest factors fueling this uncertainty is the recent capital rotation from Bitcoin to Ethereum, a shift that has rattled Bitcoin loyalists. Ethereum’s resilience and whale accumulation have put BTC under additional scrutiny, raising fears that Bitcoin’s dominance in the market could weaken if the trend continues. Adding to the caution, top analyst Axel Adler highlighted fresh data showing a surge in BTC+ETH inflows to exchanges following Bitcoin’s all-time high of $124,000. At the same time, stablecoin inflows lagged significantly, signaling that the recent increase in supply on exchanges was not met with fresh liquidity. This imbalance often points to profit-taking and excess selling pressure. Bitcoin Inflow Ratio Signals Bearish Setup According to Adler, the recent weakness in Bitcoin is strongly linked to exchange flow dynamics. He points to the Inflow Ratio (BTC+ETH ÷ Stablecoins), a key indicator that measures the balance between major crypto inflows and stablecoin liquidity. Recently, this ratio spiked to 4.0×, coinciding with a wave of selling pressure and a noticeable price pullback. Adler explains this as a classic case of excess supply overwhelming fresh liquidity, a dynamic that has historically placed downward pressure on Bitcoin. Since then, the ratio has eased to around 2.7× on a 7-day moving average, and inflow volumes of majors have cooled to approximately $5 billion per day. While this marks an improvement from the extremes, it still signals that inflows of BTC and ETH are relatively high compared to the stablecoin capital available to absorb them. Simply put, there is not enough new demand flowing in to support sustained upward movement at current levels. Adler’s assessment suggests that Bitcoin remains in a bearish setup, with limited buying liquidity keeping rallies capped. However, he also cautions that crypto markets are highly dynamic, and trends can shift quickly. A sudden resurgence in stablecoin inflows or renewed institutional demand could reverse the current imbalance, sparking another bullish leg. For now, though, the data leans bearish, highlighting the importance of monitoring exchange flows as BTC navigates this critical phase. BTC Testing Pivotal Resistance Level Bitcoin is currently trading near $111,192, showing a modest recovery after last week’s volatility that pushed the price below $108,000. The chart highlights Bitcoin’s attempt to reclaim momentum, with the price hovering just above the 100-day SMA (green line at ~$111,737). This moving average now acts as immediate resistance, and BTC needs a clear breakout above it to signal strength. On the upside, the 50-day SMA (~$115,638) represents the next major barrier. If bulls manage to push above this level, it would open the path to retesting the local peak around $123,217, marked as a key resistance line. However, Bitcoin’s inability to sustain gains above the 100-day SMA in recent sessions suggests that sellers remain active. Support lies around $108,000, with stronger demand likely at the 200-day SMA (~$101,460). A breakdown below $108,000 could expose BTC to deeper losses, potentially dragging the price toward the psychological $100,000 level. Bitcoin remains in a consolidation zone, caught between major moving averages. A decisive move above $115,000 would tilt momentum bullish again, while a failure to hold current levels risks renewed selling pressure. Bulls must defend $108,000 to prevent further downside. Featured image from Dall-E, chart from TradingView

Indonesia’s planned operation to seize more than 1,000 illegal mining sites starting this month is unlikely to deliver “meaningful environmental gains” and will yield only a “modest boost to state revenues,” according to a new analysis from BMI, a Fitch Solutions company. The Indonesian government aims to transfer seized mining sites to state ownership, positioning the move as part of President Prabowo Subianto’s wider anti-corruption campaign. But BMI notes that the real motivation appears to be revenue recovery rather than ecological protection. The approach echoes a March 2025 crackdown on illegal palm oil farms, which critics said disproportionately affected smallholders and indigenous communities while sparing large corporate interests. Environmental watchdogs argue that Indonesia’s weak institutions, red tape and entrenched corruption have long hampered enforcement of resource regulations. These systemic issues are likely to limit the effectiveness of the crackdown, even as Jakarta seeks to upgrade its mining sector up the global value chain, where stronger governance credentials could attract more international partners and capital, BMI said. Corruption-linked polarization remains a flashpoint in public life. Recent unrest over high parliamentary housing allowances underscores the extent to which corruption-related controversies can spark broader protests, complicating policy implementation, it added. Still, despite the governance shortcomings, BMI forecasts Indonesia’s mining industry will continue to expand. The report suggests that economic imperatives will outweigh environmental, social and governance (ESG) considerations in the near term, leaving the sector’s sustainability profile weak compared with global peers.

India will adopt the Organization for Economic Cooperation’s (OECD) Crypto-Asset Reporting Framework (CARF) by 1 April 2027. This will not only enable automatic cross-border sharing of crypto transaction data but also tighten tax oversight on offshore holdings. Indian crypto exchanges and service providers will now collect and report customer and transaction data to local tax authorities. Data flows are expected to reveal crypto assets and activity on foreign exchanges and wallets held by Indian residents, hashing out compliance and transparency issues. India is known for its high crypto adoption, but it is struggling to put together an effective regulatory framework. New Delhi is looking for standardized crypto tax transparency. Yes. But the Indian government is also planning to sign a Multilateral Competent Authority Agreement tailored to CARF next year, in 2026, to legally enable these exchanges, separate from India ‘s existing 2015 pact for traditional financial accounts. According to local media reports published on 1 September 2025, legislative updates and systems integration are underway to meet the 2027 go-live timeline. EXPLORE: Top 20 Crypto to Buy in 2025 India, US Lead Cryptocurrency Adoption – Chainalysis Report According to Chainalysis’ recent study published on 2 September 2025, India stood first and the US stood second in crypto adoption across the world. “In 2025, APAC furthered its status as the global hub of grassroots crypto activity, led by India, Pakistan, and Vietnam, whose populations drove widespread adoption across both centralized and decentralized services,” the report stated. According to the study, total crypto transaction volume in APAC grew from $1.4 trillion to $2.36 trillion. It driven by robust engagement across markets like India, Vietnam, and Pakistan. Meanwhile, North America climbed to the second-highest regional position in the presence of regulatory momentum. This includes the approval of spot bitcoin ETFs and clearer institutional frameworks, that helped legitimize and accelerate crypto participation across traditional financial channels. According to the study, North America and Europe continue to dominate in absolute terms, receiving over $2.2 trillion and $2.6 trillion, respectively, in the past year. EXPLORE: Top Solana Meme Coins to Buy in 2025 India’s Crypto Tax Talks Add Momentum To Asian Crypto Policy Reforms The Central Board of Direct Taxes (CBDT), India’s direct tax authority, has reportedly consulted domestic crypto platforms regarding its current virtual digital asset (VDA) framework. Industry insiders revealed that the CBDT questioned the effectiveness of the current taxation system on crypto and sought input on whether they require a standalone legal regime. The focus seems to be on the 1% tax that authorities deduct at source (TDS) on crypto trades, the restrictions on loss offsetting, and the ambiguity around offshore transactions. The CBDT further requested inputs regarding the shortlisting of government agencies that would oversee the development of the new crypto framework. Read More: Asian Crypto: Policy Shifts and Blockchain Moves Key Takeaways India’s adoption of CARF follows years of tightening oversight of digital assets, now extending to offshore holdings that have historically been difficult to track. Reports indicate CARF will extend to exchanges, brokers, and relevant wallet providers, and cover assets such as stablecoins, derivatives, and some NFTs, aligning with OECD technical guidance for comprehensive reporting. The post India Joins OECD: Will Begin Sharing Crypto Transaction Data By 2027 appeared first on 99Bitcoins.

