XAU Trading Outlook (07-08-2012)

Oil & Gold (XAU) Gold pushed higher through its next resistance at $1611 before closing at the technical level. $1630 is the next major level and the top of many recent rallies in the last 3 months. OIL/USD is ramping up for a further leg higher well supported on a dip overnight to push onto fresh highs in the US session above $92 a barrel.

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