XAU Trading Outlook (02-03-2012)
Oil & Gold (XAU) Gold bounced back above $1700 and then $1720 in Asia yesterday before settling into a tight range for the rest of the day recovering from the heavy sell off on Wednesday. OIL/USD grabbed the spotlight as rumors spread throughout the market that a pipeline had exploded in Saudi Arabia and this sent the price above $110 briefly before denials saw the energy fall back to $108 a barrel.
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