According to market reports, two ETF decisions are coming up in October. Grayscale faces an Oct. 18 deadline, while Canary is set for Oct. 24. A Polymarket poll, which has roughly $150,000 in assets, shows approval odds rising to 87% from an August low of 64%. Some traders say those odds are helping prices because investors expect the US regulator to wrap up multiple ETF filings around the same time, as was the case with spot Bitcoin and Ethereum approvals earlier this year. Market Flows And Demand Data Reports have disclosed strong flows into crypto funds, and analysts point to those moves when discussing potential XRP demand. XRP rose 3% on Tuesday to $2.80, pulling back from this week’s low of $2.68. The move trimmed part of a slide that has pushed the token about 23% below its year-to-date peak of $3.6654. Traders told market watchers they were watching the pair of ETF deadlines on the calendar as one reason for the bounce. Spot Bitcoin ETFs have taken in over $54 billion in inflows, while Ethereum funds show about $13 billion. Existing XRP-related ETFs from providers such as Teucrium and ProShares have pulled in millions in assets, according to filings and industry commentary. The newly launched CME futures for XRP reached more than $1 billion in open interest quickly, a pace that has been noted by some market participants as a sign of appetite for XRP trading exposure. Technical Setup Points To A Possible Breakout XRP fell from a July high of $3.66 to roughly $2.80 recently. That drop is being read by some technicians as part of a falling wedge pattern, which many chart readers view as a bullish formation. Risks Remain Meanwhile, regulatory timing is uncertain. The US regulator has postponed related ETF decisions multiple times, and another delay is possible. Broader market weakness could blunt demand even if approvals arrive. Reports and market commentaries caution that past outcomes for Bitcoin and Ethereum do not automatically guarantee identical results for XRP, given differences in market structure and history. What Traders Are Watching According to exchange data and polls, sentiment has shifted toward a higher chance of approvals, and that shift appears to be supporting price action this week. Still, traders say it will take clear confirmations — either from regulatory filings or strong fund flows — to extend gains beyond the current bounce. For now, XRP sits between support near $2.68 and the $4 target that would signal a more sustained move higher. Featured image from Meta, chart from TradingView

USDJPY, one of the most volatile FX pairs is still holding within a tight range as traders turn to metals with Gold making new all-time highs and Silver racing towards a fresh record. FED's Waller appeared with comments this morning, foreshadowing a Rate cut at the upcoming 18th of September FOMC Meeting but the outlook for the pace of cuts is still uncertain. As mentioned in our most recent USDJPY piece, the Bank of Japan would rather the Federal Reserve to move first to reduce the interest rate differential between the US and Japan which is detrimental to the Yen and hurting Japanese citizens' buying power. As a matter of fact, BoJ Governor Ueda met Japan's Prime Minister Ishiba in a bi-annual meeting to discuss Japanese and global market outlooks. With Yields rising strongly (Japan's 20Y and 30Y yields breaking 4 decade highs) while the BoJ tries to hold rates relatively low to stimulate inflation, challenges keep arising for the Yen. Still holding the range strongly, players are looking to confirm the future outlook for the US Dollar which will decide in which direction the pair breaks out, and the answer will come after Friday's Job release. Read More: Dow Jones forms rising wedge ahead of NFP and FED's Waller comments on rate cuts – what it means for the indexUSDJPY 8H Chart and technicals USDJPY 8H Chart, September 3, 2025 – Source: TradingView The traditionally volatile pair has been stuck in a 2,000 pip range since the beginning of August, with traders desperately awaiting for a clearer path ahead. US Labor data and the uncertainty it's been holding is hurting trend traders but has helped participants who prefer rangebound conditions. Friday's 8:30 Non-Farm Payrolls release will be more than consequential and has high probability of triggering a breakout. For bulls, look for a break above above the range highs between 148.70 to 149.50 in the case of a strong Friday NFP release (a strong beat would reduce total rate cuts = bullish for the pair) Bears would on the other hand seek for a break below the 146.00 to 146.50 range lows, supported by the 200-period Moving Average (currently at 145.52). Today, the US Dollar is seeing some decent selling after this morning's miss in JOLTS job openings data which confirms the deceleration of the US Job market, the question for Friday is to what extent. Technical levels for USDJPY trading Resistance Levels 149.12 daily highsMay range extremes from 148.70 to 149.50 (daily MA 200 in confluence)150.00 to 150.90 July resistance Support Levels Pivot at the 148.00 zone (acting as immediate support, 50H MA in confluence)146.50 key support (200 MA in confluence)145.00 psychological support Safe Trades! 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.

