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United States Antimony Corporation (NYSE: UAMY) has secured a five-year contract worth up to $245 million from the US Defense Logistics Agency (DLA) to supply antimony metal ingots for the national defense stockpile. The news sent US Antimony’s shares soaring 17.8% in New York trading on Tuesday, pushing the company’s market capitalization to about $975 million. Securing domestic supply Antimony, a grey metal listed by the US as critical to national and economic security, is used in defense and high-tech applications, including flame-retardant materials, certain semiconductors, ammunition primers and superhard alloys. The US has not produced antimony commercially since 2016, making domestic supply a priority. US Antimony operates the only two smelters in North America with long-standing capacity to process the metal. According to the company, both facilities are already capable of producing ingots that meet stringent military specifications, with first deliveries under the contract expected this week. US Antimony has been working to expand its feedstock base, sourcing ore globally while advancing domestic projects. Mining recently began on its Alaska acreage, with initial results showing high-grade deposits that the company says will enable efficient processing and contribute to the US supply chain. It is also advancing acreage in Montana. The company emphasized that competing antimony sources, whether from the US or abroad, are at least three years away from commercial-scale production and may not meet defense standards. Chairman and CEO Gary Evans called the DLA contract a “meaningful milestone” for the company. “This sole-source award underscores our unique position as the only fully integrated antimony operation outside China,” Evans said, highlighting the significance of winning a government contract worth nearly 17 times the company’s 2024 revenue of $14.9 million. Founded decades ago, US Antimony produces and markets antimony, zeolite and precious metals across the US and Canada. Its Montana facility processes ore into antimony oxide, antimony metal and antimony trisulfide while also recovering gold and silver. Its Bear River zeolite operation in Idaho supplies materials for water filtration, nuclear waste treatment, agriculture and other industrial uses.

Fortune Bay (TSXV: FOR) said an updated economic study for the company’s Goldfields project in Saskatchewan shows rising gold prices have resulted in a quadrupling of the past-producing mine’s expected value. The stock soared. At spot gold prices of $3,650 an oz., Goldfields has an after-tax net present value (NPV) of C$1.25 billion ($906 million), an after-tax internal rate of return (IRR) of 74% and a payback of less than a year, Fortune Bay said Tuesday in a statement. The base case, which rests on gold averaging $2,600, would result in an NPV of C$610 million, an IRR of 44% and a payback of 1.7 years. A November 2022 preliminary economic assessment (PEA), which factored in average gold prices of $1,650 per oz., outlined an after-tax NPV of C$285 million, an IRR of 35% and a payback period of 1.7 years. “The updated PEA demonstrates the exceptional economics of Goldfields, establishing it as a significant development asset within Canada’s gold mining sector, while underscoring the disconnect between the project’s intrinsic value and Fortune Bay’s market valuation,” CEO Dale Verran said in the statement. Shares of the company rose 11% to C$0.89 apiece Tuesday morning in Toronto, boosting Fortune Bay’s market capitalization to about C$52 million. The stock has traded between C$0.21 and C$0.90 in the past year. Processing facility Fortune Bay’s updated study envisions an open-pit mine with a 14-year life producing 896,000 oz. of payable gold at an all-in sustaining cost of $1,330 an ounce. A 4,950 tonne-per-day processing facility – whose environmental impact statement has already been approved by Saskatchewan – would also be built. Initial capital expenditures for Goldfields are pegged at C$301 million, including a C$51 million contingency. Sustaining capital is projected to be C$142 million over the mine’s life. The current mine plan is designed to speed up production, Fortune Bay says. Maintaining throughput below 5,000 tonnes per day would allow the project to proceed without the need for a federal impact assessment, according to the company. Goldfields lies 13 km south of Uranium City in northern Saskatchewan, an historic mining district with road and hydro access, nearby fuel, contractors and a commercial airport. High grade If the project does go ahead, Goldfields would rank among the highest-grade open-pit developments in the Americas, according to Fortune Bay. Goldfields hosts 24 million indicated tonnes grading 1.28 grams gold per tonne for 989,600 oz. of gold, with 7.4 million inferred tonnes at 0.9 gram gold per tonne for 214,200 oz., according to the updated PEA. About three-quarters of the mineable ounces come from the Box deposit. With 97% of ounces in the mine plan classified as indicated, Goldfields “is comparatively de-risked for a PEA-stage project and is uniquely positioned for near-term development,” Verran said. “We are now focused on securing additional permits, advancing key de-risking (pre-feasibility) studies and preparing for resource-growth drilling. We are also evaluating alternative options for an accelerated production pathway.” Baseline studies and permitting are underway, and initial meetings with Indigenous Nations and local municipalities are scheduled to begin in the fourth quarter, the company said. “At this time, no material environmental or social risks have been identified that cannot be reasonably mitigated,” the company said in an investor presentation posted on its website. Exploration drilling at Box and the Athona, Frontier Lake, Golden Pond and Triangle targets has the potential to expand the current resource, Fortune Bay said. A 2,000–3,000 metre drilling program is planned to test the growth potential beyond the current mine plan.

Gold climbed to yet another record on Tuesday, bolstered by increased expectations of further US rate cuts, with investors awaiting Federal Reserve Chair Jerome Powell’s speech later in the day for further policy cues. Spot gold shot up nearly 1% to set a new all-time high of $3,790.64 per ounce, before pulling back below the $3,770 level. Meanwhile, US gold futures broke past the $3,800 barrier, trading 0.9% higher at $3809.1 an ounce. Click on chart for live prices. Over the past week, bullion has gained more than 2% while setting a new high almost every trading session, riding the momentum of the Federal Reserve’s first rate cut this year and expectations of further cuts down the line. According to the CME FedWatch tool, investors are predicting two more 25-basis point cuts, one each in October and December, with a 90% and 73% probability, respectively. Earlier this week, new Fed Governor Stephen Miran called for aggressive rate cuts, stating that the central bank was misreading how tight it has set monetary policy and will put the job market at risk. “Miran’s dovish posture certainly heightens the expectation of greater rate cuts as it seems the US administration is keen to push this, and this is a gold-positive outcome,” Ross Norman, an independent analyst, told Reuters. In 2025, the yellow metal has risen nearly 44%, with about a third of those gains coming over the past month in the lead-up to last week’s 25-basis-point rate cut. Also supporting this run was intense buying from institutional investors amid heightened demand for safe havens. SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.6% to 1,000.57 tons, a more than three-year high. Gold’s record-setting rally, according to many analysts, has yet to reach its conclusion. Those at UBS recently lifted their year-end price target to $3,800 an ounce, while Goldman Sachs is predicting gold will hit the $4,000-an-ounce milestone by the middle of 2026. Christopher Wood, global head of equity strategy at Jefferies, this week said that gold still has a 75% growth upside, taking it to as high as $6,600 in the coming months. (With files from Reuters) Sponsored: Secure your wealth today — buy gold bullion directly through our trusted partner, Sprott Money.

Appian Capital Advisory has secured a $150 million debt facility from Standard Bank to complete the expansion of its majority-owned Rosh Pinah zinc mine (RPZ) in southern Namibia. The financing will cover the remaining construction costs of the Rosh Pinah 2.0 project (RP2.0), which is more than 80% complete and on track for full commissioning in the third quarter of 2026. The expansion aims to nearly double throughput to 1.3 million tonnes a year, equal to about 170 million pounds of zinc. The project includes developing additional underground deposits and building new surface facilities, including a processing plant, paste fill and water treatment plant, and a new portal and decline. “Securing this financing is a major step forward for RPZ and RP2.0,” Ignacio Bustamante, Appian’s head of base metals, said in a statement. “The expansion is a key component of our strategy to optimise operations and extend mine life.” Alex Mayrick, the mine’s general manager, said Standard Bank’s involvement reflected confidence in the long-term prospects of the operation. Solar-powered About 30% of the mine’s energy needs are being met by the Rosh Pinah Solar Park, in which Appian took a controlling stake earlier this year. The plant supplies electricity at a fixed rate under a 15-year offtake agreement with Emesco Energy, cutting energy costs by 8%. Appian plans to boost the solar plant’s capacity from 5.4MWp (megawatt peak) to 16.3MWp, with Emesco continuing as operator.

Artificial intelligence can slash truck waiting times in open-pit mining by as much as 55%, while increasing productivity and fuel efficiency, according to a new study by GEM Mining Consulting. The research tested Reinforcement Learning (RL) as an alternative to conventional rule-based truck dispatch. Across multiple scenarios, the AI system delivered stronger results: 23–33% more tonnage moved, 19–24% faster cycle times, 6–21% better fuel efficiency, and up to 48% less downtime. Truck allocation remains one of mining’s toughest challenges, with loading and hauling making up 50%–60% of costs. Traditional dispatch systems depend on fixed rules that often break down when conditions shift, such as equipment failures or unscheduled maintenance. As operations expand, delays and inefficiencies compound, reducing output. To test RL’s potential, GEM built a discrete event simulation in Python, modelling an eight-hour shift with 30 trucks, four shovels, multiple pits, and destinations including plants and waste dumps. The simulation incorporated real-world complications such as refuelling, maintenance, queues, and random breakdowns. Real-time tweaks Researchers then applied Proximal Policy Optimization (PPO), an RL technique that learns from experience and adjusts in real time. Unlike static heuristics, the AI continuously evaluated variables such as truck locations, queue lengths, and fuel use to maximize efficiency. In repeated trials, RL outperformed conventional dispatch. Even with equipment failures, the AI kept deliveries steady with shorter queues and faster cycles, while the rule-based system faltered, widening the productivity gap. “The study demonstrates that Reinforcement Learning not only increases productivity but also significantly improves operational efficiency and environmental sustainability,” Sebastián Faúndez, Head of Analytics at GEM Mining Consulting, said. “In a sector where uncertainty and variability are inevitable, AI offers a robust and adaptable alternative that outperforms traditional truck dispatching approaches.”

