XAU Trading Outlook (07-02-2011)

Oil &amp Gold (XAU) had a subdued session even with the US data releases with a test of $1360 failing before moving back to $1345 support. Overall trading with a low of USD$1360 and high of USD $1345 before ending the New York session at USD$1348 an ounce. Traded in a $3 a barrel range on profit taking and easing Egyptian concerns. WTI Oil Closed -$1.50 at $89.05 a barrel.

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