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After gold touched the upper resistance level, it fell slightly yesterday. Is there a chance to break through the upper resistance level?

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Overnight Market Review (2022.5.25) On Tuesday, the US economic data was weak, and the market’s worries about a US recession intensified. The US dollar hit a nearly one-month low, gold prices hit a two-week high, and oil prices held steady. Gold futures fell slightly in midday Asian trading on Wednesday, but remained near a two-week high hit yesterday, supported by a fall in the U.S. dollar and uncertain inflation.

The Fed will release the minutes of its May meeting in the early hours of Thursday (May 26) Beijing time. In response to high inflation not seen in more than 40 years, the Federal Reserve raised interest rates by 50 basis points in May and is likely to raise interest rates sharply in a row at the next two policy meetings.

But the Fed’s aggressive interest rate hikes have sparked fears of a possible hard landing for the economy, and the housing market may have sent a signal. U.S. new home sales fell to a two-year low in April as higher mortgage rates eroded demand, Commerce Department data showed on Tuesday (May 24).

GLOBAL GOLD: Gold prices hit their highest in two weeks on Tuesday as a weaker dollar and lower U.S. Treasury yields boosted the safe-haven gold’s appeal amid subdued risk appetite in financial markets. Gold futures were up nearly 1 percent at $1,865.4 an ounce.

Trading strategy deployment: it is recommended to do more at low levels

All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.

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Risk Warning : Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. 

Risk Warning:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Ultimate Pinnacle Limited is a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively “Ultimate Pinnacle”) under Registration No. 173474 and having its registered address at No. 1 Corner of Hutson Street and Marine Parade, Belize City, Belize.

Lepanto Financial Advisers Limited is the holding company of Ultimate Pinnacle Limited. (Address: Fifth Floor, Suite 23, 63/66 Hatton Garden, London, England, EC1N 8LE). All services and products accessible through the site www.upfxtrade.com are provided by Ultimate Pinnacle Limited with the registered address Suite 305, Griffith Corporate Center P.O Box 1510, Beachmont Kingstown St.Vincent & the Grenadines.
Ultimate Pinnacle Limited is a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively “Ultimate Pinnacle”) under Registration No. 173474 and having its registered address at No. 1 Corner of Hutson Street and Marine Parade, Belize City, Belize.

Lepanto Group Pty Ltd is authorised and regulated by the Australian Securities & Investments Commission, ASIC (ACN: 072 424 830)

Ultimate Pinnacle Limited is a company authorised and regulated by the National Futures Association (NFA ID: 0537666)

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