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Coinbase has become the largest single node operator in the Ethereum network, holding 11.42% of the total staked Ether (ETH), according to a new report by the crypto exchange.

The performance update revealed that Coinbase currently has 3.84 million ETH, valued at approximately $6.8 billion, staked across its validators.

While staking platform Lido holds a larger collective share of Ethereum staking, each of its individual node operators has a much smaller stake.

Anthony Sassano, host of The Daily Gwei, highlighted this distinction, emphasising Coinbase’s dominant position as an independent staking entity.

Coinbase validators outperform

Coinbase reported exceeding its validator uptime and participation targets, reflecting the platform’s strong operational efficiency.

The company recorded an average validator uptime of 99.75%, surpassing its internal 99% target while maintaining high security standards.

The exchange attributed this performance to a 2024 system upgrade, which enables continuous validator operations even during beacon node maintenance.

This upgrade has enhanced Coinbase’s reliability and contributed to its status as Ethereum’s most significant node operator.

Alongside uptime, the participation rate—measuring validator engagement in Ethereum’s consensus mechanism—also stood at 99.75%, outperforming the network’s average of 99.52%.

Coinbase’s success rate in signing and submitting blocks through its MEV relays reached 99.76%, exceeding the network’s 99.38% benchmark.

Coinbase expands validator network

Despite operating as a centralised exchange, Coinbase has implemented a geographically distributed staking infrastructure to align with Ethereum’s decentralisation principles.

According to the report, Coinbase’s validators are spread across multiple regions, including Japan, Singapore, Ireland, Germany, and Hong Kong.

This distributed approach helps mitigate centralisation risks and ensures that Ethereum’s validator ecosystem remains resilient.

While concerns persist regarding the influence of large staking entities, Coinbase’s global presence aims to reinforce network stability and security.

The company has also highlighted its efforts to improve validator efficiency through enhanced infrastructure, helping to optimise performance and maintain reliability across different market conditions.

This development positions Coinbase as a leading force in Ethereum’s staking landscape.

ETH price rallies past $2,000

Coinbase’s dominance in Ethereum staking coincided with a surge in ETH prices, driven by increased accumulation by large holders.

On March 2, Ether reached a weekly high of $2,060.73, reflecting a 12.3% gain over seven days.

By March 20, ETH’s daily trading volume had risen to $2.07 billion, with the asset climbing back above the $2,000 threshold.

Source: CoinMarketCap

The price surge comes at a time of mixed market sentiment for Ethereum.

Earlier in March, Yuga Labs’ vice president of blockchain warned that ETH could decline to $200 in an extended bear market.

However, the recent uptick suggests strong investor confidence, possibly fuelled by Coinbase’s growing influence in Ethereum’s staking ecosystem.

Analysts point to Ethereum’s staking growth and increased network activity as key drivers behind ETH’s bullish momentum.

As more investors stake their holdings, the circulating supply of ETH decreases, potentially driving prices higher in the long term.

The post Coinbase becomes Ethereum’s largest node operator, controlling 11.42% share appeared first on Invezz

Strikes launched by Israel killed at least 58 Palestinians throughout the Gaza Strip overnight and into Thursday, according to hospitals via The Associated Press.

The Jewish State resumed attacks across Gaza earlier this week, breaking a ceasefire, which reportedly killed over 400 Palestinians – mostly women and children – on Tuesday, according to the Hamas-run Gaza health ministry.

Israel’s military indicated that it intercepted a missile fired by Yemen’s Iran-backed Houthi rebels early Thursday before it entered Israel’s airspace, The AP reported.

‘Hamas refused offer after offer to release our hostages. In the past two weeks, Israel did not initiate any military action, in the hope that Hamas would change course. Well, that didn’t happen. While Israel accepted the offer of President Trump’s special envoy Steve Witkoff, Hamas flatly refused to do so,’ Israeli Prime Minister Benjamin Netanyahu said in a video shared to X on Tuesday. ‘This is why I authorized yesterday, the renewal of military action against Hamas.’

‘Israel does not target Palestinian civilians. We target Hamas terrorists,’ he declared. ‘And when these terrorists embed themselves in civilian areas, when they use civilians as human shields, they’re the ones who are responsible for all unintended casualties.’

Israel launched its war on Hamas in response to the terrorist group’s heinous attack on Oct. 7, 2023.