Aris Mining (TSX: ARIS) (NYSE-A: ARMN) has released a prefeasibility study (PFS) for its Soto Norte gold project in Colombia, outlining the characteristics of both a profitable and environmentally friendly mine operation. Its shares rose on the news. The PFS, using a base case gold price of $2,600/oz., gave Soto Norte a 22-year initial mine life with total production of 4.3 million oz. gold, 18.8 million oz. silver and 84 million lb. copper. The metals will be mined from an underground reserve base of 20 million tonnes grading 7 grams per tonne (g/t) gold, 32.1 g/t silver and 0.2% copper. From this production profile, the study calculated an after-tax net present value (at 5% discount) of $2.7 billion, an internal rate of return of 35.4%, and a payback of 2.3 years from the start of operations. The initial capital is pegged at $625 million, while all-in-sustaining costs are estimated at $534/oz. over the life of mine. The PFS results sent Aris Mining shares to a new 52-week high of C$12.60 apiece. By midday, it had pulled back to C$12.53 with a market capitalization of C$2.54 billion ($1.84bn). Scaled-down operation An important change in the PFS, as Aris points out, is a new study design that reduces Soto Norte’s plant processing capacity to 3,500 tonnes per day from the 7,200 tonnes envisaged in the 2022 feasibility study. This would result in a small-scale mine operation, with production spread out over a longer mine life (from 11 years previously), with more emphasis on reducing environmental footprint. About 20% of the capacity, or 750 tonnes, will be reserved to process material purchased from local community miners, providing a “safe, regulated alternative that removes mercury use and ensures proper tailings and water management,” the company said. “The Soto Norte PFS outlines a project that balances scale, profitability, environmental stewardship and community input,” chief executive officer Neil Woodyer stated, hailing it as “one of the most attractive gold projects in the Americas.” He highlighted the company’s plan to process material mined by local community groups will replace informal mills that pollute waterways with safe, licensed processing. “All mine water will be collected, treated and safely returned, safeguarding the Bucaramanga and regional water supplies and improving water quality in the local community mining areas,” he said. Until Soto Norte’s processing plant is operational, some material can be processed at the company’s Segovia operations or Marmato complex in Colombia, both of which are currently in production. Aris aims to follow a similar “partnership” model implemented at Segovia for the Soto Norte project, which is currently held under a 51/49 joint venture with Mubadala. With the PFS completed, the company will now proceed with environmental studies in preparation for a license application in early 2026.

GBPUSD has found support after a selloff on Tuesday caused largely by fiscal concerns which has UK gilt yields to edge higher. The 30-year gilts reached a high of 5.595%, the highest level in 25 years. Despite all the concerns around UK Gilt Yields, it is important to note that the selloff was widespread across Europe, with Japan following suit in the Asian session today. The other concern for the Pound stems from fiscal sustainability. Market participants are wondering if the government can fix the budget problem and stop adding more debt without making big, strict changes. Cable dropped to a low on Tuesday around the 1.3440 handle. However, this is a key apport level and it would appear that cable bulls have once again found their legs. Comments by UK Chancellor of the Exchequer Rachel Reeves that the administration will focus on "bringing inflation and borrowing costs down by keeping a tight grip on day-to-day spending and enforcing fiscal rules", have also provided some relief to the Pound Sterling. Read More: Gold Hits All-Time High Amid Flight to Safety However, given Government plans moving forward there remains more questions than answers. Chancellor Rachel Reeves plans to raise 50 billion GBP in taxes in this upcoming budget meaning further pressure on businesses and consumers may be on the horizon. Should the government go ahead with its proposed plans to lower the VAT threshold, this could have an impact on the SME sector and thus damage the UKs attractiveness for investment. All in all the picture for the GBP does not look positive moving forward, especially given my view of further rate cuts from the BoE. I can see GBP struggling in the weeks ahead. US Dollar Index (DXY) and NFP The US dollar index has enjoyed a positive start to the week, but that optimism appears to be fading ahead of the highly anticipated NFP release on Friday. Just a short while ago we heard comments from Federal Reserve Policymaker Rafael Bostic saying “I am not ruling out a September rate cut depending on the coming jobs report and other data.” If you didn't understand the weight of this week's job data I hope these comments shed some light on the fact. The US Dollar is dealing with its own set of challenges and concerns around Fed independence. The DXY at this stage is at a crucial inflection point ahead of the NFP release. A strong print could help the USD recover while weak job numbers could lead the DXY to fresh YTD lows. The technical picture does hint at further upside for the DXY given that we have printed a triple bottom pattern which would hint at further upside. US Dollar Index (DXY) Daily Chart, September 3, 2025 Source: TradingView Technical Analysis - GBP/USD From a technical point of view, GBP/USD has been stuck in a range between the 1.3584 and 1.3378 since August 7. Market participants will be hoping that the NFP release could be a catalyst to push cable toward a breakout and substantial move, regardless of the direction. Traders after all thrive on volatility. TTodays bounce off support for cable does appear to have some momentum, but the RSI period-14 remains below the 50 handle which hints at bearish momentum. A break above the 50 on the RSI and a potential move above the 1.3500 handle may bring more buyers to the table. Any such move though is highly unlikely ahead of the NFP release. GBP/USD Daily Chart, September 3, 2025 Source: TradingView Client Sentiment Data - GBP/USD Looking at OANDA client sentiment data and market participants are long on the GBP/USD with 55% of traders net-long. Much like the range we are seeing on GBP/USD the sentiment data does little to provide any insights except reflect that traders remain indecisive as to Cables next move. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda 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.

Crypto sits at the heart of Ray Dalio’s new message. On September 3, 2025, the Bridgewater Associates founder published a point-by-point rebuttal to what he called the Financial Times’ “mischaracterizations,” releasing the full written Q&A he says he provided to the paper. The exchange restates his “Big Debt Cycle” framework and argues that rising US debt burdens, risks to Federal Reserve independence, and mounting geopolitical fractures are eroding the dollar’s role as a store of wealth—conditions that he says are boosting gold and crypto. Why Crypto Is An “An Attractive Alternative” Dalio frames the US fiscal position as late-cycle and dangerously self-reinforcing. “The great excesses that are now projected as a result of the new budget will likely cause a debt-induced heart-attack in the relatively near future—I’d say three years, give or take a year or two,” he wrote. He quantified the near-term squeeze in stark terms, citing “about $1 trillion a year in interest” and “about $9 trillion needed to roll over the debt,” alongside roughly “$7 trillion” in spending versus “$5 trillion” in revenues, requiring “an additional roughly $2 trillion in debt.” That expanding supply, he argued, collides with weakening demand when investors question whether bonds “are good storeholds of wealth.” The fulcrum, in Dalio’s telling, is now the Federal Reserve. If political pressure undermines the central bank’s independence, he warned, “we will see an unhealthy decline in the value of money.” Should a “politically weakened Fed” allow inflation to “run hot,” the consequence would be that “bonds and the dollar [go] down in value” and, if not remedied, becoming “an ineffective storehold of wealth and the breaking down of the monetary order as we know it.” He linked this to a broader late-cycle pattern: foreign holders “reducing their holdings of US bonds and increasing their holdings of gold due to geopolitical worries,” which he called “classically symptomatic” of the endgame. Dalio connected the macro and political strands to a more interventionist policy backdrop, referencing actions “to take control of what businesses do” and likening the current phase to the 1928–1938 period. He did not pin the dynamic on a single administration—“this situation has been going on for a long time under presidents from both parties”—but said post-2008 and especially post-2020 policies accelerated it. “The interaction of these five forces will lead to huge and unimaginable changes over the next 5 years,” he added, listing debt, domestic politics, geopolitics, acts of nature, and technology (with AI most important) as the drivers. Within that late-cycle schema, Dalio placed crypto squarely in the “hard currency” bucket. “Crypto is now an alternative currency that has its supply limited,” he wrote. “If the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency.” He tied the recent “rises in gold and cryptocurrency prices” to “reserve currency governments’ bad debt situations,” and reiterated his long-running focus on “storeholds of wealth.” On whether crypto could “meaningfully replace the dollar,” he emphasized mechanics over labels, noting that “most fiat currencies, especially those with large debts, will have problems being effective storeholds of wealth and will go down in value relative to hard currencies,” a pattern he said echoed the 1930–1940 and 1970–1980 episodes. Dalio addressed crypto stablecoin risk in that context, separating asset price drawdowns from systemic fragility: “I don’t think so,” he said when asked if stablecoins’ Treasury exposure is a systemic risk, adding that “a fall in the real purchasing power of Treasuries” is the real hazard—mitigated “if they are well-regulated.” He also rejected the notion that deregulation alone threatens the dollar’s reserve status: “No,” he said, pointing again to debt dynamics as the primary vulnerability. Dalio’s latest remarks fit within a decade-long evolution of his public stance on Bitcoin and crypto rather than a whiplash reversal. Early on, he emphasized gold as the superior “storehold of wealth” and warned that if Bitcoin ever became too successful, governments might restrict it—tempering enthusiasm with regulatory risk. By 2020–2021 he began calling Bitcoin “one hell of an invention,” acknowledged owning a small amount, and increasingly framed it as a portfolio diversifier that rhymes with digital gold, while still stressing its volatility and policy sensitivities. With his latest remarks, Dalio puts the entire crypto market inside the monetary hierarchy he uses to analyze late-cycle dynamics. At press time, the total crypto market cap stood at $3.79 trillion.

