XAU Trading Outlook (08-02-2011)

Oil &amp Gold (XAU) stayed within a tight range grinding higher back above $1350. Overall trading with a low of USD$1344 and high of USD $1353 before ending the New York session at USD$1352 an ounce. Was sold sharply on easing Egyptian concerns and a buildup of inventories. WTI Oil Closed -$1.70 at $87.30 a barrel.

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