 

Sen. John Fetterman, D-Pa., a staunch supporter of Israel, continued to express his support while visiting the foreign nation this week.

‘Hamas does not want peace. I unapologetically, 100% stand with Israel, and demand the release of all remaining hostages. Sending this from Israel,’ Fetterman said on X on Tuesday.

 

Rep. Jared Moskowitz, D-Fla., said on X on Wednesday, ‘Hamas could end this war right now if it released the hostages held in Gaza. It could’ve done so months ago, but instead it’s brought devastation by prolonging this conflict. America must lead the world in pressuring Hamas to end this war and bring the hostages home.’

This post appeared first on FOX NEWS

Israeli troops re-imposed a blockade of the northern capital of Gaza City on Thursday, less than a day after once again deploying troops into the Gaza Strip.

Israel continued with its bombardment of Gaza as well, killing 85 Palestinians from Wednesday into Thursday, according to the Hamas-run Gaza health ministry. Israel maintained the blockade of Gaza City for much of the war prior to the January ceasefire, which collapsed earlier this week.

The Israeli Defense Forces (IDF) warned residents not to use the main road to travel north into Gaza City.

The IDF is also conducting further ground operations in the northern town of Beit Lahiya. Most of the Palestinian deaths over the past 24 hours have centered on the town.

Hamas launched a handful of rockets into Israel on Thursday, resulting in no casualties.

The total death toll in Gaza since Tuesday has risen to 592, according to the health ministry. The death toll has not been independently verified.

In addition to the blockade at Gaza City, IDF troops are also deployed to the Netzarim corridor, a key section of Gaza that essentially cuts the strip in half. Israeli Prime Minister Benjamin Netanyahu has maintained that Israel will continue its military operations until every hostage has been returned from Hamas custody.

‘Hamas refused offer after offer to release our hostages. In the past two weeks, Israel did not initiate any military action, in the hope that Hamas would change course. Well, that didn’t happen. While Israel accepted the offer of President Trump’s special envoy Steve Witkoff, Hamas flatly refused to do so,’ Netanyahu said in a video shared to X on Tuesday. ‘This is why I authorized yesterday, the renewal of military action against Hamas.’

‘Israel does not target Palestinian civilians. We target Hamas terrorists,’ he declared. ‘And when these terrorists embed themselves in civilian areas, when they use civilians as human shields, they’re the ones who are responsible for all unintended casualties.’

This post appeared first on FOX NEWS

President Donald Trump accused former President Joe Biden on Sunday of using an autopen to sign important documents — including pardons on including some for lawmakers who served on the House Select Committee to investigate the Jan. 6 Capitol riot.

Trump claimed that Biden’s more than 8,000 pardons were void and that Biden did not know what documents he was signing through the automated device, calling into question Biden’s mental sharpness while in office and whether he personally approved all official actions. 

What is an autopen, and how does it work?

An autopen is a device that physically holds a pen and is programmed to replicate a person’s signature. It is not a stamp or a digitized print of someone’s signature, and various autopen machines have the capability to hold different types of pens, ranging from ballpoint to permanent marker, according to descriptions of autopen machines available for purchase. 

Modern machines allow someone to save a signature on a smart card or USB flash drive, and then transfer it to the machine. To activate the device, one inserts the pen and then either presses a button or uses a foot pedal to create the signature. 

Other autopen machines have the capacity to write full-length letters for mass, handwritten mail campaigns, where one can select various fonts and input data to determine spacing, size, angle, among other things. 

Use of an autopen is common for lawmakers and other figures like celebrities, who may be required to sign a large swath of documents at one time. For example, former President Barack Obama signed off on an aide using an autopen machine in 2011 to reauthorize the Patriot Act, while he was abroad in France and unable to physically sign it himself. 

That episode marked the first known incident of a president signing legislation with an autopen, even though other presidents like Lyndon B. Johnson were photographed with the machine and reportedly used it to sign correspondence after the machine’s invention during World War II. 

A White House official confirmed to Fox News Digital Tuesday that Trump uses his hand signature on every legally operational or binding document, in keeping with his administration’s official policy during both terms. However, Trump admitted he uses one for letters. 

Trump told reporters on Air Force One Sunday that although he employs an autopen for correspondence, it is ‘disgraceful’ to use one when signing documents such as pardons.