Gold extended gains to a new all-time high on Wednesday, powered by growing bets on a US interest rate cut this month, while the market weighs key economic indicators ahead of the Federal Reserve meeting in two weeks’ time. Spot gold rose another $30 to $3,560.85 an ounce, setting records on back-to-back days. US gold futures also peaked at $3,627.70 per ounce in New York. Click on chart for live prices. The rally comes amid increased expectations that the Fed will cut rates later this month, especially after Chair Jerome Powell’s recent comments hinting at this outcome. A monetary easing would boost the appeal of gold, as the metal yields zero interest. “Gold’s rally has room to run, with short to medium-term targets around $3,600 to $3,800, and the breakout pattern suggesting $4,000 could be within reach by late first quarter next year,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. According to CME Group’s FedWatch tool, traders are pricing in a 92% chance of a 25-basis-point rate cut at the Fed’s September policy meeting. In the short term, investors are keeping a close watch on a series of key US labor market indicators due this week, including job openings on Wednesday, weekly jobless claims and ADP employment on Thursday, and Friday’s non-farm payrolls report. If the upcoming payrolls report comes in weaker than expected, that would strongly seal the case for a 25-basis-point rate cut in September, Grant added. Concerns mount On Wednesday, Fed Governor Christopher Waller repeated his call for a September rate cut, and said that how fast the central bank cuts after that will depend on what happens next in the economy. Meanwhile, his peer Lisa Cook continues to legally challenge US President Donald Trump’s bid to remove her from office, in the latest episode of drama fueling uncertainty over the Fed’s independence. “Growing concerns over the independence of the US central bank are further undermining trust in dollar-denominated assets and pushing investors toward gold,” traders at Heraeus Metals said. In a note issued Wednesday, analysts at BMO Capital Markets also pointed to mounting concerns over sovereign debt levels in Western countries as another major factor driving a flight to safety in gold. (With files from Reuters)

US indices just concluded a decent month after a scary monthly open, with the Dow Jones up 3.44% in August. With this month commencing, participants are expecting high volatility ahead. Traders can remember how volatile the prior day to the July NFP and the actual release were – Looking at the state of current state of Markets, a calm before the storm situation is looming. Indeed, with the pricing of rate cuts still subject to change, Markets are still expecting some change in stance: there is just a bit more than 2 FED cuts priced in towards the rest of the year. (a little fundamental parenthesis before the Dow Jones charts) FED's Waller, who is one of the appointees to replace Jerome Powell in May 2026 and made headlines for his dovish comments ahead of the prior month Labor data release, appeared again this morning mentioning that the FED should start cutting soon "because usually when the labor market turns bad, it turns bad fast". He wants to get ahead of the curve there, understandably when looking at the actual US Job growth the past three months. The JOLTS job openings data recently releases below expectations 7.181M vs 7.378M expected – which may further shows signs of deceleration in the labor market. Waller did emphasize that he wouldn't know how much fast the FED would get to neutral (100 to 150 bps are his estimates) and that tariffs were still a tax on US citizens — He still maintained a neutral tone, surely to not hurt his future job opportunities prospects. Christopher Waller is currently the favorite for the Chair in May 2026. Current betting odds on who will be appointed as FED Chair, September 3, 2025 – Source: Kalshi Anyways, let's tackle the multi-timeframe analysis for the Dow. Read More: Why are government bond yields rising so much as of late?Dow Jones multi-timeframe analysisUS 30 Daily chart – concerns about the Rising Wedge? Dow Jones Daily Chart, September 3, 2025 – Source: TradingView Ahead of Friday's Non-Farm Payrolls release Equities are trading mixed, with only Google demarking from its peers (up a staggering 8.53% as I'm writing this). Only Nasdaq is up a decent amount today with more profit-taking happening in the Dow Jones and the S&P 500 trading mixed. The Dow Jones is currently selling off (still not too harshly) – One of the technical elements to be wary about, is the formation of a daily Rising wedge which tends to form the end of uptrends. Fundamentals still have the chance to break the pattern after NFP, and for that, bulls will have to break above the wedge highs. RSI momentum is heading downwards but do keep in mind that above 45,000 and the 50-Day MA (44,630), the current trend is still firm. US 30 4H chart Dow Jones 4H Chart, September 3, 2025 – Source: TradingView The Dow is trading mixed in today's session, held within the key 45,000 Pivot Zone located between the psychological level and the 45,285 previous all-time highs. Awaiting for a change to the fundamentals, traders are holding their breath Levels of interest for Dow Jones Trading: Resistance Levels 4H 50-period MA 45,420Current All-time high 45,764ATH Resistance Zone 45,700 (+/- 150 pts)1.618 Fibonacci-Extension for potential ATH resistance 46,260Support Levels Previous ATH resistance zone, now pivot 45,000 to 45,280 (daily highs)45,000 psychological level and low of rising wedge44,400 to 44,500 Main SupportUS 30 1H Chart Dow Jones 1H Chart, September 3, 2025 – Source: TradingView After forming a short-term double-top, the Index has corrected slightly with prices forming sideways momentum. A tight range (45,288 highs – 44,916 lows) is forming ahead of Friday's key release, however, days before labor data tend to see strong moves as certain traders place bets while others close positions. Look for breakouts above or below the tight range for pre-NFP volatility, and keep an eye on the Daily rising wedge. Safe Trades! 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.

