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XAU Trading Outlook (18-04-2011)

Oil &amp Gold (XAU) fresh record highs were seen with a break $1480 leading to more gains. $1500 is the biggest resistance level Gold has faced in over a year and is shaping as a major test for the precious metal. Overall trading with a low of USD$1471 and high of USD $1488 before ending the New York session at USD$1486 an ounce. Buyers remained in control as the market retests the key $110 level. WTI Oil Closed +$1.50 at $109.20 a barrel.

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