Botswana is accelerating efforts to secure control of De Beers as parent company Anglo American (LON: AAL) moves forward with plans to divest its 85% stake in the diamond giant. President Duma Boko said his government intends to finalize a deal by the end of October, despite ongoing negotiations between Anglo and other potential buyers. He confirmed Botswana is in talks with partners, including Oman’s sovereign wealth fund, to help finance the deal. “We are more than ready for the transaction and we’ve said the transaction must be concluded by the end of October,” Boko told Bloomberg News. “It’s a matter of economic sovereignty for Botswana.” Securing a controlling stake would raise Botswana’s interest in De Beers above 50%. The company sources about 70% of its rough diamonds from the country, making the deal a strategic priority for Gaborone. Adverse market De Beers, the world’s leading diamond producer by value, has been on the chopping block since May 2024, when Anglo announced it would sell the unit or consider an initial public offering (IPO). This decision came after the miner fended off a £39 billion ($49 billion) takeover bid by Australian rival BHP (ASX: BHP) and launched a broad restructuring. Anglo has since delayed the sale amid a prolonged slump in the natural diamonds market, pressured by rising demand for cheaper lab-grown alternatives. The miner has twice cut De Beers’ valuation, most recently to $4.1 billion in February. In the first half, De Beers swung to a $189 million loss from a $300 million profit a year earlier as revenues fell 10% to $2 billion from $2.2 billion.

Asia Market Wrap - China, Hong Kong Shares Slide Most Read: Nikkei 225: Bullish reversal above 45,000, no negative impact from BoJ’s ETF unwind Following a technology-fueled surge on Wall Street, Asian stocks were trading near a record high, although shares in Hong Kong and mainland China declined. The MSCI Asia Pacific Index pulled back from its earlier highs to trade mostly flat. Stocks in Hong Kong fell 1% as the city was dealing with its most severe typhoon since 2018. However, shares of Asian companies that are involved in making computer chips rose, which was a reaction to the news that Nvidia has invested in OpenAI. There was no cash trading of U.S. government bonds (Treasuries) during the Asian trading hours because markets in Tokyo were closed for a public holiday. China's stock markets saw declines, with both the CSI300 Index and the Shanghai Composite Index falling by 1.2%, and Hong Kong's Hang Seng Index dropping by 1%. This negative mood among investors was made worse after a highly anticipated press conference by top financial regulators on Monday failed to provide any new announcements of policy support for the economy. Euro Area Private Sector Growth Accelerates, UK Composite PMI Falls Looking at the Euro Area, I was of the opinion that the very strong business activity in August, mainly from manufacturing, was likely a one-time event. This view was supported by a separate survey from the European Commission, which showed that while current production was up, companies weren't very optimistic about the future. New data released today seems to confirm this. The manufacturing sector has now declined to its lowest point in three months. However, activity in the service sector has improved significantly. This balance has kept the overall business activity index at a level that suggests the economy is still growing modestly. Overall, this means the eurozone economy had a respectable quarter, despite a lot of instability in the global economy. When looking at individual countries, France is a negative standout. Its business activity index fell to its lowest level since April, with both manufacturing and services showing a decline. This is in contrast to Germany, where the services sector is picking up. Given the current political uncertainty in France, its economy appears to be reflecting that same sense of instability. According to a preliminary estimate, the UK's business activity slowed down in September. The S&P Global Composite PMI index dropped to 51, a notable decrease from August's one-year high of 53.5 and below the expected 53. This marks the slowest rate of growth since May. Sources: ONS, S&P Global PMI The slowdown was seen in both the services sector, which grew at a slower pace, and the manufacturing sector, which experienced a more significant decline. New business increased only slightly, as companies reported that clients were hesitant to spend, particularly in export markets in the US and EU. To keep up production, businesses had to rely on existing backlogs of work. At the same time, costs for companies increased sharply due to rising wage pressures and higher National Insurance contributions. This led firms to raise their prices. As a result of these pressures, the level of employment in the private sector fell for the eleventh month in a row. Looking ahead, companies remain optimistic about future growth, but this optimism is not as strong as it was last month. European Open - FTSE 100 Retreats Global stocks climbed on Tuesday, driven by growing excitement around artificial intelligence (AI), which is attracting a lot of money into technology companies. Expectations that the US Federal Reserve will continue cutting interest rates also pushed the price of gold to a new record high. European stocks, which have typically been slower to follow the tech stock trend, saw gains of 0.4% in the EURO STOXX 600 index. This was primarily boosted by utility companies, with both German and French stock indexes climbing 0.5% and 0.7% respectively. However, the Dutch chip equipment manufacturer ASML saw its shares drop by 1.2%, which kept the overall gains in check. On the FX front, The S dollar held steady on Tuesday as investors carefully considered recent comments from members of the Federal Reserve. These remarks were seen as having a "hawkish" tilt, which means they suggest a preference for tighter monetary policy, like higher interest rates, to control inflation. At the same time, the market was waiting for a speech from Fed Chair Jerome Powell for more clarity on the economic outlook. The dollar's value shifted throughout the day but ended up mostly unchanged. The U.S. Dollar Index, which measures the dollar against other major currencies, was last at 97.36, after its three-day winning streak was broken on Monday. The euro and the British pound were slightly lower and flat against the dollar, respectively. The dollar was also flat against the Japanese yen. However, it gained slightly against the Swedish krona after Sweden's central bank cut its key interest rate to 1.75% and indicated that rates would likely stay at that level for a while. The offshore Chinese yuan remained unchanged against the dollar. This was because some major state-owned banks were reportedly buying US dollars. This move is typically seen as an effort to slow down the yuan's appreciation, or strengthening, against the dollar. Currency Power Balance Source: OANDA Labs Oil prices rose slightly on Tuesday, even though investors were also considering the potential for more oil supply coming to the market. This new supply is expected because Iraq and the Kurdish regional governments have reached a preliminary deal to reopen a key oil pipeline. Brent crude futures gained 14 cents to $66.71 a barrel, and U.S. West Texas Intermediate (WTI) crude gained 21 cents to $62.49 a barrel. Both types of oil recovered from small losses earlier in the day. The recent gains come after both Brent and WTI had fallen for the previous four sessions, dropping about 3% in value. Gold prices held steady on Tuesday after reaching a new record high. This was supported by ongoing expectations for more interest rate cuts in the U.S. and a weaker dollar, which typically makes gold more appealing. Investors are now waiting for a speech from Federal Reserve Chair Jerome Powell for more clues about the central bank's future policy plans. Spot gold, which is the current price for immediate delivery, was up by 1% at $3,783.25 per ounce, after it had already hit a record high of $3,791.02 earlier in the session. Economic Calendar and Final Thoughts Looking at the economic calendar, the European session was busy with a host of PMI data releases. Attention will now shift to US PMI data while central bank policymakers from the ECB, FED and Bank of Canada will also be speaking during the US session. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE Index From a technical standpoint, the FTSE 100 has seen a pullback this morning after advancing yesterday. Overall structure remains bullish but a pullback toward the 100-day MA is now looking likely. A bounce off the support here could lead to fresh highs beyond the 9280 highs printed earlier today. Immediate support below the 100-day MA is provided by the 200-day MA at 9216. Resistance beyond the 9280 handle may be found at 9320 and 9357. FTSE 100 Four-Hour Chart, September 23. 2025 Source: TradingView.com (click to enlarge) 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.