However, the Justice Department’s Office of Legal Counsel determined in 2005 that the president is authorized to use an autopen to sign bills into law. More recently, the U.S. Court of Appeals for the Fourth Circuit issued a ruling in February that said the absence of ‘a writing does not equate to proof that a commutation did not occur.’

‘The constitutional text is thus silent as to any particular form the President’s clemency act must take to be effective,’ the circuit court said in its opinion.

Despite Trump’s concerns over the validity of Biden’s pardons due to the alleged use of an autopen, constitutional scholar Jonathan Turley told Fox News Digital that the odds of successfully legally challenging them in court are ‘vanishingly low.’ 

‘Presidents are allowed to use the autopen and courts will not presume a dead-hand conspiracy,’ Turley said. 

A spokesperson for Biden did not provide comment on the record to Fox News Digital. 

Trump’s attacks on Biden over the use of an autopen come after the Oversight Project with conservative think-tank The Heritage Foundation released a report March 6 claiming that it conducted an analysis of Biden documents, and found that a majority of documents signed during his administration used an autopen.

‘This apparent use raises concerns about: whether President Biden personally authorized each official act; whether or which unelected staff controlled the autopen device; and whether they acted with his approval,’ the Oversight Project said in a report released Monday. 

The Associated Press and Fox News’ Emma Colton contributed to this report. 

This post appeared first on FOX NEWS

Sen. Josh Hawley, R-Mo., said he was ‘skeptical’ of Dr. Mehmet Oz’s views, particularly on transgender procedures for minors and abortion, and released a series of questions Wednesday that he plans to ask President Donald Trump’s nominee to lead the Centers for Medicare and Medicaid Services (CMS) during his road to confirmation. 

‘I’ve been reading up on Dr. Oz – I see he’s praised trans surgeries for minors and supported hormone treatments & puberty blockers for kids in the past,’ Hawley wrote on X on Wednesday. ‘And has also criticized state laws protecting life. I hope he’s changed his views to match President Trump! We need the Trump agenda at CMS.’ 

In a series of written questions for Oz, Hawley asked the former heart surgeon and TV personality if his views have changed since hosting a television show. 

Hawley noted that Oz had on his show ‘various transgender advocates as well as a surgeon who performed transgender surgery’ and ‘also invited children to discuss switching genders and praised parents for helping their children ‘transition’.’  

‘Do you support President Trump’s position that gender transition procedures for minors should be banned?’ one question directed at Oz and shared by Hawley’s press office asked. 

The senator also asked if Trump’s nominee supported the president’s executive order barring biological men from competing in women’s sports. 

‘Do you believe that CMS has a role in promoting or supporting gender transition surgery in any way?’ Hawley asked. 

The senator asked Oz if he would commit to never issuing a National Coverage Determination at CMS for ‘gender reassignment surgery’ or equivalent procedures, including the use of hormone and puberty blockers, in line with Trump’s policies. He also asked if Oz would support Trump’s efforts to halt federal funding to hospitals that provide so-called ‘gender-affirming care’ to minors.

Hawley noted Oz had stated in the past that he did not want to ‘interfere’ with doctors prescribing puberty blockers for minor children and asked if that was still his position. 

‘Do you believe the Dobbs decision overturning Roe v. Wade, which every Justice appointed by President Trump supported, was correctly decided?’ Hawley asked. 

The senator questioned whether Oz’s position has changed since he in 2019 opposed state limitations on abortion related to fetal heartbeat by describing it as ‘little electrical exchanges in the cell that no one would hear or think about as a heart.’ 

In 2019, Oz predicted a state would face a ‘big sucking sound of business leaving’ over its pro-life law, the senator noted, asking Trump’s nominee to answer if he would allow his decisions as head of CMS to be ‘influenced by corporate preferences.’ 

Oz testified last week that CMS would abide by the Hyde Amendment, which bars federal taxpayer dollars from funding abortions.

‘As a physician, I’ve been in the room when there’s some difficult conversations happening. I don’t want the federal government involved with that at all,’ Oz stated in 2022, according to Hawley’s office. The senator cited how Oz also said he did not want the federal government ‘impinging’ on actions the states may make regarding abortion.

‘But many federal laws and regulations implicate life issues,’ Hawley said. ‘President Trump’s administration has opposed federal funding for abortion, for example, at home and abroad. Will you support the President’s position and commit to upholding existing laws that prevent federal funds from being used for abortions?’ 