Copper prices pulled back on Wednesday after briefly touching their highest levels since late March in London, as traders balanced concerns over supply with an uncertain demand picture from China. On the London Metal Exchange, copper climbed as much as 0.6% to $10,038 a tonne before easing 0.1% to $9,967 by 11:22 a.m. Shanghai time. The red metal gained 3% in August and remains up about 14% so far this year. In the US, COMEX futures were steady, with the most-active contract slipping 0.14% to $4.638 per pound ($10,203/t) on Wednesday morning. Click on image for live updates China concerns A weaker US dollar and the prospect of interest rate cuts have underpinned prices in recent weeks. But the market remains focused on China where signs of slowing industrial activity are raising doubts about demand. China’s official factory gauge for August pointed to a rapid contraction amid subdued demand, while analysts including Goldman Sachs have flagged softer conditions in the second half of the year. Still, some observers are more optimistic. Higher import premiums, relatively low inventories for this time of year, and potential supply constraints are lending support. Several Chinese smelters are scheduled to undergo maintenance in September, according to Jia Zheng, head of trading at Shanghai Soochow Jiuying Investment Management Co. “With reduced supply and stable demand, inventory levels are expected to decrease, which will support upward price moves,” Jia said in a text message. Market recovery Copper has staged a strong recovery after earlier turbulence linked to global trade tensions. Inflows of material to the US ahead of tariffs have tightened supplies elsewhere, keeping US futures at a premium over LME prices. The market now faces a tug of war between supportive supply-side dynamics and uncertainty over whether China’s economic slowdown will curb demand growth through the remainder of 2025. (With files from Bloomberg)

Crypto analyst Jonathan Carter has alluded to a technical pattern for Shiba Inu, which points to a breakout to the upside. Based on this, he predicted that the meme coin could soon break above the psychological $0.00002 level, which could pave the way for higher prices. Shiba Inu Confirms Descending Channel Breakout In an X post, Carter said that the Shiba Inu descending channel breakout has been confirmed. He noted that the meme coin has successfully broken above the descending channel and is currently consolidating just below the MA 50 on the daily timeframe. Based on this, the analyst indicated that SHIB could record a rally of over 100%. This came as Carter stated that a move above this MA could trigger an explosive rise toward targets at $0.00001400, $0.00001750, $0.00002050, and $0.00002500. Meanwhile, his accompanying chart showed that Shiba Inu could rally further to $0.000033 if it successfully breaks above $0.000025. However, the $0.000033 level will mark a huge resistance for the meme coin. Notably, crypto analyst Javon Marks recently predicted that Shiba Inu could record a rally of over 163% to the $0.00003 range. He stated that the SHIB price had formed a bullish pattern in a regular bull divergence, which the MACD Histogram confirmed. Based on this, he declared that a reversal was on the horizon, with the meme coin rallying to the upside. These bullish predictions come amid a bearish sentiment toward the Shiba Inu price. The meme coin has underperformed the broader crypto market and is down over 42% year-to-date (YTD). However, crypto analyst Shib Spain is still bullish on the meme coin. He stated that the longer the meme coin’s accumulation continues, the more powerful the explosion will be. SHIB At Crossroads At The Moment In a TradingView post, crypto analyst CobraVanguard suggested that the Shiba Inu price is at a crossroads at the moment. This came as he highlighted a triangle pattern, which he stated would break in the direction it is breached, and the price would then move in that direction. His accompanying chart showed that $0.000012251 is the key level to watch out for as the meme coin decides its next move. A breakdown below this price level could send Shiba Inu to as low as $0.000011269. Meanwhile, a successful break above this level could send the meme coin to as high as $0.000014183 in the short term. This marks one of the price levels that Carter mentioned as SHIB eyes a rally above the psychological $0.00002 level. At the time of writing, the Shiba Inu price is trading at around $0.00001240, up in the last 24 hours, according to data from CoinMarketCap.

Brazil’s competition authority has launched an investigation into Anglo American’s plan to sell its nickel operations in the country to China’s MMG for up to $500 million. The probe, first reported by the Financial Times, stems from a complaint filed by CoreX Holding, a global industrial group and direct competitor in the region. Anglo announced in February it would sell its Brazilian nickel mines to MMG, a Hong Kong–listed company controlled by state-owned China Minmetals. The deal is expected to close this quarter. CADE, the Brazilian watchdog, said it opened an Administrative Procedure for Investigating an Act of Economic Concentration based on the complaint. The agency noted, however, that the probe does not automatically imply the transaction will be blocked. Anglo declined to comment. CoreX and CADE did not respond to MINING.COM’s requests for further information. Scrutiny in Brazil follows pressure in the United States, where the American Iron and Steel Institute urged Washington to intervene. The industry body argued that MMG’s acquisition would give China direct influence over sizeable nickel reserves, strengthening its hold on a metal critical for electric vehicle batteries and stainless steel. Anglo’s Brazilian mines produce ferronickel primarily for stainless steel producers, with Europe a key market, according to MMG. Setbacks in Anglo’s restructuring The nickel sale is part of Anglo’s wider divestment strategy after it spun off its platinum business in May, now knowns as Valterra (JSE: VAL). In July, the miner classified its nickel and steelmaking coal assets as discontinued operations, with sales agreed but not completed. The company’s streamlining plan comes in the wake of a failed takeover bid by BHP (ASX: BHP). But progress has faltered. A $3.8 billion deal to sell its Australian coal portfolio collapsed last month after Peabody Energy (NYSE: BTU) walked away. Anglo is also weighing options for its loss-making De Beers diamond business, including a possible sale or listing.