Overview: The dollar's rally beginning during the Federal Reserve's press conference last week stalled yesterday, and the greenback is mostly heavier today. Despite Sweden's unexpected rate cut, the krona is leading the G10 currencies higher. The flash September PMIs mostly softened but the impact has been minimal. Fed Chair Powell speaks shortly after noon ET today and this could be a catalyst. The dollar has been sold through the technical retracements of last week's recovery. The greenback is more mixed against emerging market currencies, with central European currencies generally outperforming Asia Pacific currencies. Tokyo markets were closed for the national holiday today, and outside of China and Hong Kong, most of the other large bourses advanced, led by Taiwan's 1.4% rally. Europe's Stoxx 600 is up more than 0.5% and is recouping in full losses from the past two sessions. US index futures are little changed. Bonds are mostly firmer. Benchmark 10-year yields are slightly softer, the 10-year UK Gilt yield is off a couple of basis points. Similarly, the 10-year US Treasury yield is two basis points lower near 4.13%. Gold extended its rally to $3791 in Europe but is pulling back ahead of the North American open. Given surge, the first area of support maybe near $3760. November WTI is consolidating quietly in a $61.85-$62.60 range. USD: After rallying about 1.65% after the FOMC statement last week, the Dollar Index consolidated lower yesterday. It neared 97.30. It eased to about 97.20 today. The 97.00 area is about the (50%) retracement of last week's post-Fed bounce. A move above 97.60 could stabilize the technical tone. Quietly but surely the US is moving toward a government shutdown at the end of the month. Both parties blocked the other's effort for a short-term extension. Both the Senate and House are on recess now making for a cliff-hanger next week. The preliminary September PMI poses headline risk. The composite is expected to have slowed for the second consecutive month. Fed Governor Bowman, and Atlanta Fed President Bostic (a non-voter this year) will speak before Chair Powell's speech on the economy at 12:35 EST. EURO: The euro poked a little above $1.1800 in late North American dealings yesterday. This met the (38.2%) retracement of the pullback that bottomed early yesterday near $1.1725. The euro recorded a bullish outside up day by trading on both sides of Friday's range and settling above it high. After reaching $1.1820, it was sold to $1.1780 after the PMI and recovered back above $1.1800. The next retracement objectives are around $1.1825 and $1.1845. The flash September PMI was little changed. Manufacturing slipped back into contraction (49.5 vs. 50.7), but services were stronger (51.4 vs. 50.5). The composite output measure stands edged up to 51.2 (vs.51.0). It averaged 50.4 in both Q1 and Q2. German manufacturing slowed slightly, but services expanded, and the composite rose to 52.4 from 50.5. French manufacturing and services slowed, and the composite fell to 48.4 (from 49.8). Elsewhere, Sweden's Riksbank unexpected delivered a quarter-point cut that brought its key rates to 1.75%. It was the third cut this year after 150 bp in cuts last year. Headline CPI is 1.1%. The krona is firmer against the greenback but a little softer against euro. CNY: The dollar consolidated in quiet turnover against the yuan yesterday and remains in last Friday's range today (CNH7.1060-CNH7.1200). It is in a narrow CNH7.1130-90 range today. The 20-day moving average is near CNH7.1250. The US dollar has not settled above it for little more than a month. Ahead of China's national holiday in the first part of October, the PBOC is injecting extra funds into the banking system. The dollar's fix was set at CNY7.1057, down from CNY7.1106 yesterday. JPY: The dollar continued to consolidate in the upper end of last week's range when it reached almost JPY148.30. The greenback eased to almost JPY147.65 in North America yesterday and settled below the down trendline from the August 1 and September 3 highs is found slightly above JPY148.00 today. The five- and 20-day moving averages converge near JPY147.50, which has been tested today. It held below JPY147.90 in quiet turnover. The local markets were closed today for the equinox holiday. Japan sees its preliminary PMI the first thing tomorrow and the LDP leadership contest is underway, with the vote on October 4. GBP: Sterling looked miserable. It dropped nearly 2% from the middle of last week's high. Buyers emerged yesterday after a marginal new low was recorded slightly below $1.3455. Sterling stalled around $1.3520 yesterday but edged slightly above it today to fray the 20-day moving average (~$1.3525). Above here, the $1.3550-60 area may cap it. The UK's flash September PMI softened, and the manufacturing reading remained below the 50 boom/bust level as it has since September 2024 (46.2 vs. 47.0), and services slowed (51.9 vs. 54.2). The composite eased to 51.0 from 53.5 in August, which was the highest since April 2024. The composite averaged 50.9 in Q1, 50.3 in Q2, and 52.0 in Q3. Yet growth is seen slowing this quarter to 0.2% from 0.3%, according to the median forecast in Bloomberg's survey. CAD: The greenback traded firmly yesterday rose above last Friday's high (~CAD1.3825) to approach a band of resistance that extends toward CAD1.3850. It is holding so far today. A move above CAD1.3865 could spur a retest on the CAD1.3900 area. Bank of Canada Governor Macklem speaks on trade and capital flows at 2:30 PM ET today. Otherwise, Canada's news stream is light until the end of the week's July GDP. Recall that the Canadian economy contracted in the previous three months (-0.1% a month) and the economy shrank by 1.6% at an annualized rate in Q2 as exports to the US were a significant drag. The swaps market is discounting another rate cut in Q4, which would bring the target rate to 2.25%. The market sees that as the likely terminal rate cut but has about a 40% chance of a cut in the first part of next year. AUD: The Australian dollar briefly traded above $0.6600 yesterday but spent most of the session consolidating in a narrow $0.6580-$0.6600 range. It is straddling the $0.6600 area. The next hurdle is the $0.6615-$0.6625 band. Australia's preliminary September PMI softened. It is one of the few countries that the manufacturing PMI continues to hold above 50; it has not been below this year. It is at 51.6 (vs. 53.0 in August). The composite averaged 51.0 in Q1 and 51.1 in Q2. If the September estimate is confirmed at 52.1, it will average about 53.8 in Q3. Reserve Bank Governor Bullock has indicated that a bar to a rate cut is high. There is practically no chance of a cut next week, and the odds of cut at the following meeting in November are around 80%. While still high, it has not been lower since late August. MXN: The dollar consolidated in the upper end of last week's range in quiet uneventful turnover yesterday. It slipped through yesterday's low near MXN18.34. Nearby support is seen around MXN18.30. Today, Mexico reports July retail sales, which may have ticked up after a 0.4% decline in June. Mexico also reports the IGAE economic activity survey, which is almost like a monthly GDP. It is expected to fall by 0.45 after rising by 0.22 in June. Ahead of Thursday's Banxico meeting, Mexico will also see first half of September's CPI on Wednesday. Another firm reading is expected, but with policy restrictive, the central bank is more concerned about growth, and barring a dramatic shock, a 25 bp rate cut is expected, which would bring the overnight target rate to 7.50%. Disclaimer

Ever wondered what your grandfather’s coin collection is worth? Inherited old coins but not sure of their value? Or maybe you’re just starting your journey in numismatics? Coin grading is the key to understanding the true value and authenticity of your coins. In this guide, you’ll learn what coin grading is, why it matters, how grading scales work, and which professional coin grading services (PCGS, NGC, and CACG) you can trust. Q: What Is Coin Grading and Why Does It Matter? A: Coin grading is the process of evaluating a coin’s condition and authenticity. A certified grade confirms a coin is genuine and assigns it a numeric value that collectors and dealers recognize worldwide. Even small grading differences can mean huge price changes. For example, a Morgan Silver Dollar graded MS-65 can be worth several times more than the same coin graded AU-58. Q: Why Should You Grade Your Coins? A: Professional coin grading protects you from counterfeits and ensures fair pricing. Certified grading: Authenticates your coin. Assigns a recognized grade using the Sheldon Scale. Boosts resale value by giving buyers confidence. Without grading, rare coins are often undervalued or distrusted in the marketplace. Q: How Are Coins Graded? A: The Sheldon Coin Grading Scale Developed in 1949, the Sheldon Scale is a 70-point system ranking coins from Poor (P-1) to Perfect Mint State (MS-70). Mint State (MS-60 to MS-70): Uncirculated, no wear. About Uncirculated (AU-50 to AU-58): Light wear, strong details. Extremely Fine (XF): Slight wear, most details visible. Very Fine (VF): Moderate wear, design visible. Good (G): Heavily worn, but identifiable. ANA Coin Grading Standards A: The American Numismatic Association (ANA) uses the same Sheldon Scale but adds detailed grade descriptions to ensure consistent grading across the industry. Q: Proof Coins vs. Mint State Coins: What’s the Difference? Proof coins are specially struck for collectors using polished dies, giving them mirror-like surfaces and sharp details. Mint State coins are uncirculated coins preserved from circulation, but struck for everyday use. Both can be graded, but Proofs often appeal to collectors for their visual beauty. Q: What Are the Most Trusted Coin Grading Services? A: The three most recognized professional coin grading services are: PCGS (Professional Coin Grading Service): One of the most respected names in coin authentication. NGC (Numismatic Guaranty Company): Trusted worldwide for consistent, reliable grading. CAC (Certified Acceptance Corporation): Known for its green sticker program, CAC began offering full grading and encapsulation in 2023. All three ensure your coins are authenticated, graded, and sealed in secure holders accepted by dealers and collectors worldwide. Q: Can You Grade Coins Yourself at Home? A: You can estimate grades using tools like PCGS Photograde or NGC Coin Explorer, which let you compare your coins to reference images. But only professional grades from PCGS, NGC, or CACG are official and accepted in the marketplace. Home grading is useful for learning, but it doesn’t carry the same credibility or value. Q: How Do You Submit a Coin for Professional Grading? A: Here’s the step-by-step process: Identify your coin. Choose a grading service (PCGS, NGC, or CACG). Fill out the online submission form. Package and ship your coin securely. Wait for grading, encapsulation, and insured return shipping. Q: How Does Coin Grading Affect Market Value? A: Coin grading directly impacts price. For example: A coin graded MS-65 can sell for several times more than the same coin graded AU-50. Professionally graded coins are easier to sell because buyers have confidence in their authenticity. This is why grading is essential if you plan to sell or insure your coins. Common Coin Grading Terms Every Collector Should Know MS (Mint State): Uncirculated, no wear. AU (About Uncirculated): Minimal wear on high points. XF (Extremely Fine): Light wear, sharp detail. VF (Very Fine): Moderate wear, design visible. G (Good): Heavy wear, still identifiable. These grading terms will help you understand coin listings, auction catalogs, and price guides. Tips and Warnings for Coin Collectors Never clean your coins. Cleaning reduces grade and value. Collectors prefer natural surfaces. Rely on professional grading. Only certified coins from PCGS, NGC, or CACG carry strong resale value. Graded coins sell for premiums. Dealers, auctions, and online buyers are willing to pay more for certified coins. Final Thoughts: Why Coin Grading Is Essential Getting your coins professionally graded is one of the best ways to protect their value, prove authenticity, and prepare them for the marketplace. Whether you choose PCGS, NGC, or CACG, grading gives peace of mind to both collectors and investors while maximizing your coin’s potential value. Want to stay informed? Subscribe to the Blanchard Newsletter for expert tips, rare coin insights, and the latest news in the world of precious metals and collectibles. The post How to Get a Coin Graded: A Complete Guide for Collectors appeared first on Blanchard and Company.