Hawley asked Oz if he would uphold protections for conscience rights related to abortion, including under the Weldon, Church and Coats-Snowe Amendments. 

The senator noted that CMS under Trump approved waivers allowing states to exclude abortion-performing clinics from the Medicaid program and asked Oz if he would support the president’s policy and back similar waivers if he is confirmed by the Senate. Hawley questioned whether Oz would ‘support action at the federal level to directly exclude abortion providers from the Medicaid program.’ 

‘The Biden administration issued guidance via CMS suggesting that the Emergency Medical Treatment and Active Labor Act (EMTALA) required hospitals to perform abortions, overriding state laws,’ Hawley noted. The senator asked Oz if he would return to the Trump policy and ‘clarify that EMTALA does not mandate abortions.’ 

Finally, Hawley noted that CMS under Trump required separate billing plans that covered abortion in Affordable Care Act (ACA) marketing plans and the Biden administration eliminated that requirement. He asked if Oz would support returning Trump’s policy of ‘transparent billing practices and ensure that consumers pay properly separate charges for abortion.’ 

The 64-year-old was a respected heart surgeon who turned into a popular TV pitchman. He sold everything from supplements to private health insurance plans on ‘The Dr. Oz Show,’ which ran for 13 seasons and helped him amass a fortune.

If confirmed, Oz will oversee health insurance for about 150 million Americans enrolled in Medicare, Medicaid or ACA coverage. As CMS administrator, he could wield significant power over most health companies operating in the U.S., because he can make decisions about who and what is covered by Medicare and Medicaid.

Oz faced over two and a half hours of questioning Friday before the Republican-controlled Senate Finance Committee, which has yet to vote on whether to forward his nomination to the full Senate for consideration. Hawley is not a Finance Committee member and did not question Oz during the hearing last week.

The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

Hamas has claimed responsibility for rockets fired at Israel on Thursday.

‘This launch is the resistance’s first response to the zionist entity’s violation of the ceasefire, which resulted over 710 martyrs in the last three days. It also comes after the IOF’s renewed ground invasion into Beit Lahia this morning, and the failure of the mediators and the world to curb the IOF’s aggression,’ according to reports.

Strikes launched by Israel killed at least 58 Palestinians throughout the Gaza Strip overnight and into Thursday, according to hospitals via the Associated Press.

The Jewish State resumed attacks across Gaza earlier this week, breaking a ceasefire, which reportedly killed over 400 Palestinians – mostly women and children – on Tuesday, according to the Hamas-run Gaza health ministry.

Israel’s military indicated that it intercepted a missile fired by Yemen’s Iran-backed Houthi rebels early Thursday before it entered Israel’s airspace, the AP reported.

‘Hamas refused offer after offer to release our hostages. In the past two weeks, Israel did not initiate any military action, in the hope that Hamas would change course. Well, that didn’t happen. While Israel accepted the offer of President Trump’s special envoy Steve Witkoff, Hamas flatly refused to do so,’ Israeli Prime Minister Benjamin Netanyahu said in a video shared to X on Tuesday. ‘This is why I authorized yesterday, the renewal of military action against Hamas.’

‘Israel does not target Palestinian civilians. We target Hamas terrorists,’ he declared. ‘And when these terrorists embed themselves in civilian areas, when they use civilians as human shields, they’re the ones who are responsible for all unintended casualties.’

Israel launched its war on Hamas in response to the terrorist group’s heinous attack on Oct. 7, 2023.

 

Sen. John Fetterman, D-Pa., a staunch supporter of Israel, continued to express his support while visiting the foreign nation this week.

‘Hamas does not want peace. I unapologetically, 100% stand with Israel, and demand the release of all remaining hostages. Sending this from Israel,’ Fetterman said on X on Tuesday.

 

Rep. Jared Moskowitz, D-Fla., said on X on Wednesday, ‘Hamas could end this war right now if it released the hostages held in Gaza. It could’ve done so months ago, but instead it’s brought devastation by prolonging this conflict. America must lead the world in pressuring Hamas to end this war and bring the hostages home.’

This post appeared first on FOX NEWS

The Federal Trade Commission is going after an e-commerce company that allegedly took millions of dollars from consumers as part of a “passive income” scheme, which spun up Amazon storefronts on their behalf and promised “insane returns” that were higher than the stock market.