Bitcoin is once again testing a critical support zone, and speculation is whether September’s weakness will mark a turning point. With historical patterns often showing September dips followed by strong Q4 rallies, the market now faces a pivotal moment that could decide the next major move. Bitcoin Returns To The Bull Market Support Band In his latest update on X, Benjamin Cowen highlighted that Bitcoin recently touched the bull market support band just a few days before September officially began. This level has historically acted as an important pivot zone, where the bulls often attempt to hold the line and defend broader market structure. Maintaining strength above this band could play a vital role in preserving bullish sentiment. Related Reading: Bitcoin Price Recovery Hopes Rise – Can Bulls Push It Past Resistance? He explained further that August established a local high, suggesting that September may be shaping up to form a local low. In his analysis, this type of alternating cycle between highs and lows is common in Bitcoin’s price behavior, especially during transitional phases of the market. Benjamin Cowen also pointed out that the beginning of September already saw Bitcoin trading lower than any level observed in August. This underlines how quickly market conditions can shift, with price action flipping from bullish in late summer to more cautious as the new month begins. The analyst stated that the best-case scenario would be if Bitcoin’s monthly low had already been established on September 1st. If that is the case, bulls could regain confidence sooner rather than later, stabilizing price action around the bull market support band. Such development would enable a healthier market structure and potentially lay the groundwork for another leg higher as the month progresses. Historical Cycles Suggest Q4 Upside If Support Holds In his analysis, Benjamin Cowen explained that the ideal scenario for Bitcoin would be to hold steady at the 20-week Simple Moving Average (SMA) throughout September. He noted that in previous bull cycles, including 2013, 2017, 2020, and 2021, Bitcoin successfully maintained this level before climbing to new highs in Q4, making it a key historical pattern to watch. Related Reading: Bitcoin In Trouble? Exchange Reserve Spikes To Highest In Months Cowen further emphasized that if Bitcoin fails to sustain the 20W SMA, attention should shift to the 50W SMA, which has consistently served as a strong foundation during the ongoing bull market. This level remains a crucial safety net for maintaining broader bullish momentum, even if short-term weakness emerges. As of September 3, 2025, Bitcoin is trading around $111,053, up 0.83% over the past 24 hours, with an intraday high of $111,716 and a low of $108,505, showing moderate volatility. The 24-hour trading volume is approximately $73.2 billion, reflecting healthy market activity, while Bitcoin’s market capitalization stands at about $2.22 trillion, solidifying its position as the leading cryptocurrency.

Gold at record high: Gold surged to $3,549.66/oz, up 33% in 2025, as investors seek safe-haven assets amid global uncertainty. Fed policy drives momentum: Expectations of U.S. Federal Reserve rate cuts and political interference fears boost precious metals demand. Silver outshines gold: Silver breaks $40/oz for the first time since 2011, up 40% YTD, fueled by industrial demand and tight supply.Gold Hits All-Time High Amid Flight to Safety Gold prices reached a new all-time high of $3,549.66 per ounce, reflecting a broader trend of growing investor appetite for safe-haven assets amid worsening sentiment in global equity and bond markets, and rising political and economic uncertainty. In just the past seven trading sessions, gold has climbed by over 5%, and since the beginning of the year, the metal has gained more than 33%, making it one of the best-performing assets of 2025. Daily chart of Gold, source: TradingView Fed Rate Cut Expectations Fuel Momentum The rally in gold is primarily driven by expectations of an upcoming rate-cutting cycle by the U.S. Federal Reserve, which enhances the attractiveness of non-yielding assets like gold. Investors are also reacting to growing concerns about the Fed’s independence — President Trump has reportedly considered removing one of the central bank’s board members, raising fears about the future direction of monetary policy. Additional uncertainty stems from fiscal instability in developed economies and ongoing geopolitical tensions, both of which are pushing capital toward precious metals. Probabilities of changes to the Fed rate, as implied by 30-Day Fed Funds futures prices., source: CME FedWatch Tool Silver Outpaces Gold on Industrial and Investment Demand Silver has shown an even more impressive performance, breaking above $40 per ounce for the first time since 2011. Year-to-date, silver is up by approximately 40%, outperforming gold both in terms of return and demand dynamics. Beyond macroeconomic factors, silver is also benefiting from robust industrial demand, particularly in the green technology sector — including solar panels and other renewable energy components. The physical silver market is facing its fifth consecutive year of supply deficit, which is fueling investor interest in silver-backed ETFs. Shrinking inventories in London vaults and persistently high leasing costs (around 2%) point to tight physical availability of the metal. In the near term, the precious metals market is expected to remain highly sensitive to political and macroeconomic developments. Investors are awaiting a ruling by the U.S. Supreme Court on the legality of removing a Fed board member, as well as the announcement of a new nominee for Fed Chair — Jerome Powell is set to step down in May 2026. Upcoming U.S. labor market data will also be crucial in shaping the Fed’s next monetary policy moves. Adding to the uncertainty is the ongoing trade dispute, with President Trump announcing plans to appeal a court decision that ruled parts of existing tariffs illegal — a move that could further escalate global trade tensions. Daily chart of Silver, source: TradingView 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.

Dogecoin’s backers moved quickly this week to create what they call the first official DOGE treasury, pushing $175 million into a vehicle aimed at buying Dogecoin and bringing more institutional muscle to the token. According to reports, the fund was set up through a private placement that issued 175,000,420 pre-funded warrants priced at $1 each, a structure meant to provide immediate capital for purchases. The plan has drawn big-name crypto firms and traditional investors. Funding And Structure Based on reports, the financing raised $175 million in total. Over 80 institutional and crypto-native investors are said to have taken part, with names like Pantera, GSR, FalconX, Mythos and Borderless listed among participants. The offering is expected to close around September 4, 2025, subject to regulatory approvals and the formal listing of the new warrants. The company tied to the move is CleanCore Solutions, which will house the program alongside a commercial arm called House of Doge. Markets reacted fast. CleanCore’s share price fell about 60%, sliding from roughly $6.85 to near $2.69 after the arrangement was disclosed. That drop reflected investor worries about dilution, execution risk, and how public markets would view a corporate play centered on a meme token. Trading in the warrants and the conversion mechanics were flagged by analysts as key details investors will watch closely. Leadership And Governance Reports have disclosed a noteworthy lineup of people and advisors. Alex Spiro, who has been publicly identified as an attorney for Elon Musk, is named to serve as Chairman of the Board at CleanCore. Timothy Stebbing, Director at the Dogecoin Foundation and CTO of House of Doge, will join CleanCore’s board, while Marco Margiotta, CEO of House of Doge, is slated to act as CleanCore’s Chief Investment Officer. The crypto-ETF firm 21Shares will advise on governance, capital allocation and strategy for the treasury. Those moves were described in filings and press releases tied to the deal. The effort aims to move Dogecoin from pure meme status toward something that can be held in a corporate reserve and used for payments, tokenization efforts, and other financial uses. According to statements circulating with the financing documents, the treasury would buy DOGE with the raised capital and could help create institutional-grade products around the token. Details about custody, trading rules and how purchases will be executed were not fully spelled out in initial disclosures. Featured image from Meta, chart from TradingView