Ever wondered what your grandfather’s coin collection is worth? Inherited old coins but not sure of their value? Or maybe you’re just starting your journey in numismatics? Coin grading is the key to understanding the true value and authenticity of your coins. In this guide, you’ll learn what coin grading is, why it matters, how grading scales work, and which professional coin grading services (PCGS, NGC, and CACG) you can trust. Q: What Is Coin Grading and Why Does It Matter? A: Coin grading is the process of evaluating a coin’s condition and authenticity. A certified grade confirms a coin is genuine and assigns it a numeric value that collectors and dealers recognize worldwide. Even small grading differences can mean huge price changes. For example, a Morgan Silver Dollar graded MS-65 can be worth several times more than the same coin graded AU-58. Q: Why Should You Grade Your Coins? A: Professional coin grading protects you from counterfeits and ensures fair pricing. Certified grading: Authenticates your coin. Assigns a recognized grade using the Sheldon Scale. Boosts resale value by giving buyers confidence. Without grading, rare coins are often undervalued or distrusted in the marketplace. Q: How Are Coins Graded? A: The Sheldon Coin Grading Scale Developed in 1949, the Sheldon Scale is a 70-point system ranking coins from Poor (P-1) to Perfect Mint State (MS-70). Mint State (MS-60 to MS-70): Uncirculated, no wear. About Uncirculated (AU-50 to AU-58): Light wear, strong details. Extremely Fine (XF): Slight wear, most details visible. Very Fine (VF): Moderate wear, design visible. Good (G): Heavily worn, but identifiable. ANA Coin Grading Standards A: The American Numismatic Association (ANA) uses the same Sheldon Scale but adds detailed grade descriptions to ensure consistent grading across the industry. Q: Proof Coins vs. Mint State Coins: What’s the Difference? Proof coins are specially struck for collectors using polished dies, giving them mirror-like surfaces and sharp details. Mint State coins are uncirculated coins preserved from circulation, but struck for everyday use. Both can be graded, but Proofs often appeal to collectors for their visual beauty. Q: What Are the Most Trusted Coin Grading Services? A: The three most recognized professional coin grading services are: PCGS (Professional Coin Grading Service): One of the most respected names in coin authentication. NGC (Numismatic Guaranty Company): Trusted worldwide for consistent, reliable grading. CAC (Certified Acceptance Corporation): Known for its green sticker program, CAC began offering full grading and encapsulation in 2023. All three ensure your coins are authenticated, graded, and sealed in secure holders accepted by dealers and collectors worldwide. Q: Can You Grade Coins Yourself at Home? A: You can estimate grades using tools like PCGS Photograde or NGC Coin Explorer, which let you compare your coins to reference images. But only professional grades from PCGS, NGC, or CACG are official and accepted in the marketplace. Home grading is useful for learning, but it doesn’t carry the same credibility or value. Q: How Do You Submit a Coin for Professional Grading? A: Here’s the step-by-step process: Identify your coin. Choose a grading service (PCGS, NGC, or CACG). Fill out the online submission form. Package and ship your coin securely. Wait for grading, encapsulation, and insured return shipping. Q: How Does Coin Grading Affect Market Value? A: Coin grading directly impacts price. For example: A coin graded MS-65 can sell for several times more than the same coin graded AU-50. Professionally graded coins are easier to sell because buyers have confidence in their authenticity. This is why grading is essential if you plan to sell or insure your coins. Common Coin Grading Terms Every Collector Should Know MS (Mint State): Uncirculated, no wear. AU (About Uncirculated): Minimal wear on high points. XF (Extremely Fine): Light wear, sharp detail. VF (Very Fine): Moderate wear, design visible. G (Good): Heavy wear, still identifiable. These grading terms will help you understand coin listings, auction catalogs, and price guides. Tips and Warnings for Coin Collectors Never clean your coins. Cleaning reduces grade and value. Collectors prefer natural surfaces. Rely on professional grading. Only certified coins from PCGS, NGC, or CACG carry strong resale value. Graded coins sell for premiums. Dealers, auctions, and online buyers are willing to pay more for certified coins. Final Thoughts: Why Coin Grading Is Essential Getting your coins professionally graded is one of the best ways to protect their value, prove authenticity, and prepare them for the marketplace. Whether you choose PCGS, NGC, or CACG, grading gives peace of mind to both collectors and investors while maximizing your coin’s potential value. Want to stay informed? Subscribe to the Blanchard Newsletter for expert tips, rare coin insights, and the latest news in the world of precious metals and collectibles. The post How to Get a Coin Graded: A Complete Guide for Collectors appeared first on Blanchard and Company.

This is a follow-up analysis and timely update of our prior report, “Nikkei 225 Technical: Bullish trend remains intact despite Japan’s PM resignation”, published on 8 September 2025. The Japan 225 CFD Index (a proxy of the Nikkei 225 futures) has continued to remain in a bullish trend as expected and rallied by 5.3% to hit a fresh all-time high of 45,956 on last Thursday, 18 September 2025, ex-post FOMC. Thereafter, the Japan 225 CFD Index staged a minor corrective pull-back of -3.2% to print an intraday low of 44,485 on Friday, 19 September 2025, on the onset of the Bank of Japan (BoJ) announcement to start unwinding its massive hoard of around 79.5 trillion yen of exchange-traded funds (ETF) by market value as of mid-September tied to Japan benchmark stock indices. BoJ aims to sell its ETF holdings at a pace of around ¥620 billion per year by market value, or ¥330 billion by book value, starting in 2026. It will be a gradual unwinding process that may take more than 100 years to complete under the current plan. Additionally, it marks the first time the BoJ has laid out a plan for offloading the assets it has accumulated over years of ultra-easy monetary policy. Let’s now examine a fundamental factor that still supports a medium-term bullish trend in the Nikkei 225. Earnings revision continues to get upgraded for Japanese equities Fig. 1: Japan & US Citigroup Earnings Revision Index as of 19 Sep 2025 (Source: MacroMicro) Sell-side analysts have continued to upgrade the earnings growth potential of the Japanese stock market. Based on the latest data from the Citigroup Earnings Revision Index for Japanese equities as of 19 September 2025, it rose to 0.34 from the previous reading of 0.19 on 29 August 2025 (see Fig. 1). The Japan Citigroup Earnings Revision Index has been trending upwards since 20 June 2025, printing -0.35, which suggests that analysts, on average, are becoming more optimistic about the outlook for corporate earnings in Japan, in turn supporting the ongoing medium-term bullish trend in the Nikkei 225. In addition, the pace of analysts’ earnings upgrades in Japan rose at a steeper pace since 29 August 2025, versus the US Citigroup Earnings Revision Index. We now focus on the short-term (1to 3 days) trajectory, key elements, and key levels to watch on the Japan 225 CFD Index from a technical analysis perspective. Fig. 2: Japan 225 CFD Index minor trend as of 23 Sep 2025 (Source: TradingView) Preferred trend bias (1-3 days) Maintain the bullish bias on the Japan 225 CFD Index with a tightened short-term pivotal support now at 45,000. A clearance above 45,960 increases the odds of bullish impetus for the next intermediate resistances to come in at 46,430/46,580 and 46,870 (Fibonacci extension cluster and towards the upper boundary of a steeper minor ascending channel from the 2 September 2025 low) (see Fig. 2). Key elements The price actions of the Japan 225 CFD Index have continued to oscillate above its 20-day and 50-day moving averages, which suggests that its minor and medium-term uptrend phases remain intact.The hourly RSI momentum indicator of the Japan 225 CFD Index has exhibited a bullish momentum condition as it managed to trend higher above an ascending support and has not reached its overbought zone (above the 70 level).Alternative trend bias (1 to 3 days) A break below the 45,000 key short-term support for the Japan 225 CFD Index invalidates the bullish acceleration scenario to kickstart a minor corrective decline sequence to expose the next intermediate supports at 44,560 and 44,050. 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.

Newmont (NYSE, ASX: NEM, TSX: NGT) announced Monday that the first gold pour at its Ahafo North project in Ghana took place on Sept. 19, marking a critical milestone toward commercial production in the fourth quarter of 2025. This follows the completion of key development phases, including ore stockpiling that began in late 2024, and the commissioning of critical infrastructure, such as processing circuits, mining support facilities and a tailings storage facility. The project is currently ramping up toward full operational readiness, the world’s largest gold miner said. Located 30 km north of Newmont’s existing Ahafo South operations, Ahafo North is part of the broader Ahafo lease acquired from Normandy Mining in 2002. The company began advancing the project in 2021. Considered the best unmined gold deposit in West Africa, Ahafo North represents the US-based miner’s third mining investment in Ghana and, following the divestment of the Akyem mine in April 2025, will become its second operational site in the country. “The first gold pour at Ahafo North represents a major operational milestone that validates years of careful planning, engineering and construction, and builds on the strength of our world-class portfolio,” Newmont CEO Tom Palmer said in a news release. Over an initial 13-year mine life, Ahafo North is expected to deliver between 275,000 and 325,000 oz. of gold annually. The project has created approximately 4,500 contracted jobs and, once operational, will create approximately 560 permanent and 1,000 contracted roles – while contributing significantly to Ghana’s economy through royalties, taxes, fees and local development programs, the company said.