The FTC said Tuesday it filed a lawsuit against the company, called Click Profit; its co-founders Craig Emslie and Patrick McGeoghean; and two other business associates. It also asked a judge to bar the parties from doing business temporarily.

The case is the latest example of the FTC cracking down on e-commerce “automation” services. These companies launch and manage online storefronts on behalf of clients, who pay money for the services and the promise of earning tens of thousands of dollars in “passive income.” The companies often make extravagant claims about potential earnings and the use of artificial intelligence technology to guarantee profits. Despite their assurances, consumers frequently end up losing money.

Click Profit, which also operated under the names FBALaunch, Automation Industries and PortfolioLaunch, promised investors they would “build you a massively profitable e-commerce store from the ground up” by selling products on Amazon, Walmart and TikTok, according to the FTC.

The company charged consumers between $45,000 to $75,000 for the initial investment, plus an additional $10,000 or more to pay for inventory, the FTC alleged in its complaint, which was filed in the U.S. District Court for the Southern District of Florida. Click Profit took up to 35% of any profits from their customers’ stores, the complaint states.

The company claimed the business opportunity was “safe, secure and proven to generate wealth,” according to marketing materials referenced in the FTC’s complaint. They posted screenshots of purportedly successful Amazon storefronts, including one they claimed generated product sales of over $540,000 in one month.

Emslie often appeared in TikTok videos and other online ads to pitch prospective consumers. In one ad, he said that “the stock market, real estate or precious metals will never be able to offer you” the level of security offered through investing in Click Profit, according to the FTC’s complaint. Other TikTok videos show him appearing alongside an image of Warren Buffett while “fanning himself” with wads of cash, per the complaint.

Click Profit talked up its expertise by claiming it had product sourcing partnerships with legitimate brands, including Nike, Disney, Dell, Colgate and Marvel, the complaint alleges. It also claimed to have spent $5 million to build a “super computer” and other AI technologies to locate the “most profitable products,” claiming the super computer had generated “around $100 million in sales,” per the complaint.

The company even implied that investors’ online store could be bought out by venture capital firms connected with Click Profit “at a 3-6x multiple,” the FTC alleged.

“In reality, the highly touted AI technology and brand partnerships do not exist, and the promised earnings never materialize,” the FTC said in its complaint.

Amazon suspended or terminated about 95% of Click Profit’s stores after they violated Amazon’s seller policies, the FTC alleged. After accounting for Amazon’s fees, more than one-fifth of Click Profit’s stores on the platform earned no money at all, while another third earned less than $2,500 in gross lifetime sales, the FTC stated.

As a result, most consumers were unable to recoup their investments and “some are saddled with burdensome credit card debt and unsold products,” according to the FTC, which also said that Click Profit often refused to refund victims their investments and threatened them with legal action if they posted publicly about their experience.

One unnamed consumer mentioned in the lawsuit invested “his life’s savings” in Click Profit and was later terminated as a client “with nothing to show for his payments,” the complaint states. He posted a negative review online and was allegedly approached by Emslie’s attorney, who threatened to sue the consumer and “take everything he and his wife owned,” per the complaint.

The consumer took the reviews down, then asked Emslie whether he could receive a partial refund, according to the FTC.

“The attorney told the consumer that Emslie had responded, ‘F*** off,’” the FTC alleged.

Representatives for Emslie and Click Profit didn’t immediately respond to a request for comment.

The FTC alleges Click Profit violated the FTC Act, the Consumer Review Fairness Act and the Business Opportunity Rule. It seeks to permanently prohibit Click Profit from doing business, as well as monetary relief for the victims.

This post appeared first on NBC NEWS

The Metropolitan Transit Authority will stop selling and refilling those formerly-ubiquitous MetroCards by the end of the year in favor of the OMNY system, MTA Chair and CEO Janno Lieber told Crain’s New York Business Wednesday.

MetroCards have been around since 1994, but now seem destined to go the way of the subway token, which stopped being used in 2003.

MTA officials previously said they planned to say goodbye to MetroCards in 2027, but now have provided an estimated date when they will stop selling and filling the cards, and that’s at the end of 2025.

OMNY’s popular tap-and-go system has been around since 2019 and the service includes the ability to tap your phone to pay to purchase an OMNY tap card that passengers can buy and reload.

Commuters will still be able to use their existing MetroCards with whatever funds they have on them until sometime in 2027.

This post appeared first on NBC NEWS

Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.

