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Gold finished higher and fell back yesterday, is there a chance for further decline?

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Overnight Market Review (2022.5.17) On Monday, U.S. manufacturing activity fell sharply, recession fears intensified, the dollar fell, and gold and oil prices rose. Global gold markets: Gold prices edged higher on Monday as a retreat in U.S. Treasury yields overshadowed resistance from a relatively strong dollar, with gold futures up 0.3 percent at $1,814.

At midday in Asia on Tuesday, gold futures prices rebounded sharply from yesterday’s lows. Although U.S. bond yields rebounded, the geopolitical situation provided some support for gold. At the same time, investors also need to pay attention to the U.S. retail sales data released later today. , especially as some people start to consider the risk of a recession.

Economists at Goldman Sachs Group Inc. earlier downgraded their forecasts for U.S. economic growth this year and next to reflect the turmoil in financial markets as the Federal Reserve continues to tighten monetary policy.

U.S. stock index futures rose, Dow futures rose about 400 points, and Nasdaq futures rose more than 200 points before the market opened on Tuesday, after U.S. retail sales data in April was stronger than market expectations, easing concerns about slowing U.S. economic growth. Among them, the monthly rate of retail sales recorded 0.9%, a new high since January this year.

Trading strategy deployment: it is recommended to go short at high 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.

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 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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