US market regulators have jointly clarified that registered exchanges are not barred from listing and facilitating trading in certain spot crypto commodity products. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) joint statement made on 2 September 2025 said that registered exchanges, including National Securities Exchanges (NSEs), Designated Contract Markets (DCMs), and Foreign Boards of Trade (FBOTs), are not prohibited from trading of “certain spot commodity products” in crypto. “Market participants should have the freedom to choose where they trade spot crypto assets,” said SEC Chairman Paul Atkins. “The SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets.” Does the clarification remove a perceived legal barrier for some of the largest US trading venues to list spot crypto markets? Yes. It potentially also unlocks direct participation from major brokerages that pipe orders to these exchanges. But more importantly, it indicates a policy shift towards onshoring digital asset market activity under coordinated SEC-CFTC oversight. Explore: Best Meme Coin ICOs to Invest in September 2025 SEC, CFTC Initiative Is Part Of SEC’s Project Crypto And CFTC’s Crypto Sprint The statement read – This initiative is part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, and it builds on the recommendations of the President’s Working Group on Digital Asset Markets report on ‘Strengthening American Leadership in Digital Financial Technology.’ Importantly, the SEC-CFTC joint statement could resolve a long-standing gray area that discouraged many traditional venues for launching spot crypto markets. However, there is clear investor demand for regulated access points. “Under the prior administration, our agencies sent mixed signals about regulation and compliance in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over,” said CFTC Acting Chairman Caroline Pham. DISCOVER: Best New Cryptocurrencies to Invest in 2025 SEC-CFTC Launch Crypto Sprint To Reform US Regulations In August 2025, the CFTC launched a “crypto sprint.” Acting Chair Caroline Pham confirmed that the CFTC is teaming up with the SEC to fast-track parts of Trump’s crypto roadmap. This move follows a White House report that outlines a vision for the US to become the “crypto capital of the world.” The CFTC approved around-the-clock trading and greenlit perpetual futures on regulated platforms. It also rolled back some older internal guidance that many felt held the industry back. Additionally, the agency hosted its first-ever Crypto CEO Forum, providing industry leaders with a direct line to regulators. Talks have already started about launching pilot programs that support tokenization and on-chain market infrastructure. The SEC launched its own initiative called Project Crypto. The goal is to update the securities rulebook for a digital world. This includes offering clarity around how tokens should be classified. It improves access to capital through tools like airdrops and ICOs. Also, it makes it easier to issue tokenized versions of traditional assets. Read More: CFTC and SEC Launch Crypto Sprint to Reform U.S. Regulations Key Takeaways The joint statement is an inflection point for US crypto market structure. It clarifies that rules already on the books can accommodate spot crypto trading at scale. Filings and consultations are now expected from leading exchanges. They translate the staff views into concrete listing proposals for spot crypto markets. The post SEC-CFTC Collaborate: Will It Clear Path For Spot Crypto Trading On Major US Exchanges? appeared first on 99Bitcoins.

Crypto analyst Kevin (Kev Capital TA) argues that altcoins are replaying the same structural script that preceded the 2021 “altseason,” this time on the ratio of the altcoin market cap excluding Ethereum and stablecoins versus Bitcoin (often proxied as “Total3/BTC”). In a video posted late on September 2, he contends that confluence across weekly and monthly timeframes—on both linear and logarithmic scales—shows a Wyckoff-style bottoming process culminating in a “spring” and range reclaim, with momentum and breadth indicators lining up the way they did ahead of the 2021 surge. Altcoins Gear Up For Major Run Kevin frames the current moment as a direct analogue to the last cycle’s transition from despair to acceleration, emphasizing that the structure, not headlines, came first then as now. “We are seeing weekly time frame, monthly time frame historical setups,” he said, adding that the weekly linear chart of Total3/BTC has retraced into an accumulation range, pierced support in a capitulation-style flush, and then reclaimed the range—what he calls a “spring phase” that “led to the 2021 alt season.” The sequence, he argues, is strikingly similar to the 2018–2020 base that ultimately exploded higher in 2021 after the market “gave up” on altcoins. The analyst is explicit that this setup is conditional on macro “ingredients” that enable risk to be repriced. “We are going to need to see lower inflation or flat inflation, a softening labor market but not a crashing labor market, and softening growth but not crashing growth,” he said. That mix, in his view, would allow the Federal Reserve to shift the balance of risk toward employment, pull down the two-year yield, lift rate-cut expectations, and perhaps curtail the “last little bit” of quantitative tightening—“maybe even have a neutral to expanding balance sheet.” With “a lot of macro data coming over the next three weeks” and the FOMC set for September 17, he argues Q4 is the critical window. “It’s all lining up right now… we just need that last push.” On the weekly linear timeframe, Kevin points to indicator symmetry with the 2021 liftoff. He cites a fresh weekly buy on Market Cipher and says its “money flow” profile is tracing the same contour as the prior cycle’s spring. He adds that “whale money flow bottomed out at the exact same level as it did in 2021,” the MACD “crossed to the upside at the exact same level,” and the stochastic RSI has already surged to 96. In 2021, he notes, “once we broke the 80 level and stayed above it… you got your most aggressive price action.” The implication is that a push toward the “100 level” could coincide with the period of maximum upside impulse, as it did during the last cycle’s early thrust. He then zooms out to the monthly log chart of Total3/BTC, where he locates what he describes as an eight-year support band around “the 0.27 to 0.24 area,” a long down-trendline of resistance now meeting “a higher low structure,” and a momentum backdrop he characterizes as classically divergent. On Market Cipher’s monthly momentum waves, “higher lows, higher lows, higher lows, while price action made lower lows… that is a bullish divergence,” he said, stressing that this signal is most potent at major historical supports. The monthly RSI, he adds, appears to be “peeking our heads out” of a multi-year downtrend channel for the first time since the 2021 top. Meanwhile, the monthly stochastic RSI has carved a “full-blown V-shaped turn” up from near zero but has “hasn’t even come close to breaking the 80 level yet,” which in his framework is precisely when “you will not see your most bullish price action until you break the 80 level.” Kevin places particular weight on a double-bottom motif in his monthly L-MACD read, calling it “the same exact bottoming pattern” that formed between June and December 2020. “When you double bottom and make a basically a double bottom… game on,” he said, arguing that the renewed cross echoes the momentum inflection that preceded the altcoin surge into early 2021. He also notes that July and June printed a two-step low similar to the June/December 2020 pair that marked the prior regime shift. Crypto’s Biggest Run Ever? The through-line is that breadth is beginning to turn at a structural level while momentum gauges transition from deeply negative to positive across timeframes. He underscores that the signal is appearing in tandem across linear weekly and log monthly views, which he describes as unprecedented in its alignment. “There’s never been a time where these two charts have looked the way that they look in tandem on log and linear on the weekly, on the monthly,” he said. If that symmetry holds, he expects “the altcoin market cap to start stealing dominance away from Bitcoin at a higher faster pace than we’ve seen since the previous altcoin season.” Although his thesis centers on Total3/BTC, Kevin frames it within his earlier, well-telegraphed Ethereum calls from May/June, arguing that “ETH… has hit a new all-time high” and that “the bottom is in on ETH versus Bitcoin, ETH dominance, and obviously the ETHUSD chart.” He presents the altcoin rotation as a sequel: “Very similar to how ETH versus Bitcoin and ETH dominance and even ETHUSD were setting up before it made its big run against Bitcoin,” with Total3 now showing “two months in a row of outperformance” from a major support band—a combination he had highlighted in Ethereum before its advance. Even with the technicals aligned, Kevin is careful to caveat timelines and seasonality. He characterizes September as “usually weak,” with the more forceful phase of any rotation likely contingent on macro confirmation into Q4. “The charts can precede the news,” he said, “however, that’s never guaranteed.” For now, he sees a maturing base, a reclaimed range after a capitulative spring, and momentum structures that, in prior cycles, marked the boundary between grinding bottoms and impulsive advances. “If there was ever going to be a time that it was going to happen… now’s the time,” he concluded, while reiterating the dependency on incoming data: “I don’t know what the macro data is going to look like, but I know what this chart looks like… watch out for Total3.” At press time, TOTAL3 stood at $1.04 trillion.

Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK), Canada’s largest diversified miner, has deferred major expansion projects while it works to fix output problems at its flagship Quebrada Blanca (QB) copper mine in Chile. A major overhaul of the mine high in the Andes came in $4 billion over budget and years behind schedule. In July, chief executive officer Jonathan Price was forced to cut production guidance. The main issue now is tailings storage. The decision is part of a comprehensive operational review that was launched in August and is set to conclude in October, with a focus on improving performance. This review includes a detailed action plan for QB. The Vancouver-based miner said the bulk of the work will focus on its tailings facility, where slow sand drainage has delayed development and constrained production since the mine’s recent expansion. Teck plans to raise the dam wall mechanically, add new rock benches to increase crest height, and accelerate drainage improvements. The company also announced management changes, including the retirement of Chief Operating Officer Shehzad Bharmal and the appointment of an unnamed industry veteran as advisor to senior leadership. Output impact QB is central to Teck’s pivot toward energy transition metals after shedding its coal business. The mine underpins its target of producing 800,000 tonnes of copper annually by 2030. Teck now expects QB to produce 210,000–230,000 tonnes in 2025, down from earlier projections of 230,000 to 270,000 tonnes. The company had guided copper production at 490,000 to 565,000 tonnes overall this year, but now warns revised numbers will come with third-quarter results. Last year, just over 200,000 tonnes of copper was produced last year at the mine, in which Teck has a 60% stake. Japan’s Sumitomo Corp. owns 30% of QB, and Chile’s state-owned Codelco, 10%. Teck is also studying potential synergies with the nearby Collahuasi mine, jointly owned byAnglo American (LON: AAL) and Glencore (LON: GLEN).

The demand for compliant stablecoins is on the rise. To address this need, global crypto exchange MEXC recently launched zero-fee promotions for popular futures trading pairs. The move is designed to lower the barrier of entry to futures trading and empower traders to capitalize on rebounding market conditions. MEXC’s zero-fee campaign is one of the many ways the exchange has recognized user demand and addressed it with simple and innovative solutions. USDC Pairs Lead Q2 Trading Volume Growth According to the CoinGecko Q2 2025 Crypto Industry Report, Q2 set a new record in the stablecoin market cap at $243.1B (now at $288B), and saw a 24% increase in total crypto market cap. More specifically, the $USDC stablecoin grew by a whopping $1.4B in Q2 2025, signaling the market’s increasing demand for compliant stablecoins. As the name would suggest, compliant stablecoins refer to stablecoins that meet financial regulations. These regulations could be in the form of being under regulatory oversight, fully backed by cash or bonds, and regularly audited. Compared to Bitcoin and altcoins like Ethereum and Solana, stablecoin prices tend to be less volatile. These make them better-suited to trading, payments, and savings rather than speculating or investing. $USDT and $USDC are two of the largest stablecoins in terms of market capitalization. Between the two, the Tether-developed $USDT is more widely used and has a higher market cap ($168B+), while $USDC is better-known for its regulatory compliance and transparency. A Pair for Traders of Every Kind As the market shifted from finding the best meme coins in Q1 to investing in more mainstream crypto, MEXC introduced zero trading fees on select trading pairs. Each one has been carefully selected to not only meet stablecoin demand, but also to address various risk appetites and investment strategies. On the more mainstream side, there’s $ETH/$USDT. However, MEXC added $SUI/$USDC and $TON/$USDC, to cater to traders looking for up-and-coming pairs. Meanwhile, $HYPE/$USDC fills the need for more innovative projects, and the $POPCAT/$USDC trading pair is tailored for those willing to buy high-risk, high-reward crypto. It appears MEXC chose their zero-fee pairings wisely, considering each pair’s market share: $TON/$USDC: 42% $ETH/$USDT: 33% $HYPE/$USDC: 21% $ONDO/$USDC: 5% $POPCAT/$USDC: 5% In total, MEXC offers zero fees on 100 tokens on its exchange. Through the exchange’s futures trading market, you can bet on the future price of a cryptocurrency without actually owning that asset. Futures trading also allows you to use leverage, where you borrow funds to control a larger position with the actual amount of money you have. MEXC offers up to 500x leverage. This means if you have $10 and choose 500x leverage, you’ll be able to open a position size of $5K. Aside from stablecoins, you can also trade Ethereum futures on MEXC. Learn more about that in our roundup of the best Ethereum futures platforms. Fueling the Next Chapter of the Crypto Market Since 2018, MEXC has fulfilled its promise of being ‘Your Easiest Way to Crypto.’ With over 40M users in 170+ countries, it has given traders of every experience level a way to invest in digital assets simply, securely, and efficiently. Aside from its futures market, the exchange also has spot trading and P2P trading, among its offerings. It also has the MEXC MasterCard, which you can top up with your crypto balance and use anywhere in the world. With its latest zero-fee campaign on top futures pairs, MEXC has once again hit the mark and fueled the next chapter of the ever-growing cryptocurrency market. Authored by Aaron Walker, NewsBTC — https://www.newsbtc.com/news/mexc-zero-fee-promotion-usdc-stablecoins/