“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”

Trump has launched a new trade war by imposing tariffs against Washington’s three biggest trading partners, drawing immediate responses from Mexico, Canada and China. Recently, Trump said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House said those tariffs are set to take effect April 2.

“We’re as enthusiastic about building in America as anybody,” Huang said. “We’ve been working with TSMC to get them ready for manufacturing chips here in the United States. We also have great partners like Foxconn and Wistron, who are working with us to bring manufacturing onshore, so long-term manufacturing onshore is going to be something very, very possible to do, and we’ll do it.”

Shares of Nvidia have fallen more than 20% from their record high reached in January. The stock suffered a massive sell-off earlier this year due to concerns sparked by Chinese artificial intelligence lab DeepSeek that companies could potentially get greater performance in AI on far-lower infrastructure costs. Huang has pushed back on that theory, saying DeepSeek popularized reasoning models that will need more chips.

Nvidia, which designs and manufactures graphics processing units that are essential to the AI boom, has been restricted from doing business in China due to export controls that were increased at the end of the Biden administration.

Huang previously said the company’s percentage of revenue in China has fallen by about half due to the export restrictions, adding that there are other competitive pressures in the country, including from Huawei.

This post appeared first on NBC NEWS

In recent months, the heightened demand for safe haven assets has been a key bullish driver for gold and its derivatives. Investors are increasingly rushing to hedge their wealth against risks in the form of geopolitical risks, economic uncertainties, and jitters over Trump’s tariffs. 

Besides, the US dollar remains on a downtrend ahead of the Fed meeting. Investors will be keen on the central bank’s tone regarding the rate outlook. This includes Powell’s assertions on key indicators like employment, inflation, and the overall economic health.

On Tuesday, SPDR Gold Shares ETF (GLD) hit a fresh all-time high at $276.73; overtaking last week’s record high of $275. So far, it has been up by 13% year-to-date, adding to the 27% gains recorded in 2024. 

Read more: What is ANZ’s gold price forecast for the next 3-6 months?

Inflation data points to more leeway for Fed’s rate cuts

The rallying of gold price to a fresh all-time high comes just a few days after data from the US Department of Labor showed that the US inflation eased more than expected in February. Notably, this is the first time in four months that inflation has cooled. 

The released data showed that the US CPI rose by 0.2% in February compared to the previous month’s 0.5%. At an annualized rate, the index was up by 2.8% after increasing by 3.0% at the start of the year. Analysts had predicted that the CPI would surge by 0.3% for the month and 2.9% year-on-year. 

However, the improvement is likely temporary. As President Trump continues with his aggressive tariffs on various US imports, the cost of most consumer goods is expected to increase in the coming months.  

Subsequently, investors are increasingly betting on the Federal Reserve to lower interest rates in the coming months. More specifically, most expect the central bank to lower rates a little over two times before the year ends. GLD gold ETF tends to thrive in an environment of lower interest rates as the opportunity cost of holding the non-yielding bullion is lower. 

Read more: Here’s why the GLD ETF is surging and what to expect

Trump’s trade policy tests the dollar in favor of gold prices

While the US dollar is also considered a conventional safe haven, concerns over a probable recession in the leading economy have been weighing on the greenback. On Tuesday, the dollar index, which tracks the value of the greenback against a basket of six major currencies, retested the 5-month low hit a week ago at $103.25.  A lower US dollar makes gold less expensive for buyers with foreign currencies. 

Notably, fears of a US recession have detented the consumer sentiment as the two-day Fed meeting commences on Tuesday. In the subsequent FOMC statement, investors do not expect change in the current interest rates. The central bank has to be cautious of cutting rates amid the heightened inflation expectations.  

Even so, the market will be keen on the bank’s tone and its view on the impact of Trump’s trade policy on the economy. According to most investors, softening their hawkish tone is now just a matter of timing.  

GLD ETF technical analysis

GLD chart by TradingView

The weekly chart shows that the GLD ETF stock has been in a strong bullish trend for a long time and now sits at a record high. Its surge is in line with our previous GLD forecast, in which we cited the forming bullish pennant pattern. 

GLD remains above the 50-week and 100-week Exponential Moving Averages (EMA), a bullish sign. Also, the MACD, Relative Strength Index (RSI), and the Stochastic Oscillator have continued rising. Therefore, the fund will likely keep soaing as bulls target the key point at $300.

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