Log in to today's North American session Market wrap for September 22 Markets started the week on the back foot today, but shook off early concerns as US tech shares continued their impressive rise. This was fueled by a promise from Nvidia to invest up to $100 billion in OpenAI, boosting excitement around artificial intelligence. The S&P 500 saw gains primarily in the technology sector, marking a new record high for the 28th time this year. Nvidia's stock rose by about 4%, as its investment is meant to help OpenAI build data centers with its advanced AI chips. Other tech stocks also did well: Apple's shares went up 4.3% after an analyst firm, Wedbush, raised its price target for the stock due to strong demand for the new iPhone 17. Tesla's stock also climbed 1.9%. The technology sector as a whole led the gains for the S&P 500, ending the day 1.7% higher. Meanwhile, some officials at the Federal Reserve expressed doubts about the need for further interest rate cuts, even though the central bank cut rates for the first time last week. Both St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic said that while last week's rate cut was a good way to manage unemployment risk, their main goal is still to lower inflation. However, Fed Governor Stephen Miran, who last week argued for a bigger rate cut, said on Monday that monetary policy is already "well into restrictive territory." In other news, the bond market was relatively quiet, with U.S. yields slightly higher. The dollar's three-day rally has ended, the crypto market was hit, and gold reached a new record high. Read More:Gold (XAU/USD): Short-term bullish acceleration intact towards new all-time highs above US$3,660 key supportBinance Coin (BNB) breaks $1,000 despite a crypto pullback – Crypto outlookGBPJPY rejects 200.00 mark as sellers defend the rangeCross-Assets Daily Performance (update) Cross-Asset Daily Performance, September 22, 2025 – Source: TradingView US stocks continued that impressive rally which has captivated attention in 2025, shrugging off an early session pause. However, the story of the day is the precious metals markets with Gold powering forward to fresh all time highs near $3750/oz. Cryptocurrencies on the other hand struggled with Bitcoin seeing massive liquidations as prices dipped below the $115k handle. Oil on the other hand continues to toil in the range which has held prices for the last four months. A picture of today's performance for major currencies Currency Performance, September 22 – Source: OANDA Labs The U.S. dollar is on track to end its three-day winning streak against the euro and Swiss franc. This shift comes as investors are processing a large number of recent comments from Federal Reserve officials regarding the central bank's latest monetary policy decisions. As a result, the euro gained 0.44% against the dollar, reaching $1.1796, poised to snap its own three-day losing streak. The overall dollar index, which measures the dollar against a group of major currencies, fell by 0.39% to 97.34. Other currencies also strengthened against the dollar: the Swedish krona rose by 0.75% ahead of its central bank's policy meeting on Tuesday, and the Japanese yen gained 0.17%, on track for its second straight day of gains against the dollar. The British pound also saw an increase of 0.37%, reaching $1.3516. Even the Australian dollar, which had started the day with losses, reversed its course to climb 0.12% to $0.6599. A look at Economic data releasing in tonight and tomorrow's sessions For all market-moving economic releases and events, see the MarketPulse Economic Calendar. A busy day ahead for markets, particularly in the European session where we get a host of PMI releases from the Euro Area and the UK. Attention will then shift to US PMI data as we continue to get comments from Fed officials which after today may only serve to add more confusion and mixed messaging. Safe Trades and an enjoyble week ahead! Follow Zain on Twitter/X for Additional Market News, interactions 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.

White Gold (TSXV: WGO) is set to raise C$20 million ($14.5 million) in a brokered private placement to fund its exploration activities in Canada’s Yukon Territory. Clarus Securities, as lead agent of the offering, will issue a combination of premium flow-through units (C$1.17 per unit), flow-through common shares (C$1.00 per share) and units (C$0.85 per unit). Each premium unit comprises one flow-trough share and one-half of a common share purchase warrant, while the non-premium unit consists of one common share and one-half of a warrant. Each whole warrant is exercisable at C$1.15 for 24 months. Agnico Eagle Mines (TSX, NYSE: AEM), as a 19.8% shareholder, has indicated to the company that it plans to participate in the offering to maintain its interest on a partially diluted basis. Shares of White Gold hit a 52-week high of C$0.91 apiece on the announcement. At midday, it pulled back to C$0.89 for a market capitalization of C$175.9 million ($127.3 million). Top 3 Yukon gold The company currently owns a portfolio of 21 properties covering 3,051 km2, or 40% of Yukon’s emerging White Gold district. Its namesake flagship project hosts four near-surface gold deposits. Collectively, they contain an estimated 1.73 million oz. of gold in indicated resources and 1.27 million oz. in inferred resources. The resource estimate, which was updated last month, places White Gold among the top 3 gold projects in the Yukon in terms of contained metal, only behind Snowline Gold’s (TSXV: SGD; US-OTC: SNWGF) Valley resource and Victoria Gold’s Brewery Creek project. According to White Gold, there is significant expansion potential on the resource itself and in the immediate surrounding area. “We look forward to further increasing the scale of the project as we concurrently advance it to a PEA to demonstrate its economic potential,” White Gold CEO David D’Onofrio said in a statement. “Our exploration activities will also continue to focus on unlocking additional value across our extensive land package targeting gold and critical mineral opportunities in the prolific and underexplored White Gold district.” Regional exploration work has also produced several other new discoveries and prospective targets on the company’s claim packages, some of which border sizable gold and copper projects. These include the Coffee project that was just sold by Newmont (NYSE: NEM, TSX: NGT), with measured and indicated resources totalling 3 million oz. of gold, and Western Copper and Gold’s (TSX, NYSE-A: WRN) Casino project, which has measured and indicated gold resources of 14.8 million oz. and copper resources of 7.6 billion lb.

ASTER, the native token of the decentralized perpetual exchange Aster, officially launched last week and immediately made waves across the crypto market. Backed by Yzi Labs (formerly Binance Labs) and carrying the public endorsement of former Binance CEO Changpeng “CZ” Zhao, the token quickly drew massive attention from traders and investors. Upon launch, ASTER surged to nearly $1.94, sparking excitement around its potential to rival leading decentralized derivatives platforms. However, the enthusiasm was quickly tested as the token dropped 33% to lows of $1.33 within days, reflecting the volatility often seen in new market entries. Despite this sharp correction, ASTER has since stabilized and recovered to trade around $1.57, showing early signs of resilience. With CZ’s visible support and Yzi Labs’ backing, Aster positions itself as a formidable competitor to Hyperliquid in the decentralized perpetuals sector. The project’s narrative of combining deep liquidity, advanced trading infrastructure, and a strong ecosystem presence is already attracting both retail and institutional attention. Aster’s Setup And Competitive Outlook Top analyst Big Cheds recently shared a technical perspective on Aster, pointing to a bullish signal forming on the 1-hour chart. According to his view, ASTER printed a hammer candle with notable volume at the lower Bollinger Band breach, right near the 50-period simple moving average (SMA). This type of setup often suggests strong accumulation at support levels and can serve as a precursor to a rebound. For traders, the combination of a lower BB breach and hammer formation indicates potential exhaustion of selling pressure and the possibility of renewed upside momentum. The timing of this technical development is crucial. The broader crypto market has entered a volatile phase following aggressive selloffs across Bitcoin, Ethereum, and other major altcoins. While many tokens are struggling to recover, analysts argue that Aster is carving out a unique position, benefiting from strong institutional backing and favorable technical patterns. This resilience has led some to view ASTER as one of the more compelling short-to-midterm plays in the altcoin market. Beyond technicals, Aster’s fundamentals add weight to this outlook. Positioned as a direct competitor to Hyperliquid, Aster is aiming to capture market share in the growing decentralized perpetuals sector. Backed by Yzi Labs and publicly supported by CZ, its ecosystem growth potential is considerable. Analysts believe that if momentum continues, Aster could see accelerated adoption, supported by both speculative interest and long-term infrastructure development. ASTER Price Analysis: Technical Levels To Hold The 1-hour chart of ASTER/USDT highlights the token’s volatile but constructive price action since launch. After an explosive surge to nearly $1.94, the price corrected sharply, retracing to the $1.33 level before finding support. The recent bounce has seen ASTER recover to around $1.49, signaling that buyers remain active at lower levels despite ongoing volatility. The chart shows that ASTER is consolidating just under the 50-period simple moving average (SMA), currently near $1.51. This moving average has acted as both resistance and guidance for short-term momentum, meaning a decisive break above could trigger renewed upside momentum. Conversely, rejection here could lead to another retest of the $1.40–$1.33 support zone. Candlestick patterns also suggest uncertainty, with repeated long wicks on both ends reflecting tug-of-war behavior between bulls and bears. However, the ability of ASTER to hold above $1.40 during periods of selling pressure indicates resilience. Featured image from Dall-E, chart from TradingView

Barrick Mining (NYSE: B) (TSX: ABX) rallied to its highest in 13 years, as it builds off the momentum of a “game-changing” gold find in Nevada as well as the broader strength of the precious metals market. The miner’s Toronto-listed shares shot up by as much as 6% to C$49.33 apiece, its best since early 2012. Its New York-listed shares followed similar moves, with an intraday high of $35.70. The company’s market capitalizations on the respective markets are C$81.7 billion and $59.6 billion. Barrick’s TSX-listed shares have hit the highest since early 2012. Chart: TradingView Should Monday’s gains hold, this would be Barrick’s best four-day stretch since 2020, when the stock last traded in the high C$30’s before this year. Behind the recent rally was a new study on the company’s Fourmile project in Nevada that showed the potential to produce as much as 750,000 oz. of gold annually. Plans are in place to start underground mine development in 2026. In a press release dated Sept. 16, Barrick CEO Mark Bristow called it “multi-generational project” that has the chance to become the largest and highest-grade gold discovery of the century. The market reacted positively to this news, with Barrick’s share price rising by about 23% since that news release. The gains were elevated by the rising price of gold, which set multiple records in recent days following the US Federal Reserve’s first rate cut this year. As well, a rebalancing of the GDX index last Friday also helped to lift Barrick’s share price. Analyst upgrades Analysts are also agreeing with the improved sentiment, with many including TD Cowen’s Steven Green upgrading their price target for Barrick despite the company being entangled in a long-standing dispute in Mali over one of its largest mines. “We believe the stock still has significant room to catch up on valuation given its under-performance in recent years,” Green wrote in a Monday note to clients, lifting his price target to $38 a share. He highlighted that the Fourmile project will be a “game changer” that will improve the narrative for the company. In separate reports, Stifel analyst Ralph Profiti estimated that Fourmile is worth more than $10 billion, while BMO Capital Markets’ Matthew Murphy gave the gold project a value of $9.2 billion.

The wave analysis on the 4-hour EUR/USD chart has remained unchanged for several months now, which is very encouraging. Even when corrective waves are forming, the overall structure stays intact. This allows for accurate forecasting. It's worth noting that wave patterns don't always appear textbook-perfect. However, the current pattern still looks quite solid. The formation of the upward trend segment continues, and the news background mostly fails to support the dollar. The trade war initiated by Donald Trump is ongoing. The standoff with the Federal Reserve also continues. The market's "dovish" expectations for the Fed rate are growing. The market holds a rather grim view of Trump's performance during his first 6–7 months in office, despite the 3% economic growth recorded in the second quarter. At present, we can assume that an impulse wave 5 is in progress, with potential targets extending toward the 1.25 level. The internal structure of this wave is relatively complex and ambiguous, yet its higher-level composition raises few questions. Currently, three upward sub-waves can be seen, which indicates that by the end of last week the pair transitioned into forming wave 4 of 5. During Monday's trading session, EUR/USD climbed by 35 basis points. The movement amplitude wasn't very high, which is unsurprising for a news-light Monday. At the end of last week, the euro lost about 150 basis points, but that drop had no significant impact on the wave pattern. Therefore, I maintain the conclusion that the upward portion of the trend remains in place. Many traders tend to panic in situations where there's really no reason to. Often, traders see prices moving in the "wrong" direction and start frantically opening and closing positions, forgetting that corrections are a natural part of any trend. From my point of view, the decline we saw at the end of last week was simply a corrective wave that fits neatly into the current wave structure. It can be classified as wave 4 within the larger wave 5. If this assumption is correct, the instrument is now transitioning into forming wave 5 of 5; however, wave 4 could still theoretically develop into a three-wave pattern similar to wave 2 of 5. Therefore, we must be prepared for another decline. However, under current market conditions, any new decline will present a good buying opportunity. Recent news has made it increasingly clear that the interest rate gap between the Fed and the ECB will narrow over time. I would like to remind you that currently, this gap favors the U.S. dollar, yet the dollar has gained no real benefit from this advantage. Consequently, as the situation begins to shift (which it already is) in favor of the euro, we can expect a renewed upward move in the instrument. Keep in mind, the Fed's rate-cutting process is a gradual one. The dollar will have ample time to form a new upward trend segment. General Conclusions:Based on the EUR/USD analysis, I conclude that the instrument continues to form an upward trend segment. The wave structure still largely depends on the news backdrop—especially related to Trump's decisions, and the foreign and domestic policy of the current White House administration. The targets for the current trend segment may reach as far as the 1.25 level. Given that the news environment has not changed, I continue to hold long positions, despite the fulfillment of the first target near 1.1875, which corresponds to 161.8% on the Fibonacci scale. By the end of the year, I expect the euro to rise to 1.2245, which equals 200.0% Fibonacci. On a smaller scale, the entire upward trend is visible. The wave structure isn't the most conventional, as the corrective waves vary in size. For example, the larger wave 2 is smaller than internal wave 2 within wave 3. But such discrepancies do occur. Remember, it's best to identify clear structures on the chart rather than get hung up on every single wave. The current upward structure raises minimal doubts. Core Principles of My Analysis: Wave structures should be simple and understandable. Complex structures are harder to trade and often imply impending changes.If you're unsure about what's happening in the market, it's better to stay out.Absolute certainty in market direction does not—and cannot—exist. Never forget to use Stop Loss orders for protection.Wave analysis can and should be combined with other forms of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD Brief Analysis: The price trend direction of the British pound has been set by an upward wave since the start of this year. In late June, quotes reached the potential reversal zone on the weekly timeframe. Before further growth, a correction needs to form in the wave structure. As of today, the correction is not yet complete. Weekly Outlook: The coming week is expected to bring the end of the pound's downward movement. A temporary decline to the lower boundary is possible early in the week. A trend shift and an upward movement may follow, with resistance aligned at the lower boundary of the weekly reversal zone. Potential Reversal Zones Resistance: 1.3670 / 1.3720Support: 1.3430 / 1.3380Recommendations Sells: Risky and may result in losses. Buys: Upon confirmation signals from your trading system near support, purchases may become the core trade direction. AUD/USD Brief Analysis: An upward wave zigzag that began in August has brought AUD/USD quotes into a strong potential reversal zone. The wave structure is still incomplete. The current unfinished corrective wave segment began developing on September 11. Weekly Outlook: At the start of the week, a bearish vector is more likely, within the context of sideways movement. Toward the weekend, the probability of a reversal and upward movement from resistance increases. The calculated resistance defines the upper limit of the expected weekly range. Potential Reversal Zones Resistance: 0.6680 / 0.6730Support: 0.6550 / 0.6500Recommendations Sells: Can be done with reduced position sizes during individual sessions. Downward potential is limited by support. Buys: Will be relevant after confirmed reversal signals near the support zone. USD/CHF Brief Analysis: Following the completion of a bearish wave in April, a bullish wave has been forming in the USD/CHF major pair, developing as a narrowing flat. Its strong potential suggests it may continue to evolve on the daily timeframe. Over the last month, quotes have retraced downward, forming the (B) segment of the correction. Weekly Outlook: This week is expected to resemble recent periods. After likely moving along support zone boundaries early on, prices may resume rising by the weekend. The projected resistance indicates the maximum price increase potential. Potential Reversal Zones Resistance: 0.8090 / 0.8140Support: 0.7860 / 0.7810Recommendations Sells: High-risk and low potential. Buys: After signals are generated by your trading system near support, purchases can become the main trade direction. EUR/JPY Brief Analysis: Since February, short-term price direction in the EUR/JPY pair has been governed by an upward wave. Over the past two months, an incomplete corrective phase has been developing in the wave structure. The current upward move is forming the middle part (B) of the correction. Weekly Outlook: Sideways movement near resistance is possible in the next few days. Mid-week, expect increased volatility and a likely reversal into a downward move. Potential Reversal Zones Resistance: 175.00 / 175.50Support: 172.00 / 171.50Recommendations Buys: No favorable conditions are present. Sells: May be used in trading if confirmed entry signals from your system are present. EUR/CHF Brief Analysis: The short-term uptrend in the EUR/CHF pair has been dictated by an upward wave since April. Recently, a corrective flat has been forming within a price channel between 0.94 and 0.92. The structure of this correction remains incomplete. Weekly Outlook: The start of the upcoming week is likely to have a bullish bias. There may be pressure on the upper resistance boundary. A reversal and resumption of downward movement is likely closer to the weekend. A breakout below calculated support is unlikely. Potential Reversal Zones Resistance: 0.9390 / 0.9440Support: 0.9280 / 0.9230Recommendations Buys: Possible with reduced volume sizes on an intraday basis. Sells: Can be used from the resistance area upon confirmation from your trading system. US Dollar Index Brief Analysis: The recent strengthening of the U.S. dollar that began in mid-April is nearing completion. On the daily chart, this period forms a narrowing flat. After reaching the upper boundary of the potential reversal zone, quotes have begun to retreat. Breaking below intermediate support, the index has entered a drifting pattern. Weekly Outlook: In the first half of the upcoming week, the index is expected to hover near the resistance boundary. A reversal and downturn are more probable by week's end. The directional shift will likely come with a sharp rise in volatility, potentially triggered by global economic news. Potential Reversal Zones Resistance: 98.20 / 98.40Support: 97.20 / 97.00Recommendations Buying the U.S. Dollar in major pairs has little potential. It is more reasonable to consider bullish positions in major currencies instead. Explanations: In Simplified Wave Analysis (SWA), all waves consist of 3 parts (A-B-C). On each timeframe, the last unfinished wave is analyzed. Dotted lines show expected movement. Note: The wave algorithm does not account for the duration of price movements over time! The material has been provided by InstaForex Company - www.instaforex.com

GBPJPY is one of the most volatile FX pair available to trade including only major currencies – Yet, it's been stuck in a huge range since August 2024. As explained in our previous article on this currency pair, a continuous uptrend from 2020 lows (127.30!) to July 2024 highs (208.12) has been met with a sharp correction as carry trades saw a consequent slowdown amid a sudden market-breakdown which suddenly saw yen rebuying speed up. At the same time, equities saw a huge correction, which got followed with the usual dip-buying. Anyways, this time, a consistent shorter-range uptrend has built up momentum from April lows (184.50) to the higher bound of the year-long consolidation. With buyers stepping in after a August retracement, a consequent bull-sequence took the pair to a wick at new yearly highs (201.27). Let's have a look at multi-timeframe charts to spot levels of interest and see if the most recent rejection below 200.00 can hold further or a breakout is due. Read More: Binance Coin (BNB) breaks $1,000 despite a crypto pullback – Crypto outlookGold (XAU/USD): Short-term bullish acceleration intact towards new all-time highs above US$3,660 key supportRBA's Bullock says inflation under control, Aussie steadyGBPJPY multi-timeframe analysisGBPJPY daily timeframe GBPJPY Daily Chart, September 22, 2025 – Source: TradingView Markets have built towards higher levels in the pair throughout the past 5 months as weak fundamentals haven't helped the Yen to find consequent buying. However, some hawkishness as been denoted in last week's Bank of Japan meeting and as the Bank of England just cut its rate to 4% at its last meeting, rates between Japan and the UK are still expected to converge through time. The rest is for markets to spot when the BoJ will actually hike which should provide a further boost to the yen – a sign for sellers to step in further. But markets react to such noise initially before being more patient and waiting for the actual news to drop – There is a bit less of a hike priced in the Japanese short-end curve for the rest of the year. But increased hawkish talk may assist the selling in the pair and needs to be tracked closely, particularly after the most recent failed bullish-breakout. GBPJPY 4H chart and levels GBPJPY 4H Chart, September 22, 2025 – Source: TradingView As can be observed on this 4H chart, the V-shaped return to the 199.00 to 200.00 resistance has built a consolidation level just above the 200-period MA which now serves as immediate momentum level for future action. A break below should accelerate selling towards the April trendline, and further downside could be expected below (towards a retest of the August 5th lows). A failure to break the low of the resistance should amplify the consolidation further – Keep a close eye on the 4H 200-period MA. Levels to watch for GBPJPY trading: Support Levels: Low of 199.00 to 200.00 resistance (198.70)Intermediate Range Resistance Zone turned pivot near 195.00 to 196.85Higher timeframe Main Pivot point 193.00Range Intermediate Support Zone around the 190.00 levelResistance Levels: Resistance Zone extremes 199.00 to 200.00201.27 Bank of England and pre-Bank of Japan highs208.120 July 2024 highs GBPJPY 1H Chart, September 22, 2025 – Source: TradingView Bulls and bears are battling within the resistance of the range. The 50-hour Moving average may act as immediate resistance but will only see confirmation if momentum breaches the pivot zone. Not closing below the pivot on the daily would imply further consolidation within the range. Safe Trades and Shana Tovah for those who celebrate! Follow Elior on Twitter/X for additional Market News, Insights and Interactions @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.

EUR/USD Brief Analysis: The upward wave algorithm that began on July 31 continues to push the euro's main pair quotes toward the upper part of the chart. Since late August, the price has been forming a sideways corrective segment (B), which was still incomplete at the time of analysis. A week ago, the price entered a strong potential reversal zone and began pulling back, forming the final part (C) of the correction. Forecast for the Week: A bullish price vector is expected over the next few days, leading the euro toward calculated resistance levels. A reversal within this zone and a return to a bearish trend are likely by the weekend. The projected support/resistance zones define the expected weekly trading range. Potential Reversal Zones Resistance: 1.1810 / 1.1860Support: 1.1660 / 1.1610Recommendations: Buying: Can be used intraday with reduced volume size. Upward potential is limited by resistance. Selling: Premature until clear reversal signals appear near resistance. USD/JPY Brief Analysis: On the USD/JPY chart, a bearish wave structure opposing the previous bullish trend has been forming since August 1. This structure is at a high wave level, and its middle segment (B) in a sideways range is nearing completion. The price has created a horizontal channel around a few figures wide. Forecast for the Week: Continued sideways drift along the resistance boundaries is the most likely scenario in the coming days. There's a possibility of pressure on the upper boundary, potentially with a brief breakout. Toward the weekend, increased volatility and a downward price movement can be expected. The release of significant economic data may serve as a key turning point. Potential Reversal Zones Resistance: 148.10 / 148.60Support: 145.70 / 145.80Recommendations: Buying: Risky due to low upward potential and may result in losses. Selling: Can be a primary trade direction once reversal signals appear near resistance in your trading system. GBP/JPY Brief Analysis: The upward wave that started in August continues to dominate the pound/yen pair chart. Quotes have reached the lower boundary of a broad potential reversal zone on the higher timeframe. Since September 18, price movement has begun downward with reversal potential. The current structure still appears incomplete. Forecast for the Week: Predominantly sideways movement is expected. Early in the week, an upward-biased range may develop toward resistance. In the latter half, expect the sideways period to end and the downward trend to resume. Rising volatility may coincide with key economic data releases. Potential Reversal Zones Resistance: 200.20 / 200.70Support: 198.00 / 197.50Recommendations: Buying: Limited potential and high risk. Selling: May be used once confirmed reversal signals near resistance appear. USD/CAD Brief Analysis: The trend direction for the USD/CAD pair is driven by a downward wave that began at the start of the year. Since April, the pair entered a sideways correction. Extremes on the chart suggest a contracting structure, which remains incomplete. Price is moving within a horizontal channel. Forecast for the Week: A sideways to slightly bearish movement is likely in the coming days. Price is expected to approach support, followed by a potential reversal and resumption of the upward trend. The calculated resistance level marks the estimated upper boundary of this week's range. Potential Reversal Zones Resistance: 1.3850 / 1.3900Support: 1.3730 / 1.3680Recommendations: Selling: May be initiated with small volumes but offers low potential. Buying: Can be profitable after confirmed reversal signals appear near support. Keep in mind the limited upward potential. NZD/USD Brief Analysis: The current wave structure on the NZD/USD chart is bullish and began in early April. Since July, a correctional flat wave has been unfolding and remains incomplete. The tentative target zone for the correction coincides with the upper boundary of a strong potential reversal area on the higher timeframe. Forecast for the Week: Sideways movement with a bearish tilt is likely in the coming days. Price movement is expected to stay within support zone boundaries. By the end of the week, a reversal may form, signaling the resumption of bullish momentum. The projected resistance zone marks the top of the weekly range. Potential Reversal Zones Resistance: 0.5940 / 0.5990Support: 0.5820 / 0.5770Recommendations: Selling: May be done with small volumes in individual sessions but offers limited potential. Buying: Not relevant until confirmed reversal signals near support appear within your strategy. EUR/GBP Brief Analysis: Price direction in the EUR/GBP pair has been driven by a downward wave since April. The formation takes the shape of a narrowing flat. The current wave segment (B) remains unfinished. Over the past two months, prices have hovered near the lower boundary of a broad potential reversal zone on the daily timeframe. Forecast for the Week: Early in the week, expect sideways movement. A temporary test of the upper resistance zone is possible. Toward the weekend, the probability of a reversal and downward resumption increases. A breakout outside the calculated zones is unlikely. Potential Reversal Zones Resistance: 0.8750 / 0.8800Support: 0.8600 / 0.8550Recommendations: Buying: May be done briefly in individual sessions. Selling: Can be used in trades after confirming signals appear near projected resistance. Gold Analysis: Gold continues its bullish wave that began in October of last year. On the daily timeframe, this wave is forming the final trend. The wave structure takes the form of a narrowing flat. Forecast: Early in the week, expect a short-term price rise toward the resistance zone. After that, prices are expected to move sideways, forming setup conditions for a reversal and the start of a downward move. Potential Reversal Zones Resistance: 3730.0 / 3750.0Support: 3630.0 / 3610.0Recommendations: Buying: Limited potential and high risk. Selling: Becomes relevant after confirmed reversal signals appear near resistance. Explanations: In simplified wave analysis (SWA), all waves consist of 3 parts (A-B-C). Only the last incomplete wave is analyzed on each timeframe. Expected movements are shown with dashed lines. Note: This wave-based algorithm does not account for duration of movements over time. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Tips for the Japanese Yen The price test at 148.12 during the first half of the day came at a time when the MACD indicator had significantly moved below the zero mark, which limited the pair's downward potential. For this reason, I did not sell the dollar. The yen could strengthen further against the dollar, as speeches by FOMC members John Williams and Thomas Barkin are expected in the second half of the day. A dovish tone from policymakers could lead to a drop in the USD/JPY pair. In recent days, the Japanese currency has shown signs of weakening, and today's statements from politicians might serve as a reason to pause. If Williams and Barkin take a more cautious stance in their speeches—highlighting risks to economic growth and inflation—it could lead to a re-evaluation of expectations regarding future interest rate cuts by the Fed. However, considering that the Fed's dovish policy has largely contributed to the dollar's weakening in recent times, any hints of further easing could lead to another wave of dollar selling. A dovish tone from FOMC members will not only reduce the appeal of the dollar but also create additional incentive for yen appreciation, as it would reduce pressure on the Bank of Japan and allow it to maintain its current policy for a longer period. As for intraday strategy, I will rely more on implementing Scenario #1 and Scenario #2. Buy Signal Scenario #1: I plan to buy USD/JPY today upon reaching the entry point around 147.96 (green line on the chart), with the target of rising to 148.33 (thicker green line on the chart). Around 148.33, I will exit long positions and open shorts in the opposite direction (anticipating a movement of 30–35 points in the opposite direction from this level). A bullish continuation of the market could support this rise. Important! Before buying, make sure that the MACD indicator is above the zero mark 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 147.79 price level, at a time when the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to a market reversal upward. Growth toward opposite levels at 147.96 and 148.33 can be expected. Sell Signal Scenario #1: I plan to sell USD/JPY today after the price breaks below the 147.79 level (red line on the chart), which should result in a quick drop of the pair. The key target for sellers will be the 147.45 level, where I will exit short positions and immediately open long positions in the opposite direction (anticipating a movement of 20–25 points in the opposite direction from this level). Pressure on the pair will remain today if policymakers adopt a dovish stance. Important! Before selling, make sure that the MACD indicator is below the zero mark and just beginning to decline from it. Scenario #2: I also plan to sell USD/JPY today in case of two consecutive tests of the 147.96 level, at a time when the MACD indicator is in the overbought area. This will limit the upward potential of the pair and lead to a market reversal downward. A decline toward opposing levels of 147.79 and 147.45 can be expected. Chart Explanation: Thin green line – the entry price at which the trading instrument can be bought;Thick green line – the estimated price where Take Profit can be placed or profits can be manually fixed, as further growth above this level is unlikely;Thin red line – the entry price at which the trading instrument can be sold;Thick red line – the estimated price where Take Profit can be placed or profits can be manually fixed, as further decline below this level is unlikely;MACD indicator – when entering the market, it's important to follow overbought and oversold zones.Important: Beginner Forex traders need to be very cautious when making market entry decisions. It is best to stay out of the market before major fundamental reports are released in order to avoid sharp price fluctuations. If you choose to trade during news releases, always use stop-loss orders to minimize losses. Without stop-loss orders, you can quickly lose your entire deposit, especially if you don't use proper money management and trade large volumes. And remember, successful trading requires a clear trading plan, like the one presented above. Making impulsive trading decisions based on current market conditions is an inherently losing strategy for intraday traders. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Recommendations for Trading the British Pound The test of the 1.3490 price level occurred while the MACD indicator had already moved significantly above the zero line, which limited the pair's upward potential. In the second half of the day, all eyes will be on speeches by FOMC members John Williams and Thomas Barkin. If their tone is cautious or dovish, it could trigger further U.S. dollar weakening and, as a result, strengthen the pound. Should Williams and Barkin express concerns about the current economic situation, it may prompt another round of dollar selling. Investors are likely to interpret such comments as a signal of potential future monetary policy easing, leading to further USD weakness. On the other hand, the pound, supported by expectations of a comparatively tighter Bank of England policy, could gain a significant boost. Therefore, the speeches from Williams and Barkin may become decisive intraday triggers for the GBP/USD pair's direction. As for the intraday strategy, I'll mainly focus on executing scenarios #1 and #2. Buy Signal Scenario #1: I plan to buy the pound today upon reaching the entry point around 1.3508 (green line on the chart) with a target of 1.3543 (thicker green line on the chart). At the 1.3543 level, I will exit buy trades and open sell trades in the opposite direction, anticipating a pullback of 30–35 points from the entry point. The outlook favors a potential strong rise in the pound. Important! Before buying, ensure the MACD indicator is above the zero line and just beginning to rise from it. Scenario #2: I also plan to buy the pound today in the event of two consecutive tests of the 1.3486 level, while the MACD indicator is in the oversold zone. This would limit the downward potential of the pair and likely trigger an upward reversal. A rise toward the opposite levels of 1.3508 and 1.3543 can be expected. Sell Signal Scenario #1: I plan to sell the pound today after a breakout below the 1.3486 level (red line on the chart), which would lead to a quick bearish move. The key target for sellers will be the 1.3453 level, where I will exit sell trades and immediately open buys in the opposite direction, aiming for a 20–25 point retracement. The pound may experience a sharp drop in the second half of the day. Important! Before selling, ensure the MACD indicator is below the zero line and just beginning to fall from it. Scenario #2: I also plan to sell the pound today in the event of two consecutive tests of the 1.3508 level, while the MACD indicator is in overbought territory. This would limit the pair's upward potential and lead to a downward market reversal. A decline toward the opposite levels of 1.3486 and 1.3453 can be expected. What's on the Chart: Thin green line – entry price at which the trading instrument can be bought;Thick green line – estimated take-profit level or price where profits can be manually secured, as further upside above this point is unlikely;Thin red line – entry price at which the trading instrument can be sold;Thick red line – estimated take-profit level or price where profits can be manually secured, as further downside below this point is unlikely;MACD Indicator – When entering the market, it's essential to rely on overbought and oversold zones.Important: Beginner Forex traders should make entry decisions with great caution. It's best to stay out of the market before major fundamental reports are released to avoid sharp price movements. If you choose to trade during news releases, always use stop-loss orders to minimize losses. Without proper stop-losses, you could quickly lose your entire account — especially if you're not using sound money management and are trading large volumes. And remember: successful trading requires a clear trading plan, like the one I've outlined above. Making impulsive trading decisions based on current market conditions is an inherently losing intraday trading strategy. The material has been provided by InstaForex Company - www.instaforex.com

The Sprott Physical Uranium Trust (TSX: U.U for USD; U.UN for CAD), the world’s largest holder of the heavy metal, now has about 70 million lb. of uranium after it bought 450,000 lb. last week as nuclear energy’s strategic value comes into sharper focus. The transaction on Friday brings to 950,000 lb. of uranium oxide (U3O8) Sprott’s weekly buy and its third quarter purchases to about 2.3 million lb., the highest since the first quarter of 2023, BMO Capital Markets analysts Helen Amos and George Heppel said in a note on Monday. The Trust’s holdings total a market value of about $5.53 billion (C$7.6bn), according to Sprott. “With the trust poised to continue raising funds and the market heading into a seasonally stronger period for contracting in the fourth quarter, we could potentially see more spot purchasing of uranium in the near term, increasing the interest in the uranium market,” the analysts said. The Friday purchase follows Sprott’s 50,000-lb. buy about one month ago, and coincides with the climbing spot uranium price, which gained about 1.3% to $77.25 per lb. of U3O8, its highest level since early July. Securing uranium reserves Meanwhile, the United States’ government is considering increasing its strategic uranium reserve to lessen reliance on Russian supplies and bolster confidence in nuclear power’s long-term potential, Energy Secretary Chris Wright said last week. Russian imports account for about a quarter of the enriched uranium needed by the US’ 94 nuclear reactors that produce about a fifth of the country’s electricity. In 2024, the US purchased 50 million lb. of uranium, but only produced 677,000 lb., according to the Energy Information Administration. While decades ago, the US mined tens of millions of pounds of uranium, imports from countries such as Canada, Kazakhstan and Australia began to overtake domestic output in 1990, until American production fell to a low of 174,000 lb. U3O8 in 2019. Output has been slowly rising since then, increasing to 200,000 lb. U3O8 in 2022 then down to 50,000 lb. U3O8 in 2023, and increasing again last year. India’s National Thermal Power Corporation, the country’s largest energy conglomerate is also examining the prospect of buying foreign uranium supplies to ensure availability for nuclear projects, the South Asian nation’s Economic Times newspaper reported on Sunday. Prices benefit production The spot price increase has also helped miners maintain steady output, with the world’s top producer Kazatomprom (LSE: KAP) posting a 13% year-on-year rise in production in Kazakhstan for the first half of 2025 to 12,242 tonnes, it said on Aug. 1. Canadian uranium major Cameco (TSX: CCO; NYSE: CCJ) expects to produce 18 million lb. U3O8 this year from its mines in Saskatchewan, despite year-on-year output down 28% in the first half, it said in its second quarter results in July. These production trends occur as demand for nuclear energy continues to rise as tech companies move to build more power-hungry data centres for AI applications. The US government is also working to accelerate nuclear’s rise through various supports and fast-tracking uranium projects in the country’s Southwest. Worldwide demand for uranium is projected to triple by 2040, showing the need to develop mines. Uranium demand already outpaces production by 50 million to 60 million lb. a year, according to World Nuclear Association data. Sprott Uranium Trust shares were down 1.2% to $19.16 apiece on Monday morning, for a market capitalization of $5.45 billion. The stock has traded in a 12-month range of $12.65 to $20.50.

Trade Review and Tips on Trading the Euro The first price test at 1.1757 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 euro has risen sharply, and this is no surprise given that the Federal Reserve is cutting interest rates, while the European Central Bank has made it clear it won't do so again this year. This realization has likely acted as a catalyst for a reassessment of risks and opportunities in the currency markets. While the ECB maintains a relatively stable monetary policy, the Fed continues to respond to slowing economic growth by cutting rates. This makes the euro, at least temporarily, a more attractive currency for investors. In the second half of the day, FOMC members John Williams and Thomas Barkin are scheduled to speak. Their dovish tone could trigger a renewed sell-off in the dollar and further strengthen the euro. Market participants will be closely watching what these Federal Open Market Committee members have to say. Investors, disappointed by the dollar's indecisiveness earlier in the day, will be looking for any clues about potential changes in the Fed's policy outlook. If Williams and Barkin take a moderate or even soft stance on the current economic situation—acknowledging growth risks and a possible recession—it could trigger the next wave of dollar selling. Regarding the intraday strategy, I will focus mainly on implementing scenarios #1 and #2. Buy Signal Scenario #1: Today, I plan to buy the euro upon reaching the area around 1.1787 (green line on the chart), targeting a rise to 1.1815. At 1.1815, I plan to exit the market and also initiate sell positions in the opposite direction, targeting a move of 30–35 points from the entry point. A rally in the euro today would be more likely if the policymakers strike a dovish tone. 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 in case of two consecutive tests of the 1.1767 level, at a moment when the MACD indicator is in the oversold zone. This would limit the pair's downward potential and lead to a market reversal to the upside. Growth is expected toward the opposite levels of 1.1787 and 1.1815. Sell Signal Scenario #1: I plan to sell the euro after it reaches 1.1767 (red line on the chart). The target would be 1.1729, where I plan to exit the market and initiate long positions in the opposite direction, targeting a move of 20–25 points from that level. Sustained pressure on the pair is unlikely today. Important! Before selling, make sure the MACD indicator is below the zero line and just starting to decline from it. Scenario #2: I also plan to sell the euro today in case of two consecutive tests of 1.1787 while the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a reversal downward. A decline is expected toward the opposite levels of 1.1767 and 1.1729. What's on the Chart: Thin green line – entry price at which the trading instrument can be bought;Thick green line – estimated price where Take Profit orders can be placed or profits manually locked in, as further growth above this level is unlikely;Thin red line – entry price at which the trading instrument can be sold;Thick red line – estimated price where Take Profit orders can be placed or profits manually locked in, as further decline below this level is unlikely;MACD Indicator – when entering the market, it's important to rely on overbought and oversold zones.Important: Beginner Forex traders must take great caution when making decisions to enter the market. It's usually best to stay out of the market before the release of significant fundamental reports to avoid being caught in sharp price swings. If you choose to trade during news releases, always place stop-loss orders to minimize losses. Without stop-losses, you risk losing your entire deposit quickly—especially if you don't use proper money management or trade with large volumes. And remember: successful trading requires a clear plan, like the one I presented above. Spontaneous trading decisions based on current market conditions are a fundamentally losing strategy for intraday traders. The material has been provided by InstaForex Company - www.instaforex.com

Copper prices held steady on Monday as traders continue to assess the impact of a major mine shutdown on global supplies. Three-month futures traded at above $10,000 per ton ($4.6125 per lb.) on the CME, down 0.3% for the day. In London, the metal traded at just under $10,000/ton, holding onto Friday’s advance. Click on chart for live prices. The moves follow an announcement by Freeport McMoRan that it will temporarily suspend its Grasberg mine in Indonesia — the second-largest copper producer in the world — following a mud flow incident that trapped seven workers underground two weeks ago. As of Monday, the bodies of two workers had been recovered. Operations will remain suspended at Grasberg while the search for the remaining workers continues, US-based Freeport has said. The recent updates signal a potentially extended suspension at the mine, which could quickly tighten the market and exacerbate the long-running supply constraints that have supported prices this year. Demand for the metal has generally held firm, and Citigroup analysts said last week that prices could head for a cautious close to 2025 before a more concerted move to hit $12,000 next year. (With files from Bloomberg)